KBRA Assigns Ratings to Chemung Financial Corporation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 27 2025
0mins
Should l Buy CHMG?
Source: Newsfilter
Credit Ratings Assigned: KBRA has assigned Chemung Financial Corporation a senior unsecured debt rating of BBB and a subordinated debt rating of BBB-, while its subsidiary, Chemung Canal Trust Company, received higher ratings of BBB+ for deposits and senior unsecured debt. The outlook for all long-term ratings is stable.
Financial Performance Insights: Chemung Financial's core earnings are supported by predictable non-spread revenue and a conservative liquidity management approach, although it faces challenges with a large underwater securities portfolio and elevated investor CRE concentration. Management plans to focus on commercial lending in new markets to enhance growth.
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Analyst Views on CHMG
Wall Street analysts forecast CHMG stock price to rise
1 Analyst Rating
0 Buy
1 Hold
0 Sell
Hold
Current: 59.300
Low
60.00
Averages
60.00
High
60.00
Current: 59.300
Low
60.00
Averages
60.00
High
60.00
About CHMG
Chemung Financial Corporation is a financial holding company. The Company through the Chemung Canal Trust Company (Bank) and CFS Group, Inc (CFS), provides a 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 Company primarily focuses on banking and wealth management services. Its core banking segment attracts deposits from the public and uses such funds to originate consumer, commercial, commercial real estate, and other loans. Wealth management services provided by the Bank include services as executor and trustee under wills and agreements, and guardian, custodian, trustee, and agent for pension, profit-sharing and other employee benefit trusts, as well as various investment, pension, estate planning, and employee benefit administrative services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Chemung Financial Reports Record Q1 Earnings and Efficiency
- Profitability Surge: Chemung Financial's Q1 GAAP EPS reached $1.91 with revenues of $29.9 million, indicating a significant enhancement in profitability that reflects the company's robust financial management and market performance.
- Historic Efficiency Ratio: The quarterly adjusted efficiency ratio of 58.27% marks the lowest in the corporation's history, improving by 1.85% from Q4 2025 and 7.37% from Q1 2025, highlighting a historic breakthrough in cost control and operational efficiency.
- Strong Loan Growth: Annualized loan growth totaled 7.5%, with nearly 15% growth in the Western New York Canal Bank division, demonstrating strong market demand in the region and the success of the company's expansion strategy.
- New Office Opening: The corporation opened a representative office in downtown Buffalo, New York, to support the growing operations of its Canal Bank division, which will further enhance its influence and service capabilities in the local market.
See More
Regional Banks Exceed Q1 Earnings Expectations
- Strong Regional Bank Performance: Regional banks have kicked off the Q1 earnings season positively, benefiting from a normalized yield curve and improved loan activity, which significantly enhances profitability and investor sentiment, driving up valuations.
- Impressive Results from Bank7: Bank7 reported Q1 EPS of $1.25, exceeding expectations by 23.76% and showing a 15.74% increase from the previous year, reflecting strong market performance in Oklahoma, Kansas, and Texas.
- Chemung Financial Surpasses Expectations: Chemung Financial achieved Q1 EPS of $1.91, 17% above estimates and over 50% higher year-over-year, indicating robust operations in southern New York and northern Pennsylvania.
- Increased Investment Appeal: With rising EPS estimates and attractive P/E ratios, these regional banks' dividend yields and improving industry outlook make them focal points for investors, suggesting that current market conditions may present an ideal buying opportunity.
See More
Chemung Financial Reports Record Earnings in Q1 2026
- Record Quarterly Earnings: Chemung Financial Corporation reported a net income of $9.2 million and earnings per share of $1.91 for Q1 2026, marking the highest quarterly earnings in the company's history, reflecting a 14.6% increase from Q4 2025 and validating the effectiveness of strategic initiatives.
- Efficiency Ratio at Historic Low: The adjusted efficiency ratio for Q1 was 58.27%, improving by 1.85% from Q4 2025, indicating significant progress in cost control and operational efficiency, which enhances profitability.
- Strong Loan Growth: The annualized loan growth rate for Q1 was 7.5%, with nearly 15% growth in the Western New York Canal Bank division, demonstrating robust demand and successful market expansion, further solidifying the company's market position.
- Increased Dividends: A dividend of $0.34 per share was declared in Q1 2026, reflecting the company's commitment to returning value to shareholders while maintaining strong earnings growth, thereby boosting investor confidence.
See More
Chemung Financial Declares Quarterly Dividend of $0.34
- Quarterly Dividend Announcement: Chemung Financial declares a quarterly dividend of $0.34 per share, consistent with previous distributions, reflecting the company's stable cash flow and profitability.
- Dividend Yield: The forward yield of 2.3% provides investors with a relatively stable return, enhancing the company's attractiveness in the current market environment.
- Payment Schedule: The dividend is payable on April 1, with a record date of March 18 and an ex-dividend date also on March 18, ensuring shareholders receive their earnings promptly.
- Investor Confidence: By maintaining its dividend payments, Chemung Financial further bolsters investor confidence, indicating an optimistic outlook on the company's future financial performance.
See More
Chemung Financial Corporation Declares Quarterly Cash Dividend
- Quarterly Cash Dividend: Chemung Financial Corporation's Board of Directors has approved a quarterly cash dividend of $0.34 per share, payable on April 1, 2026, aimed at enhancing shareholder returns and attracting more investor interest.
- Company Size and History: Chemung Financial Corporation is a $2.7 billion financial services holding company established in 1833, operating 30 offices, and as the oldest locally-owned community bank in New York State, it demonstrates a strong market position and customer trust.
- Full-Service Banking: Its principal subsidiary, Chemung Canal Trust Company, offers comprehensive banking services and full trust powers, catering to diverse financial needs of clients and further solidifying the company's importance in the community.
- Diverse Financial Services: Chemung Financial Corporation also owns CFS Group, Inc., which provides non-traditional financial services including mutual funds, annuities, brokerage services, tax preparation, and insurance, enhancing its market competitiveness and customer base.
See More
Chemung Financial Reports Strong Q4 Earnings
- Earnings Performance: Chemung Financial's Q4 GAAP EPS of $1.61 aligns with market expectations, demonstrating the company's ongoing commitment to maintaining stable profitability.
- Significant Revenue Growth: The company reported revenue of $30.51 million, a 17.9% year-over-year increase, exceeding market expectations by $1.03 million, indicating strong business momentum, particularly in lending and deposit services.
- Positive Market Reaction: The revenue beat may positively impact Chemung Financial's stock price, enhancing investor confidence in its future growth potential.
- Strong Financial Health: The continuous revenue growth and stable profitability suggest a solid financial position, providing a robust foundation for future investments and expansion.
See More
Chemung Financial Reports Record Q1 Earnings and Efficiency
- Profitability Surge: Chemung Financial's Q1 GAAP EPS reached $1.91 with revenues of $29.9 million, indicating a significant enhancement in profitability that reflects the company's robust financial management and market performance.
- Historic Efficiency Ratio: The quarterly adjusted efficiency ratio of 58.27% marks the lowest in the corporation's history, improving by 1.85% from Q4 2025 and 7.37% from Q1 2025, highlighting a historic breakthrough in cost control and operational efficiency.
- Strong Loan Growth: Annualized loan growth totaled 7.5%, with nearly 15% growth in the Western New York Canal Bank division, demonstrating strong market demand in the region and the success of the company's expansion strategy.
- New Office Opening: The corporation opened a representative office in downtown Buffalo, New York, to support the growing operations of its Canal Bank division, which will further enhance its influence and service capabilities in the local market.
See More
Regional Banks Exceed Q1 Earnings Expectations
- Strong Regional Bank Performance: Regional banks have kicked off the Q1 earnings season positively, benefiting from a normalized yield curve and improved loan activity, which significantly enhances profitability and investor sentiment, driving up valuations.
- Impressive Results from Bank7: Bank7 reported Q1 EPS of $1.25, exceeding expectations by 23.76% and showing a 15.74% increase from the previous year, reflecting strong market performance in Oklahoma, Kansas, and Texas.
- Chemung Financial Surpasses Expectations: Chemung Financial achieved Q1 EPS of $1.91, 17% above estimates and over 50% higher year-over-year, indicating robust operations in southern New York and northern Pennsylvania.
- Increased Investment Appeal: With rising EPS estimates and attractive P/E ratios, these regional banks' dividend yields and improving industry outlook make them focal points for investors, suggesting that current market conditions may present an ideal buying opportunity.
See More
Chemung Financial Reports Record Earnings in Q1 2026
- Record Quarterly Earnings: Chemung Financial Corporation reported a net income of $9.2 million and earnings per share of $1.91 for Q1 2026, marking the highest quarterly earnings in the company's history, reflecting a 14.6% increase from Q4 2025 and validating the effectiveness of strategic initiatives.
- Efficiency Ratio at Historic Low: The adjusted efficiency ratio for Q1 was 58.27%, improving by 1.85% from Q4 2025, indicating significant progress in cost control and operational efficiency, which enhances profitability.
- Strong Loan Growth: The annualized loan growth rate for Q1 was 7.5%, with nearly 15% growth in the Western New York Canal Bank division, demonstrating robust demand and successful market expansion, further solidifying the company's market position.
- Increased Dividends: A dividend of $0.34 per share was declared in Q1 2026, reflecting the company's commitment to returning value to shareholders while maintaining strong earnings growth, thereby boosting investor confidence.
See More
Chemung Financial Declares Quarterly Dividend of $0.34
- Quarterly Dividend Announcement: Chemung Financial declares a quarterly dividend of $0.34 per share, consistent with previous distributions, reflecting the company's stable cash flow and profitability.
- Dividend Yield: The forward yield of 2.3% provides investors with a relatively stable return, enhancing the company's attractiveness in the current market environment.
- Payment Schedule: The dividend is payable on April 1, with a record date of March 18 and an ex-dividend date also on March 18, ensuring shareholders receive their earnings promptly.
- Investor Confidence: By maintaining its dividend payments, Chemung Financial further bolsters investor confidence, indicating an optimistic outlook on the company's future financial performance.
See More
Chemung Financial Corporation Declares Quarterly Cash Dividend
- Quarterly Cash Dividend: Chemung Financial Corporation's Board of Directors has approved a quarterly cash dividend of $0.34 per share, payable on April 1, 2026, aimed at enhancing shareholder returns and attracting more investor interest.
- Company Size and History: Chemung Financial Corporation is a $2.7 billion financial services holding company established in 1833, operating 30 offices, and as the oldest locally-owned community bank in New York State, it demonstrates a strong market position and customer trust.
- Full-Service Banking: Its principal subsidiary, Chemung Canal Trust Company, offers comprehensive banking services and full trust powers, catering to diverse financial needs of clients and further solidifying the company's importance in the community.
- Diverse Financial Services: Chemung Financial Corporation also owns CFS Group, Inc., which provides non-traditional financial services including mutual funds, annuities, brokerage services, tax preparation, and insurance, enhancing its market competitiveness and customer base.
See More
Chemung Financial Reports Strong Q4 Earnings
- Earnings Performance: Chemung Financial's Q4 GAAP EPS of $1.61 aligns with market expectations, demonstrating the company's ongoing commitment to maintaining stable profitability.
- Significant Revenue Growth: The company reported revenue of $30.51 million, a 17.9% year-over-year increase, exceeding market expectations by $1.03 million, indicating strong business momentum, particularly in lending and deposit services.
- Positive Market Reaction: The revenue beat may positively impact Chemung Financial's stock price, enhancing investor confidence in its future growth potential.
- Strong Financial Health: The continuous revenue growth and stable profitability suggest a solid financial position, providing a robust foundation for future investments and expansion.
See More
