Chemung Financial Stock (NASDAQ:CHMG), Trade Ideas

Chemung Financial

CHEMUNG FINANCIAL CORP

Chemung Financial Corp is a bank holding firm. It provides financial services, including demand, savings, and time deposits, commercial, residential, and consumer loans, letters of credit, wealth management services, employee benefit plans, securities, and insurance brokerage services. Its business operations are organized into two lines of business: Banking, and Wealth Management services. It derives its revenues from the core banking business.

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US banks with large CRE loan portfolios face increased regulatory scrutiny, but NYCB stands out with steady growth despite exceeding threshold.

Banks With High Commercial Real Estate Loan Exposure In Regulatory Spotlight: Valley National Bancorp And 15 Others To Watch

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Although U.S. stocks closed higher on Thursday, there were a few notable insider trades.

Insiders Buying FB Financial And 2 Other Stocks

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Stocks That Hit 52-Week Lows On Thursday

Chemung Financial Corp

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) with a Market Perform and lowers the price target from $51 to $49.

Price Target

Keefe, Bruyette & Woods Maintains Market Perform on Chemung Financial, Lowers Price Target to $49

Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) reported quarterly earnings of $1.48 per share. This is a 3.9 percent decrease over earnings of $1.54 per share from the same period last year.

Earnings

Chemung Financial Q1 EPS $1.48 Down From $1.54 YoY

More than a dozen banks in the U.S. find themselves under the keen eye of financial watchdogs due to their sizable portfolios of commercial <a href="https://www.benzinga.com/topic/commercial-real-estate">real estate (CRE) loans.</a>
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency jointly indicated their intent to scrutinize banks with CRE loan portfolios exceeding triple their capital and with growth that has exceeded 50% over the past three years. 
New York Community Bancorp, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) is not among institutions deserving increasing scrutiny. Despite having a CRE loan to total capital ratio of 462% — surpassing the regulatory concern threshold of 300% — NYCB&#8217;s portfolio growth of 25% over the past five years keeps it below the critical 50% growth threshold that watchdogs find alarming. 
This distinction is particularly noteworthy in light of NYCB&#8217;s recent underperformance and increased investor scrutiny following a lackluster earnings report earlier this month.
<h3 class="wp-block-heading">Regional Banks Under the Microscope </h3>
A Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-02-15/which-banks-may-face-scrutiny-of-commercial-real-estate-exposure?srnd=premium&amp;sref=TBDibEcD">analysis</a> of federal data spanning over 350 bank holding companies highlighted that numerous smaller lenders have attracted increased regulatory scrutiny. This is because they&#8217;ve rapidly built up significantly large concentrations in their CRE portfolios in recent years.
Valley National Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>) is identified as the largest institution that fits the criteria for heightened regulatory examination, with a staggering 80% growth in CRE loans over the past three years and an exposure that constitutes 471% of its total capital. 
Alongside Valley National, other banks such as HomeStreet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>), First Foundation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NASDAQ">FFWM</a>), Dime Community Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCOM#NASDAQ">DCOM</a>), Bridgewater Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWB#NASDAQ">BWB</a>), Hometown Financial Group MHC, Axos Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AX#NYSE">AX</a>), OceanFirst Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCFC#NASDAQ">OCFC</a>), First Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBMS#NASDAQ">FBMS</a>), Chemung Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>), Watford City Bancshares Inc., Civista Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIVB#NASDAQ">CIVB</a>), BCI Financial Group Inc., Veritex Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VBTX#NASDAQ">VBTX</a>), ServisFirst Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>), Independent Bank Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>), Southern Missouri Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMBC#NASDAQ">SMBC</a>), QCR Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCRH#NASDAQ">QCRH</a>) and Enterprise Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBTC#NASDAQ">EBTC</a>) are slated for closer inspection by regulators.
<h3 class="wp-block-heading">Market Reactions</h3>
Despite the regulatory cloud hanging over these institutions, the broader regional bank industry, as monitored by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), witnessed a 2.4% uptick on Thursday. 
This surge is attributed to a confluence of factors, including some positive news derived from the latest 13F filings and the market anticipation of Federal Reserve rate cuts prompted by <a href="https://www.benzinga.com/markets/equities/24/02/37156844/retail-sales-sink-in-january-manufacturing-indicators-improve-jobless-claims-fall-thursdays-econ">disappointing retail sales data.</a>
A couple of renowned fund managers added exposure to New York Community Bancorp in the fourth quarter of 2023. Notable among them is Soros Fund Management, which escalated its stake to 1,476,180 shares, valued at $15 million by the quarter&#8217;s end. Similarly, AQR Capital Management and Millennium Management substantially increased their holdings in New York Community Bancorp. 
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37139816/2008-big-short-oracle-burry-bets-big-on-chinese-giants-backs-google-amazons-ai-wave">2008 &#8216;Big Short&#8217; Oracle Burry Bets Big On Chinese Giants, Backs Google, Amazon&#8217;s AI Wave</a>

<h3>What Defines a Value Stock?</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>Below is a list of notable value stocks in the financial services sector:</h2>
<ol>
<li>HBT Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBT#NASDAQ">HBT</a>) - P/E: 9.41</li>
<li>Old Second Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSBC#NASDAQ">OSBC</a>) - P/E: 6.74</li>
<li>Enova International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENVA#NYSE">ENVA</a>) - P/E: 9.91</li>
<li>Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) - P/E: 8.81</li>
<li>Fidus Investment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDUS#NASDAQ">FDUS</a>) - P/E: 8.96</li>
</ol>
Most recently, HBT Finl reported earnings per share at $0.6, whereas in Q3 earnings per share sat at $0.63. Its most recent dividend yield is at 3.74%, which has decreased by 0.04% from 3.78% in the previous quarter.
This quarter, Old Second Bancorp experienced a decrease in earnings per share, which was $0.55 in Q3 and is now $0.42. The company's most recent dividend yield sits at 1.33%, which has decreased by 0.14% from 1.47% last quarter. 
This quarter, Enova International experienced an increase in earnings per share, which was $1.5 in Q3 and is now $1.83. Most recently, Chemung Financial reported earnings per share at $0.81, whereas in Q3 earnings per share sat at $1.61. Its most recent dividend yield is at 2.75%, which has decreased by 0.26% from 3.01% in the previous quarter.
Fidus Investment saw an increase in earnings per share from 0.62 in Q2 to $0.68 now. 
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

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A Look Into Financial Services Sector Value Stocks

Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) reported quarterly earnings of $0.80 per share which missed the analyst consensus estimate of $1.12 by 28.57 percent. This is a 49.37 percent decrease over earnings of $1.58 per share from the same period last year.

Earnings Misses

Chemung Financial Q4 EPS $0.80 Misses $1.12 Estimate

Although U.S. stocks closed higher on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>FB Financial </h3>
<ul>
<li>The Trade: FB Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fbk#NYSE">FBK</a>) 10% owner James Ayers <a href="https://www.benzinga.com/quote/FBK/analyst-ratings"> acquired a total of 2,000 shares </a> an average price of $35.29. To acquire these shares, it cost around $70,580.</li>
<li>What&rsquo;s Happening: Hovde Group analyst Brett Rabatin recently downgraded FB Financial from Outperform to Market Perform and announced a $40 price target.</li>
<li>What FB Financial Does: FB Financial Corp is a bank holding company. The company through its wholly-owned bank subsidiary provides commercial and consumer banking services to clients in select markets in Tennessee, North Alabama, and North Georgia.</li>
</ul>
<h3>Smith Douglas Homes </h3>
<ul>
<li>The Trade: Smith Douglas Homes Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdhc#NYSE">SDHC</a>) Brett A. Steele acquired a total of 12,143 shares at an average price of $21.00. To acquire these shares, it cost around $105,000.</li>
<li>What&rsquo;s Happening: Smith Douglas Homes recently priced its initial public offering of 7,692,308 class A common shares at $21 per share.</li>
<li>What Smith Douglas Homes Does: Smith Douglas Homes Corp is a company engaged in the design, construction, and sale of single-family homes in some of the highest growth and most desirable markets in the Southeastern United States.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Chemung Financial </h3>
<ul>
<li>The Trade: Chemung Financial Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chmg#NASDAQ">CHMG</a>) Director Joseph Meade IV <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 582 shares </a> at an average price of $48.11. To acquire these shares, it cost around $28,000.</li>
<li>What&rsquo;s Happening: Chemung Financial, during October, posted upbeat quarterly earnings.</li>
<li>What Chemung Financial Does: Chemung Financial Corp is a bank holding firm. It provides financial services, including demand, savings, and time deposits, commercial, residential, and consumer loans, letters of credit, wealth management services, employee benefit plans, securities, and insurance brokerage services.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/01/36690712/investor-sentiment-increases-following-economic-reports-dow-jumps-over-200-points"> Investor Sentiment Increases Following Economic Reports; Dow Jumps Over 200 Points </a>

Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) reported quarterly earnings of $1.61 per share which beat the analyst consensus estimate of $1.13 by 42.48 percent. This is a 17.52 percent increase over earnings of $1.37 per share from the same period last year. The company reported quarterly sales of $25.82 million which beat the analyst consensus estimate of $23.50 million by 9.89 percent. This is a 7.49 percent increase over sales of $24.03 million the same period last year.

Chemung Financial Q3 EPS $1.61 Beats $1.13 Estimate, Sales $25.82M Beat $23.50M Estimate

Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) reported quarterly earnings of $1.33 per share which beat the analyst consensus estimate of $1.21 by 9.92 percent. This is a 22.67 percent decrease over earnings of $1.72 per share from the same period last year. The company reported quarterly sales of $24.13 million which missed the analyst consensus estimate of $24.31 million by 0.72 percent. This is a 5.11 percent increase over sales of $22.96 million the same period last year.

Earnings Beats

Chemung Financial Q2 EPS $1.33 Beats $1.21 Estimate, Sales $24.13M Miss $24.31M Estimate

Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) reported quarterly earnings of $1.33 per share which beat the analyst consensus estimate of $1.21 by 9.92 percent. This is a 22.67 percent decrease over earnings of $1.72 per share from the same period last year.

Chemung Financial Q2 EPS $1.33 Beats $1.21 Estimate

Offerings

Chemung Financial Corp Files For Mixed Shelf Of Up To $75M

<h3>What is a Value Stock?</h3>
A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. 
<h2>Benzinga Insights has compiled a list of value stocks in the financial services sector that may be worth watching:</h2>
<ol>
<li>TriCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBK#NASDAQ">TCBK</a>) - P/E: 8.32</li>
<li>OptimumBank Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPHC#NASDAQ">OPHC</a>) - P/E: 4.25</li>
<li>Noah Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOAH#NYSE">NOAH</a>) - P/E: 7.14</li>
<li>Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) - P/E: 5.57</li>
<li>Territorial Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBNK#NASDAQ">TBNK</a>) - P/E: 7.44</li>
</ol>
TriCo has reported Q1 earnings per share at $1.07, which has decreased by 1.83% compared to Q4, which was 1.09. Its most recent dividend yield is at 3.5%, which has increased by 1.14% from 2.36% in the previous quarter.
OptimumBank Hldgs's earnings per share for Q1 sits at $0.16, whereas in Q4, they were at 0.24. Noah Holdings saw a decrease in earnings per share from 0.39 in Q3 to $0.31 now. Most recently, Chemung Financial reported earnings per share at $1.54, whereas in Q4 earnings per share sat at $1.58. The company's most recent dividend yield sits at 3.54%, which has increased by 1.12% from 2.42% last quarter. 
Territorial Bancorp saw a decrease in earnings per share from 0.39 in Q4 to $0.26 now. The company's most recent dividend yield sits at 5.37%, which has increased by 1.59% from 3.78% last quarter. 
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

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OPHC

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Overview Of Value Stocks In The Financial Services Sector

Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) reported its Q1 earnings results on Thursday, April 20, 2023 at 04:15 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Chemung Financial beat estimated earnings by 12.41%, reporting an EPS of $1.54 versus an estimate of $1.37.
Revenue was up $3.03 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.11 which was followed by a 0.82% increase in the share price the next day.
Here's a look at Chemung Financial's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
<th>Q2 2022</th>
<th>Q1 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.47</td>
<td>1.35</td>
<td>1.19</td>
<td>1.23</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.58</td>
<td>1.37</td>
<td>1.71</td>
<td>1.46</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>24.78M</td>
<td>23.70M</td>
<td>22.51M</td>
<td>22.46M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>26.29M</td>
<td>24.03M</td>
<td>22.96M</td>
<td>22.34M</td>
</tr>
</tbody>
</table>

 Listen to the earnings announcement yourself by <a href="">clicking here</a>. 
To track all earnings releases for Chemung Financial <a href="https://www.benzinga.com/quote/CHMG/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Chemung Financial: Q1 Earnings Insights

Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) reported quarterly earnings of $1.54 per share which beat the analyst consensus estimate of $1.42 by 8.45 percent. This is a 5.48 percent increase over earnings of $1.46 per share from the same period last year.

Chemung Financial Q1 EPS $1.54 Beats $1.42 Estimate

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) with a Market Perform and lowers the price target from $52 to $49.

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Shares of bank stocks are trading lower following the collapse of Silicon Valley Bank and Signature Bank, which has caused financial sector uncertainty.

Keefe, Bruyette &amp; Woods analyst Christopher OConnell maintains Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) with a Market Perform and raises the price target from $50 to $52.

Keefe, Bruyette & Woods Maintains Market Perform on Chemung Financial, Raises Price Target to $52

Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) reported quarterly earnings of $1.58 per share which beat the analyst consensus estimate of $1.47 by 7.48 percent. This is a 14.49 percent increase over earnings of $1.38 per share from the same period last year.

Chemung Financial Q4 EPS $1.58 Beats $1.47 Estimate

Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>) reported quarterly earnings of $1.37 per share. This is a 3.52 percent decrease over earnings of $1.42 per share from the same period last year.

Chemung Financial Q3 EPS $1.37 Down From $1.42 YoY

Thursday marks the last chance for investors to receive the next dividend payout from Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>). 
<h3>What's Happening</h3>
The company announced on Wednesday that it would pay shareholders a quarterly dividend of 31 cents per share. On Friday, Chemung Financial will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 31 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Friday. Shareholders who own CHMG as of the end of Thursday's session are eligible to receive the 31 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on October 03, 2022. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.

Dividends

Chemung Financial's Ex-Dividend Date Is Friday, Here's What You Need To Know

Ronald M Bentley, and insider at Chemung Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>), reported a large insider sell on July 26, according to a new SEC filing.
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000763563/000076356322000058//Archives/edgar/data/763563/000076356322000058/0000763563-22-000058-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday showed that Bentley sold 2,478 shares of Chemung Financial. The total transaction amounted to $112,354.
Chemung Financial shares are trading up 0.11% at $45.15 at the time of this writing on Wednesday morning.
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<h3>Why Insider Transactions Are Important</h3>
Insider transactions shouldn&#39;t be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In legal terms, an &quot;insider&quot; refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.
<h3>Important Transaction Codes</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000763563">Check Out The Full List Of Chemung Financial&#39;s Insider Trades.</a>
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

Chemung Financial Insider Sold Over $112K In Company Stock

Chemung Financial GAAP EPS of $0.80

KBW Keeps Their Hold Rating on Chemung Financial (CHMG)

KBW Sticks to Their Hold Rating for Chemung Financial (CHMG)

Chemung Financial (CHMG) has released an update. Chemung Financial Corporation has announced a cash dividend of $0.31 per share, set to be paid on ...

Chemung Financial Declares Cash Dividend for Shareholders

Chemung Financial goes ex dividend tomorrow

Chemung Financial GAAP EPS of $1.48 beats by $0.44, revenue of $23.75M in-line

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Chemung Financial (NASDAQ:<a href="https://investorplace.com/stock-quotes/chmg-stock-quote/">CHMG</a>) just reported results for the first quarter of 2024.<ul><li>Chemung Financial reported earnings per share of $1.48. This was above the analyst estimate for EPS of $1.04.</li><li>The company reported revenue of $23.75 million.</li><li>This was 0.03% better than the analyst estimate for revenue of $23.74 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/04/chmg-stock-earnings-chemung-financial-for-q1-of-2024/">CHMG Stock Earnings: Chemung Financial Beats EPS, Beats Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

CHMG Stock Earnings: Chemung Financial Beats EPS, Beats Revenue for Q1 2024

Chemung Financial (CHMG) Receives a Hold from KBW

Analysts fell to the sidelines weighing in on Fifth Third Bancorp (FITB – Research Report), Chemung Financial (CHMG – Research Report) and F.N.B. (...

Analysts Offer Insights on Financial Companies: Fifth Third Bancorp (FITB), Chemung Financial (CHMG) and F.N.B. (FNB)

Janney Montgomery analyst Jake Civiello maintained a Buy rating on Chemung Financial (CHMG – Research Report) today. The company's shares closed la...

Janney Montgomery Sticks to Its Buy Rating for Chemung Financial (CHMG)

FITB

Press Releases

Chemung Financial Corporation Announces Quarterly Dividend

Management

Chemung Canal Trust Company Appoints New Executive Vice President, Chief Financial Officer & Treasurer

Chemung Financial Corporation Reports Second Quarter 2023 Net Income of $6.3 million, or $1.33 per Share

Chemung Financial Corporation Reports Third Quarter 2023 Net Income of $7.6 million, or $1.61 per Share

Chemung Financial Corporation Reports Annual Net Income of $25.0 million, or $5.28 per share, and Fourth Quarter 2023 Net Income of $3.8 million, or $0.80 per share

Chemung Financial Corporation Reports First Quarter 2024 Net Income of $7.1 million, or $1.48 per share