Chemung Financial (NASDAQ:CHMG) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Chemung Financial Co. (NASDAQ:CHMG) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.56 and traded as high as $47.47. Chemung Financial shares last traded at $47.29, with a volume of 10,691 shares trading hands.

Chemung Financial Stock Performance

The company’s 50-day moving average is $47.25 and its two-hundred day moving average is $45.56. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.42. The firm has a market cap of $225.10 million, a P/E ratio of 10.46 and a beta of 0.15.

Chemung Financial (NASDAQ:CHMG) last posted its earnings results on Tuesday, October 22nd. The bank reported $1.19 EPS for the quarter, topping the consensus estimate of $1.13 by $0.06. Chemung Financial had a net margin of 14.56% and a return on equity of 10.91%. The firm had revenue of $38.28 million for the quarter, compared to analysts’ expectations of $24.00 million. As a group, equities analysts predict that Chemung Financial Co. will post 4.94 EPS for the current fiscal year.

Chemung Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 19th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.24 annualized dividend and a dividend yield of 2.62%. Chemung Financial’s payout ratio is currently 27.43%.

Institutional Investors Weigh In On Chemung Financial

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC grew its stake in Chemung Financial by 8.1% in the 1st quarter. Empowered Funds LLC now owns 18,733 shares of the bank’s stock valued at $796,000 after buying an additional 1,400 shares in the last quarter. Vanguard Group Inc. grew its stake in Chemung Financial by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 188,331 shares of the bank’s stock valued at $8,000,000 after buying an additional 5,649 shares in the last quarter. Acadian Asset Management LLC grew its stake in Chemung Financial by 8.7% in the 1st quarter. Acadian Asset Management LLC now owns 25,057 shares of the bank’s stock valued at $1,063,000 after buying an additional 2,011 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Chemung Financial by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,618 shares of the bank’s stock valued at $558,000 after buying an additional 397 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. purchased a new position in Chemung Financial in the 2nd quarter valued at approximately $200,000. Hedge funds and other institutional investors own 47.50% 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.