Chemung Financial Co. (NASDAQ:CHMG) is Chemung Canal Trust Co.’s 4th Largest Position

Chemung Canal Trust Co. trimmed its holdings in Chemung Financial Co. (NASDAQ:CHMG) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 336,132 shares of the bank’s stock after selling 3,049 shares during the period. Chemung Financial makes up about 3.3% of Chemung Canal Trust Co.’s holdings, making the stock its 4th largest holding. Chemung Canal Trust Co. owned approximately 0.07% of Chemung Financial worth $16,141,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in Chemung Financial by 8.2% during the second quarter. Acadian Asset Management LLC now owns 27,111 shares of the bank’s stock worth $1,299,000 after purchasing an additional 2,054 shares in the last quarter. Empowered Funds LLC lifted 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 purchasing an additional 1,400 shares in the last quarter. Vanguard Group Inc. lifted its stake in Chemung Financial by 3.1% during the first quarter. Vanguard Group Inc. now owns 188,331 shares of the bank’s stock worth $8,000,000 after purchasing an additional 5,649 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Chemung Financial by 4.3% during the second quarter. Renaissance Technologies LLC now owns 34,322 shares of the bank’s stock worth $1,647,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 worth $558,000 after purchasing an additional 397 shares in the last quarter. 47.50% of the stock is currently owned by institutional investors and hedge funds.

Chemung Financial Trading Up 2.4 %

NASDAQ:CHMG traded up $1.10 during trading hours on Friday, reaching $47.40. 1,444 shares of the stock were exchanged, compared to its average volume of 9,451. The company has a market capitalization of $225.24 million, a price-to-earnings ratio of 9.08 and a beta of 0.15. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.42. Chemung Financial Co. has a twelve month low of $38.75 and a twelve month high of $51.36. The business has a 50-day moving average of $46.58 and a two-hundred day moving average of $44.58.

Chemung Financial (NASDAQ:CHMG) last announced its quarterly earnings data 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%. On average, equities analysts predict that Chemung Financial Co. will post 4.81 EPS for the current year.

Chemung Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 19th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Thursday, September 19th. Chemung Financial’s payout ratio is currently 23.75%.

Insider Activity

In other news, EVP Thomas W. Wirth sold 764 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 3,926 shares in the company, valued at approximately $174,314.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.