Chemical Financial Seeing Decent Growth, But There's Still Work To Do [Seeking Alpha]
CHEMICAL FINANCIAL (CHFC)
Last chemical financial earnings: 7/24 04:20 pm
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US:NASDAQ Investor Relations:
chemicalbank.com/about/news-and-events/chemical-financial-corporation-announces-fourth-quarter-and-full-year-2014-earnings-conference-call
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Source: Seeking Alpha
Summary Chemical Financial posted a decent second quarter, with higher spread income and lower expenses offsetting higher provisions. Winning Detroit's banking business is a solid coup, but Chemical Financial remains dependent upon loan growth to drive earnings with low spread leverage and fee income. Chemical Financial shares look more or less fairly valued, but high single-digit earnings growth can still drive decent returns and M&A is an option. Michigan’s Chemical Financial ( CHFC ) has been doing alright. The shares had basically been tracking the regional bank indices on a year-to-date basis, but still outperforming on a full-year basis, and second quarter results should have investors feeling reasonably good about the near-term growth prospects. In addition to decent loan growth, Chemical Financial announced that it won the banking business of the city of Detroit, a relationship that should bring in around $500 million of lower-cost deposits that the bank can us
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