Hovde Group Begins Coverage on Chemung Financial (NASDAQ:CHMG)

Posted by George Bondi on Oct 14th, 2026

Equities research analysts at Hovde Group began coverage on shares of Chemung Financial (NASDAQ:CHMG – Get Free Report) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set a “market perform” rating and a $88.00 price target on the bank’s stock. Hovde Group’s target price indicates a potential upside of 9.49% from the company’s current price.

CHMG has been the subject of several other reports. DA Davidson initiated coverage on shares of Chemung Financial in a research note on Monday, September 28th. They issued a “buy” rating and a $95.00 price target for the company. Wall Street Zen lowered shares of Chemung Financial from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Zacks Research cut shares of Chemung Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Raymond James Financial began coverage on shares of Chemung Financial in a report on Tuesday, September 1st. They issued an “outperform” rating and a $87.00 price objective on the stock. Finally, Weiss Ratings raised shares of Chemung Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.75.

View Our Latest Stock Analysis on Chemung Financial

Chemung Financial Price Performance

CHMG opened at $80.37 on Monday. The stock has a fifty day simple moving average of $82.47 and a two-hundred day simple moving average of $73.86. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The company has a market cap of $387.38 million, a price-to-earnings ratio of 11.55 and a beta of 0.58. Chemung Financial has a 12-month low of $49.82 and a 12-month high of $86.00.

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

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 stock was sold at an average price of $83.50, for a total value of $430,860.00. Following the completion of the transaction, the executive vice president owned 5,164 shares of the company’s stock, valued at $431,194. The trade was a 49.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.69% of the stock is owned by insiders.

Institutional Trading of Chemung Financial

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Chemung Financial during the 2nd quarter valued at about $29,197,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Chemung Financial during the second quarter valued at approximately $12,098,000. Dimensional Fund Advisors LP grew its holdings in shares of Chemung Financial by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 181,841 shares of the bank’s stock valued at $9,787,000 after buying an additional 2,172 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Chemung Financial during the second quarter valued at approximately $2,347,000. Finally, Empowered Funds LLC bought a new stake in shares of Chemung Financial during the second quarter valued at approximately $2,010,000. 47.50% of the stock is owned by hedge funds and other institutional investors.

Chemung Financial Company Profile

(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.