How Analysts Feel About Chemung Financial Corporation (CHMG) After Forming Double Bottom?

September 8, 2018 - By Vernon Prom

Investors sentiment decreased to 0.95 in Q1 2018. Its down 1.80, from 2.75 in 2017Q4. It is negative, as 5 investors sold Chemung Financial Corporation shares while 17 reduced holdings. 7 funds opened positions while 14 raised stakes. 1.57 million shares or 2.22% more from 1.54 million shares in 2017Q4 were reported.
Renaissance Ltd Limited Liability Company owns 55,957 shares. Massachusetts-based Martingale Asset Management Limited Partnership has invested 0.01% in Chemung Financial Corporation (NASDAQ:CHMG). Macquarie Grp Ltd holds 5,116 shares. Lsv Asset Mngmt owns 13,750 shares. Ativo Capital Mgmt Limited Liability Corporation stated it has 21,006 shares. Barclays Public Limited Company reported 0% stake. California Employees Retirement System reported 5,500 shares. First Manhattan Com holds 0.03% or 99,475 shares in its portfolio. Moreover, Geode Cap Mngmt Limited Co has 0% invested in Chemung Financial Corporation (NASDAQ:CHMG). State Common Retirement Fund holds 0% or 3,400 shares. Jpmorgan Chase & owns 6,742 shares. Fincl Bank Of New York Mellon stated it has 0% of its portfolio in Chemung Financial Corporation (NASDAQ:CHMG). Invesco Ltd stated it has 4,515 shares or 0% of all its holdings. Panagora Asset Management owns 1,418 shares or 0% of their US portfolio. Hotchkis And Wiley Mgmt Ltd Liability accumulated 0% or 7,910 shares.

Since May 7, 2018, it had 2 insider buys, and 6 insider sales for $518,900 activity. Another trade for 2,000 shares valued at $95,000 was made by LOUNSBERRY STEPHEN M III on Monday, May 7. Shares for $42,700 were sold by POTTER JOHN F on Tuesday, August 21. Another trade for 485 shares valued at $22,727 was made by BUICKO DAVID M on Wednesday, May 9. $11,750 worth of stock was sold by Wirth Thomas W on Monday, July 23.

The chart of Chemung Financial Corporation (CHMG) shows a double bottom with $41.55 target or 6.00 % below today’s $44.20 share price. The 5 months chart pattern indicates high risk for the $212.33 million company. It was reported on Sep, 8 by If the $41.55 price target is reached, the company will be worth $12.74M less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.38% or $0.6 during the last trading session, reaching $44.2. About 11,990 shares traded or 22.85% up from the average. Chemung Financial Corporation (NASDAQ:CHMG) has risen 30.05% since September 8, 2017 and is uptrending. It has outperformed by 17.48% the S&P500.

Another recent and important Chemung Financial Corporation (NASDAQ:CHMG) news was published by which published an article titled: “Chemung Financial Announces Quarterly Dividend” on August 16, 2018.

Chemung Financial Corporation operates as the holding firm for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company has market cap of $212.33 million. It offers demand, savings, and time deposits; non-interest and interest-bearing checking accounts; and insured money market accounts. It has a 25.16 P/E ratio. The firm also provides commercial and agricultural loans primarily consisting of loans to small to mid-sized businesses; commercial mortgage loans; residential mortgage loans; and consumer loans, including home equity lines of credit and home equity loans, as well as letters of credit.

Chemung Financial Corporation (NASDAQ:CHMG) Institutional Positions Chart

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