Chemung Financial Co. (NASDAQ:CHMG) Shares Purchased by Acadian Asset Management LLC

Acadian Asset Management LLC increased its position in shares of Chemung Financial Co. (NASDAQ:CHMG) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,111 shares of the bank’s stock after purchasing an additional 2,054 shares during the quarter. Acadian Asset Management LLC owned 0.57% of Chemung Financial worth $1,299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CHMG. BNP Paribas Financial Markets lifted its holdings in shares of Chemung Financial by 369.5% during the fourth quarter. BNP Paribas Financial Markets now owns 6,456 shares of the bank’s stock worth $322,000 after purchasing an additional 5,081 shares during the period. Empowered Funds LLC lifted its holdings in Chemung Financial by 8.1% in the first quarter. Empowered Funds LLC now owns 18,733 shares of the bank’s stock valued at $796,000 after acquiring an additional 1,400 shares during the period. Vanguard Group Inc. lifted its holdings in Chemung Financial by 3.1% in the first quarter. Vanguard Group Inc. now owns 188,331 shares of the bank’s stock valued at $8,000,000 after acquiring an additional 5,649 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Chemung Financial by 3.5% in 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. Institutional investors and hedge funds own 47.50% of the company’s stock.

Chemung Financial Trading Up 0.6 %

Shares of NASDAQ:CHMG opened at $46.96 on Monday. Chemung Financial Co. has a 12-month low of $38.75 and a 12-month high of $51.36. The company has a market capitalization of $223.53 million, a PE ratio of 9.00 and a beta of 0.15. The business has a 50 day moving average of $46.56 and a two-hundred day moving average of $44.08. 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 (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 analysts’ consensus estimates 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%. As a group, analysts forecast that Chemung Financial Co. will post 4.81 EPS for the current year.

Chemung Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 19th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, September 19th. Chemung Financial’s dividend payout ratio (DPR) is presently 23.75%.

Insider Activity

In other news, EVP Thomas W. Wirth sold 764 shares of the business’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 completion of the sale, the executive vice president now directly owns 3,926 shares in the company, valued at $174,314.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.