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Chemung Financial Corp  (CHMG)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 
Price: $43.4100 $-0.09 -0.207%
Day's High: $43.5 Week Perf: 0.39 %
Day's Low: $ 43.25 30 Day Perf: 10.07 %
Volume (M): 9 52 Wk High: $ 51.36
Volume (M$): $ 399 52 Wk Avg: $42.38
Open: $43.50 52 Wk Low: $33.72



 Market Capitalization (Millions $) 207
 Shares Outstanding (Millions) 5
 Employees 377
 Revenues (TTM) (Millions $) 96
 Net Income (TTM) (Millions $) 25
 Cash Flow (TTM) (Millions $) 60
 Capital Exp. (TTM) (Millions $) 0

Chemung Financial Corp
The Corporation was incorporated on January 2, 1985 under the laws of the State of New York and is headquartered in Elmira, NY. The Corporation was organized for the purpose of acquiring the Bank. The Bank was established in 1833 under the name Chemung Canal Bank, and was subsequently granted a New York State bank charter in 1895. In 1902, the Bank was reorganized as a New York State trust company under the name Elmira Trust Company, and its name was changed to Chemung Canal Trust Company in 1903.

The Corporation became a financial holding company in June 2000. Financial holding company status provided the Corporation with the flexibility to offer an array of financial services, such as insurance products, mutual funds, and brokerage services, which provide additional sources of fee based income and allow the Corporation to better serve its customers. The Corporation established a financial services subsidiary, CFS, in September 2001 which offers non-banking financial services such as mutual funds, annuities, brokerage services, insurance and tax preparation services.

The Corporation’s growth strategy is to leverage its expanding branch network in current or new markets to build client relationships and grow loans and deposits. Consistent with the Corporation’s community banking model, emphasis is placed on acquiring stable, low-cost deposits, primarily checking account deposits and other low interest-bearing deposits to fund high-quality loans. Expanding the branch network involves branch purchases or opening de novo branches in contiguous markets and acquiring other financial institutions in the Northeast. The Corporation evaluates acquisition targets based on the economic viability of the markets they are in, the degree to which they can be effectively integrated into the Corporation’s current operations and the degree to which they are accretive to capital and earnings.

The Corporation, through the Bank and CFS, provides a wide range of financial services, including demand, savings and time deposits, commercial, residential and consumer loans, interest rate swaps, letters of credit, wealth management services, employee benefit plans, insurance products, mutual funds and brokerage services. The Bank derives its income primarily from interest and fees on loans, interest on investment securities, WMG fee income and fees received in connection with deposit and other services. The Bank’s operating expenses are interest expense paid on deposits and borrowings, salaries and employee benefit plans and general operating expenses.

In order to compete with other financial services companies, the Corporation relies upon personal relationships established with clients by its officers, employees and directors. The Corporation has maintained a strong community orientation by supporting the active participation of officers and employees in local charitable, civic, school, religious and community development activities. The Corporation believes that its emphasis on local relationship banking together with a prudent approach to lending, are important factors in its success and growth.

The Corporation’s objective is to channel deposits gathered locally into high-quality, market-yielding loans without taking unacceptable credit and/or interest rate risk. The Corporation seeks to have a diversified loan portfolio consisting of commercial and agricultural loans, commercial mortgages, residential mortgages, home equity lines of credit and home equity term loans, consumer and indirect auto loans. The Bank operates with a traditional community bank model where the relationship manager possesses credit skills and has significant influence over credit decisions. This creates value since clients and prospects know they are dealing with a decision maker.

The Board of Directors establishes the lending policies, underwriting standards and loan approval limits of the Bank. In accordance with those policies, the Board of Directors has designated certain officers to consider and approve loans within their designated authority. These officers exercise substantial authority over credit and pricing decisions, subject to loan committee approval for larger credits. The Bank recognizes that exceptions to the lending policies may occasionally occur and has established procedures for approving exceptions to these policies.

In underwriting loans, primary emphasis is placed on the borrower’s financial condition, including ability to generate cash flow to support the debt and other cash expenses. In addition, substantial consideration is given to collateral value and marketability as well as the borrower’s character, reputation and other relevant factors. Interest rates charged by the Bank vary with degree of risk, type, size, complexity, repricing frequency and other relevant factors associated with the loans. Competition from other financial services companies also impacts interest rates charged on loans.



   Company Address: One Chemung Canal Plaza Elmira 14901 NY
   Company Phone Number: 737-3711   Stock Exchange / Ticker: NASDAQ CHMG
   


Customers Net Income grew by CHMG's Customers Net Profit Margin grew to

76.24 %

15.09 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BK        1.35% 
BPOP        1.06% 
CFG        3.39% 
FCNCA        1.42% 
FITB   -0.21%    
NTRS   -1.6%    
• View Complete Report
   



Chemung Financial Corp

Breaking News: Chemung Financial Corp. Sees Impressive 2.762% Revenue Increase in First Quarter of 2024

During the past 5 trading days, Chemung Financial Corp shares experienced a decline of -2.4%. However, comparing the shares from a year before, they have actually improved by 7.99%. Currently trading on the NASDAQ, the shares are 1.9% above their 52-week average.
Despite a revenue increase of 2.762%, Chemung Financial Corp saw a decline in income of -3.9% in the period from January to March 31, 2024, compared to the same quarter the previous year. The company's revenue for this period was $25.79 million, with earnings per share (EPS) of $1.48.

Chemung Financial Corp

Regional Banks Company Faces Revenue Softness in Fourth Quarter of 2023

Chemung Financial Corporation, a regional bank company, recently reported their annual net income for the fiscal year ending December 31, 2023. The company reported a net income of $25.0 million, or $5.28 per share. However, their fourth quarter net income was $3.8 million, or $0.80 per share. This marks a significant decrease in both top and bottom-line performances for the company compared to the previous year.
In the fourth quarter of 2023, Chemung Financial Corporation experienced a decline in income per share by -49.71% and a decrease in revenue by -14.836% compared to the same period in 2022. The company reported revenue of $21.47 million in the fourth quarter, down from $25.21 million in the previous year. Additionally, earnings per share dropped to $0.80 from $1.58 in the fourth quarter of 2022.

Chemung Financial Corp

Enhanced Growth: Revenue and Eps Surge by Double Digits in the Fiscal Third Quarter of 2023 for Chemung Financial Corp.

During the past 5 trading days, Chemung Financial Corp stock experienced a slight increase of 0.23%. However, when looking at the year-to-date performance, the stock has seen a decline of -3.52%. Currently trading on the NASDAQ, Chemung Financial Corp stock is positioned 3.2% above its 52-week average.
These recent figures are reflective of the company's performance up until Sep 30, 2023. Chemung Financial Corp, as a regional bank, has disclosed double-digit revenue and income growth during this fiscal timeframe. In terms of revenue, the company reported $25.38 million, representing an 11.44% increase year on year and a 6.595% increase quarter on quarter. In parallel, the company's income rose by 17.52% to $1.61. Sequentially, income grew even further by 21.05%.

Chemung Financial Corp

Chemung Financial Corp witnesses a slight decrease in revenue during the latest fiscal period, says Regional Banks company



The recent financial earnings report released by Chemung Financial Corp (CHMG) reflects a decline in both income and revenue for the most recent fiscal period. However, the company's performance is in stark contrast to the rest of the Regional Banks sector, which recorded a significant revenue improvement of 15.23% during the second quarter of 2023 compared to the same period the previous year.
Earnings Analysis:
CHMG experienced a -22.67% decrease in income, resulting in earnings per share falling to $1.33. The decline in revenue amounted to -3.635%, reaching $23.81 million. This drop signals a challenging period for the company, as it failed to maintain positive growth in both income and revenue.

Chemung Financial Corp

EPS Lags Behind Revenue at Chemung Financial Corp in Q1 2023, Despite Overall Ranking Improvement

Chemung Financial Corp has reported its financial results for the first quarter of 2023, achieving a return on average invested assets (ROI) of 1.45%. This is below the company's average ROI of 7.9%. The decline in net income resulted in a decrease in ROI from the period ending on December 31, 2022.
Although the company's ROI was lower than expected, Chemung Financial Corp's overall ranking saw a progression in the first quarter of 2023. The overall ROI ranking improved from 2311 in the fourth quarter of 2022 to 1703. However, within the Financial sector, 417 other companies had higher ROIs.






 

Chemung Financial's Segments
 
 
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  Company Estimates  
  Revenue Outlook
Chemung Financial does not provide revenue guidance.

Earnings Outlook
Chemung Financial Corp does not provide earnings estimates.

 
Geographic Revenue Dispersion




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