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Chemung Financial (CHMG)
NASDAQ:CHMG
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Chemung Financial
(NASDAQ:CHMG)
71Outperform
Chemung Financial (CHMG) vs. S&P 500 (SPY)
Market Cap
$232.27M
Dividend Yield2.58%
Average Volume (3M)20.61K
Price to Earnings (P/E)9.7
Beta (1Y)0.56
Revenue Growth9.42%
EPS Growth-6.09%
CountryUS
Employees339
SectorFinancial
Sector Strength77
IndustryBanking
Share Statistics
EPS (TTM)4.96
Shares Outstanding4,758,567
10 Day Avg. Volume33,724
30 Day Avg. Volume20,615
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)2.43
Price to Cash Flow (P/CF)6.20
P/FCF Ratio2.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$58.50Price Target Upside19.85% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Chemung Financial Business Overview & Revenue Model
Company DescriptionChemung Financial Corporation (CHMG) is a financial holding company headquartered in Elmira, New York. It operates primarily through its principal subsidiary, Chemung Canal Trust Company, which provides a wide range of financial services. These services include personal and commercial banking, wealth management, and investment services. The company targets individual, business, and municipal customers, primarily across the Southern Tier of New York and Northern Tier of Pennsylvania.
How the Company Makes MoneyChemung Financial Corporation generates revenue primarily through its banking and financial services. The company's key revenue streams include interest income from loans and investment securities, fees for banking services, and income from wealth management and investment advisory services. The interest income is generated from various types of loans, including commercial, residential, and consumer loans. Another significant source of revenue is non-interest income, which comes from service charges on deposit accounts, trust and investment services, and other fee-based services. The company benefits from strong customer relationships within its regional market and strategic partnerships that enhance its service offerings and market reach.
Chemung Financial Financial Statement Overview
Summary
Chemung Financial displays solid financial health with strong revenue growth and profitability margins. The balance sheet is stable, supported by low leverage and good equity growth. However, cash flow performance has weakened, which may impact liquidity if not addressed.Income Statement
Chemung Financial has demonstrated strong revenue growth, with total revenue increasing from $95.74M in 2023 to $141.75M in the TTM period. The gross profit margin is robust, standing at approximately 74.34% for the TTM. The net profit margin for the TTM is 15.21%, indicating good profitability. However, there is a slight decline in EBIT and EBITDA margins compared to previous periods, reflecting rising operational costs.78
Positive
Balance Sheet
The balance sheet of Chemung Financial shows a stable financial position with an equity ratio of 7.95% in the TTM, though slightly lower than in previous years. The debt-to-equity ratio is low at 0.27 for the TTM, indicating conservative leverage. Return on equity (ROE) is strong at 9.77%, reflecting efficient use of equity to generate profits. The company's equity has grown over time, supporting financial stability.82
Very Positive
Cash Flow
The cash flow statement shows a decline in operating cash flow from $30.88M in 2023 to $5.62M in the TTM, which may raise concerns about cash generation efficiency. Free cash flow has also decreased, with a growth rate of -81.53% compared to the previous period. The operating cash flow to net income ratio is low at 0.26, indicating a need for improved cash conversion. Despite these challenges, the company maintains positive free cash flow.70
Positive
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 141.75M | 95.74M | 94.61M | 88.42M | 82.87M | 79.90M |
| Gross Profit | |||||
| 105.39M | 95.74M | 94.61M | 88.42M | 82.87M | 79.90M |
| EBIT | |||||
| 28.46M | 31.50M | 44.19M | 33.76M | 23.87M | 19.04M |
| EBITDA | |||||
| 29.27M | 34.30M | 39.91M | 37.26M | 28.13M | 23.48M |
| Net Income Common Stockholders | |||||
| 21.56M | 25.00M | 28.78M | 26.43M | 19.26M | 15.61M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 372.23M | 630.17M | 688.46M | 819.01M | 663.15M | 405.99M |
| Total Assets | |||||
| 1.76B | 2.71B | 2.65B | 2.42B | 2.28B | 1.79B |
| Total Debt | |||||
| 4.30M | 40.80M | 201.57M | 25.86M | 11.11M | 12.17M |
| Net Debt | |||||
| -125.67M | 3.95M | 145.70M | -1.12M | -97.42M | -109.73M |
| Total Liabilities | |||||
| 1.59B | 2.52B | 2.48B | 2.21B | 2.08B | 1.61B |
| Stockholders Equity | |||||
| 165.03M | 195.24M | 166.39M | 211.46M | 199.70M | 182.63M |
| Cash Flow | Free Cash Flow | ||||
| 5.62M | 30.42M | 34.62M | 35.09M | 27.79M | 25.52M |
| Operating Cash Flow | |||||
| 5.62M | 30.88M | 35.05M | 35.46M | 28.66M | 26.41M |
| Investing Cash Flow | |||||
| -43.35M | -82.38M | -252.62M | -242.48M | -495.85M | -32.71M |
| Financing Cash Flow | |||||
| 21.04M | 32.48M | 246.46M | 125.47M | 453.82M | -1.76M |
Chemung Financial Technical Analysis
Negative
48.81
Price Trends
49.26
Negative
49.84
Negative
47.66
Positive
Market Momentum
-0.47
Positive
42.31
Neutral
27.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CHMG, the sentiment is Negative. The current price of 48.81 is below the 20-day moving average (MA) of 50.35, below the 50-day MA of 49.26, and above the 200-day MA of 47.66, indicating a neutral trend. The MACD of -0.47 indicates Positive momentum. The RSI at 42.31 is Neutral, neither overbought nor oversold. The STOCH value of 27.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CHMG.
Chemung Financial Risk Analysis
Chemung Financial disclosed 39 risk factors in its most recent earnings report. Chemung Financial reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Chemung Financial Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $232.27M | 9.67 | 11.53% | 2.58% | 9.42% | -6.09% | |
71 Outperform | $2.37B | 10.11 | 9.72% | 3.88% | 9.95% | -11.02% | |
68 Neutral | $86.56M | 8.87 | 9.70% | 3.24% | 13.06% | 9.31% | |
67 Neutral | $683.27M | 19.03 | 4.78% | 4.20% | 10.94% | 26.35% | |
65 Neutral | $850.17M | 10.59 | 9.62% | 2.71% | 17.70% | 3.88% | |
65 Neutral | $930.30M | 12.77 | 10.25% | 3.88% | 41.65% | 668.73% | |
64 Neutral | $14.07B | 10.39 | 9.05% | 4.28% | 17.01% | -7.59% |
* Financial Sector Average
Performance Comparison
CHMG
Chemung Financial
48.81
8.02
19.66%
FFBC
First Financial Bancorp
24.85
4.56
22.47%
HBNC
Horizon Bancorp
15.63
4.42
39.43%
TMP
Tompkins Financial Corporation
64.45
19.37
42.97%
UBOH
United Bancshares
27.60
9.45
52.07%
FMBH
First Mid-Illinois Bancshares
35.45
6.62
22.96%
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.