CHMG Overview

Earnings Growth: CHEMUNG FINANCIAL CORP reported third-quarter earnings of $7.79 million, or $1.62 per share, an increase from $5.72 million, or $1.19 per share, in the previous year.

Interest and Dividend Income: The company's total interest and dividend income rose to $33.88 million compared to $32.36 million last year.

Dividend Increase Announcement: Chemung Financial Corporation has approved a $0.02 increase in its quarterly dividend, raising it to $0.34 per share, payable on October 1, 2025.

Percentage Increase: This increase represents a 6.3% rise over the previous dividend and brings the total cumulative increase for 2025 to $0.03 per share, or 9.7%.

Company Background: Chemung Financial Corporation is a $2.9 billion financial services holding company based in Elmira, New York, operating through its subsidiary, Chemung Canal Trust Company, which is the oldest community bank in New York State.

Additional Services: The corporation also includes CFS Group, Inc., offering various non-traditional financial services such as mutual funds, annuities, brokerage, tax preparation, and insurance.

Earnings Performance: Chemung Financial Corp reported a loss of $6.45 million in Q2, compared to a profit of $4.99 million in the same period last year, with an EPS of -$1.35 versus $1.05 previously.

Analyst Expectations: Analysts had projected an earnings per share (EPS) of $0.39 for the quarter.

Positive Earnings Outlook for Chemung Financial: Analysts are increasingly optimistic about Chemung Financial's earnings, leading to higher estimates and a Zacks Rank #1 (Strong Buy), suggesting potential stock price growth.

Recent Stock Performance: The stock has gained 6.3% over the past month due to strong estimate revisions, making it an attractive option for investors looking to enhance their portfolios.