CHEMUNG FINANCIAL Experiences Significant Drop in Short Interest of 13.8% in November
December 24, 2022
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CHEMUNG FINANCIAL ($NASDAQ:CHMG) is a publicly traded financial services holding company based in Elmira, New York. It offers a range of banking, investment and insurance products through its subsidiaries. The company’s stock trades on the Nasdaq under the symbol CHMG. At the end of November, CHEMUNG FINANCIAL experienced a significant drop in short interest of 13.8%. Short interest is an indicator of investor sentiment and can be used to gauge whether a stock is likely to rise or fall in the near future. The decrease in short interest is likely a result of improved investor sentiment surrounding the company.
In addition, CHEMUNG FINANCIAL has been expanding its presence in the banking industry. The company recently announced its intention to acquire Liberty Bank & Trust Company, which will expand its offerings and customer base. This could further improve investor sentiment, as it would provide the company with a larger footprint in the banking industry. Overall, the decrease in short interest for CHEMUNG FINANCIAL indicates that investors are becoming more optimistic about the company’s prospects. The stock’s recent performance and expansion plans suggest that this optimism could be well-founded.
Stock Price
This is despite the fact that at the time of writing, media sentiment mostly were positive. On Monday, CHEMUNG FINANCIAL stock opened at $43.9 and closed at $43.5, down by 1.5% from the previous closing price of 44.2. The company reported third quarter earnings that were lower than expected, which could have been a contributing factor to the drop in short interest. Additionally, the company’s share price has been trending downward since the beginning of November, which could have caused investors to take a more cautious approach to investing in CHEMUNG FINANCIAL. It is important to keep in mind that short interest can be volatile and that this drop could be temporary.
However, it is likely that investors will be paying close attention to CHEMUNG FINANCIAL’s performance over the coming months to determine if this trend is likely to continue. Investors should also keep an eye on media sentiment regarding the company as this can be a good indicator of investor confidence. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Chemung Financial. More…
| Total Revenues | Net Income | Net Margin |
| – | 27.8 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Chemung Financial. More…
| Operations | Investing | Financing |
| 35.46 | -242.48 | 125.47 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Chemung Financial. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.55k | 2.4k | – |
Key Ratios Snapshot
Some of the financial key ratios for Chemung Financial are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.3% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
VI Analysis
Chemung Financial is a strong performer in terms of growth, asset, and dividend management, but may lack in terms of profitability. Using the VI Star Chart, one can easily see that the company is stronger in growth, asset, dividend, and medium in profitability. In terms of financial health, it has a high score of 9/10 due to its strong cashflows and debt management, which shows that it is capable of paying off debt and funding future operations. The company is classified as a ‘cheetah’ – a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. This means that investors with a higher risk tolerance may be drawn to this company. Such investors may be looking for high returns and are willing to take on the associated risks. Investors who are more conservative may be less likely to invest in such a company. Overall, Chemung Financial has strong fundamentals which reflect its long term potential. With good growth, asset, dividend, and cash flow management, it can be a good option for investors who are willing to take on the risks associated with a ‘cheetah’ company. More…
VI Peers
The company operates through its subsidiaries, Chemung Canal Trust Company and Chemung Valley Insurance Agency, Inc. It offers a range of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit; and loan products, such as residential mortgages, home equity lines of credit, commercial real estate loans, construction loans, commercial and industrial loans, and consumer loans. The company also provides a variety of other services, such as safe deposit box rentals, night depository services, direct deposit of payroll and social security checks, and wire transfer services. As of December 31, 2016, the company operated through a network of 33 full-service banking offices located in Chemung, Tompkins, Schuyler, Steuben, and Tioga Counties in New York. The company’s competitors include OFG Bancorp, ESSA Bancorp Inc, and BancFirst Corp.
– OFG Bancorp ($NYSE:OFG)
The company has a market cap of 1.33B as of 2022. The company is a leading provider of banking and financial services in the United States, with a strong focus on the retail and commercial markets. The company has a strong presence in the Northeast and Mid-Atlantic regions of the country, and offers a full range of banking and financial services to its customers. These include personal and business banking, lending, investments, and insurance. The company has a long history of serving its customers well and is committed to providing them with the best possible experience.
– ESSA Bancorp Inc ($NASDAQ:ESSA)
The company’s market cap is $222.15 million as of 2022. The company is a financial services provider that offers banking and lending products and services to consumers and businesses in the United States.
– BancFirst Corp ($NASDAQ:BANF)
BancFirst Corp is a financial services holding company headquartered in Oklahoma City, Oklahoma. As of December 31, 2020, BancFirst Corp had $12.2 billion in assets, $8.7 billion in loans, and $9.6 billion in deposits. BancFirst Corp operates 124 bank locations in 57 Oklahoma communities. The company’s primary subsidiary is BancFirst, which was chartered in 1931 and is the largest state-chartered bank in Oklahoma.
Summary
Investing in CHEMUNG FINANCIAL is an attractive opportunity for investors who are looking to diversify their portfolio and capitalize on potential long-term growth. The company has a history of providing consistent returns year after year, and its recent short interest drop of 13.8% in November highlights that the company is taking steps to improve its financial position and increase its stock value. CHEMUNG FINANCIAL is a publicly traded company that offers a variety of services and financial products to its clients. It has a strong presence in the banking and investments sectors, providing services such as asset management, private banking, corporate banking, and more. The company also offers a wide range of insurance products to its customers, ensuring that they are protected against unforeseen circumstances. The company has established itself as a reliable source of income and has been able to maintain a consistent dividend payout over the years.
It also has a strong balance sheet and a solid financial performance. Furthermore, CHEMUNG FINANCIAL is well diversified with its investments spread across different sectors and markets, providing investors with a degree of protection against volatility in the markets. The company’s recent short interest drop of 13.8% in November further highlights that the company is taking steps to improve its financial position and increase its stock value. With a strong balance sheet, a well-diversified portfolio, and consistent returns on equity, CHEMUNG FINANCIAL is an attractive option for investors looking to capitalize on long-term growth.
