Chemung Financial Co. (NASDAQ:CHMG) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in Chemung Financial Co. (NASDAQ:CHMG) by 4.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 34,322 shares of the bank’s stock after buying an additional 1,400 shares during the period. Renaissance Technologies LLC’s holdings in Chemung Financial were worth $1,647,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Bright Futures Wealth Management LLC. purchased a new stake in shares of Chemung Financial during the 2nd quarter valued at $200,000. Bank of New York Mellon Corp grew its position in Chemung Financial by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 11,618 shares of the bank’s stock valued at $558,000 after acquiring an additional 397 shares during the period. Empowered Funds LLC increased its stake in Chemung Financial by 8.1% during the first quarter. Empowered Funds LLC now owns 18,733 shares of the bank’s stock worth $796,000 after acquiring an additional 1,400 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Chemung Financial by 8.7% in the 1st quarter. Acadian Asset Management LLC now owns 25,057 shares of the bank’s stock worth $1,063,000 after purchasing an additional 2,011 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Chemung Financial by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 132,134 shares of the bank’s stock valued at $6,342,000 after purchasing an additional 5,584 shares in the last quarter. 47.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chemung Financial

In other Chemung Financial news, EVP Thomas W. Wirth sold 764 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $44.40, for a total value of $33,921.60. Following the transaction, the executive vice president now directly owns 3,926 shares of the company’s stock, valued at approximately $174,314.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.04% of the stock is currently owned by company insiders.

Chemung Financial Stock Down 1.1 %

CHMG opened at $46.30 on Friday. Chemung Financial Co. has a 1 year low of $38.75 and a 1 year high of $51.36. The firm has a 50 day moving average price of $46.63 and a 200 day moving average price of $44.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $220.02 million, a PE ratio of 8.87 and a beta of 0.15.

Chemung Financial (NASDAQ:CHMG) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.07). The company had revenue of $36.98 million during the quarter, compared to analyst estimates of $24.08 million. Chemung Financial had a net margin of 16.02% and a return on equity of 11.33%. Sell-side analysts expect that Chemung Financial Co. will post 4.81 earnings per share for the current year.

Chemung Financial Announces Dividend

The company also recently declared 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 2.68%. The ex-dividend date was Thursday, September 19th. Chemung Financial’s dividend payout ratio (DPR) is 23.75%.

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.