Chemung Financial (NASDAQ:CHMG) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Chemung Financial (NASDAQ:CHMG) issued its earnings results on Tuesday. The bank reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.06, Yahoo Finance reports. The business had revenue of $38.28 million for the quarter, compared to analyst estimates of $24.00 million. Chemung Financial had a net margin of 16.02% and a return on equity of 11.33%.

Chemung Financial Stock Up 0.0 %

NASDAQ CHMG traded up $0.02 on Wednesday, hitting $47.20. 5,420 shares of the company were exchanged, compared to its average volume of 9,784. Chemung Financial has a 12 month low of $38.75 and a 12 month high of $51.36. The company has a market cap of $224.29 million, a PE ratio of 9.04 and a beta of 0.15. The stock has a fifty day moving average of $46.94 and a 200-day moving average of $45.14. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.42.

Chemung Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 19th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.63%. The ex-dividend date was Thursday, September 19th. Chemung Financial’s dividend payout ratio is presently 23.75%.

Insider Buying and Selling at Chemung Financial

In other news, EVP Thomas W. Wirth sold 764 shares of Chemung Financial stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $44.40, for a total transaction of $33,921.60. Following the completion of the transaction, the executive vice president now directly owns 3,926 shares in the company, valued at $174,314.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.04% of the company’s stock.

About Chemung Financial

Chemung Financial Corporation operates as a bank holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides demand, savings, and time deposits; non-interest and interest-bearing checking accounts; and insured money market accounts.