Chemung Financial (NASDAQ:CHMG) Cut to “Hold” at Wall Street Zen

Posted by Brenda Bartman on Oct 6th, 2026

Wall Street Zen cut shares of Chemung Financial (NASDAQ:CHMG – Free Report) from a buy rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Several other research analysts have also recently commented on CHMG. Raymond James Financial initiated coverage on Chemung Financial in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $87.00 price target on the stock. DA Davidson assumed coverage on Chemung Financial in a research report on Monday, September 28th. They issued a “buy” rating and a $95.00 target price on the stock. Keefe, Bruyette & Woods increased their price target on Chemung Financial from $77.00 to $81.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. Zacks Research lowered Chemung Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Finally, Weiss Ratings upgraded shares of Chemung Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.67.

Get Our Latest Analysis on CHMG

Chemung Financial Price Performance

Shares of CHMG stock opened at $81.91 on Friday. The company has a market capitalization of $394.81 million, a PE ratio of 11.77 and a beta of 0.58. The firm has a fifty day simple moving average of $82.57 and a 200-day simple moving average of $72.68. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. Chemung Financial has a twelve month low of $49.82 and a twelve month high of $86.00.

Chemung Financial (NASDAQ:CHMG – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.05. The business had revenue of $31.17 million during the quarter, compared to analyst estimates of $30.52 million. Chemung Financial had a net margin of 20.68% and a return on equity of 12.98%. Equities research analysts anticipate that Chemung Financial will post 7.54 earnings per share for the current fiscal year.

Chemung Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th were given a dividend of $0.36 per share. This is a boost from Chemung Financial’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Thursday, September 17th. Chemung Financial’s dividend payout ratio (DPR) is presently 20.69%.

Insider Buying and Selling at Chemung Financial

In other news, EVP Loren Cole sold 5,160 shares of Chemung Financial stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $83.50, for a total transaction of $430,860.00. Following the sale, the executive vice president directly owned 5,164 shares in the company, valued at approximately $431,194. The trade was a 49.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.69% of the company’s stock.

Institutional Investors Weigh In On Chemung Financial

Several large investors have recently made changes to their positions in CHMG. Hudock Inc. acquired a new position in Chemung Financial in the second quarter worth $1,634,000. Wellington Management Group LLP bought a new stake in shares of Chemung Financial in the 2nd quarter valued at $2,347,000. Empowered Funds LLC acquired a new position in shares of Chemung Financial in the 2nd quarter valued at approximately $2,010,000. Bank of America Corp DE bought a new stake in shares of Chemung Financial during the second quarter worth $1,058,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Chemung Financial in the 2nd quarter valued at about $1,272,000. Institutional investors own 47.50% of the company’s stock.

About Chemung Financial

(Get Free Report)

Chemung Financial Corporation is a bank holding company headquartered in Elmira, New York. Its principal subsidiary, Chemung Canal Trust Company, provides community banking and financial services to individuals, businesses, municipalities and nonprofit organizations.

The company’s banking activities include deposit accounts, residential and commercial real estate lending, consumer loans, business loans, mortgages, cash-management services, online and mobile banking, and other treasury-management solutions.