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Chemung Financial Corp. - CHMG STOCK NEWS

Welcome to our dedicated news page for Chemung Financial (Ticker: CHMG), a resource for investors and traders seeking the latest updates and insights on Chemung Financial.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Chemung Financial's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Chemung Financial's position in the market.

Rhea-AI Summary
Chemung Financial Corporation (CHMG) declares a quarterly cash dividend of $0.31 per share, payable on April 1, 2024, to common stock shareholders. The company, with a market cap of $2.7 billion, operates through its subsidiary, Chemung Canal Trust Company, offering a range of financial services.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.26%
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dividends
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Rhea-AI Summary
Chemung Financial Corporation (CHMG) reported a net income of $25.0 million for the year ended December 31, 2023, a decrease from the previous year. The corporation celebrated its 190th anniversary in 2023, and its share value appreciated by 8.6% from December 31, 2022. The net interest margin was 2.85% for 2023, compared to 3.05% for the prior year. Non-interest income increased by 14.5%, while non-interest expense increased by 8.4%. The provision for credit losses increased by $3.9 million. The total equity to total assets ratio improved to 7.20% in 2023. Fourth quarter net interest income decreased by 0.6% compared to the previous quarter. The effective tax rate decreased to 20.6% for the year ended December 31, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.61%
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earnings
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Rhea-AI Summary
Chemung Financial Corporation (CHMG) approves a quarterly cash dividend of $0.31 per share, payable on January 2, 2024, to common stock shareholders of record as of December 19, 2023. The company, a $2.7 billion financial services holding company, operates through its principal subsidiary, Chemung Canal Trust Company, and offers non-traditional services through its subsidiaries CFS Group, Inc. and Chemung Risk Management, Inc. Established in 1833, Chemung Canal Trust Company is the oldest locally-owned and managed community bank in New York State.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.59%
Tags
dividends
Rhea-AI Summary
Chemung Financial Corporation reports net income of $7.6 million for Q3 2023, an increase of 16% compared to Q3 2022. Commercial loan growth approximated 9.9% on an annualized basis. Total deposits increased by 3.5% to $2.473 billion. Non-performing loans to total loans decreased from 0.45% to 0.35%. Non-interest income increased by 56% to $7.8 million. Non-interest expense increased by 7.5% to $15.7 million. Income tax expense increased to $2.1 million. Net interest income decreased by 5.3% to $18.0 million. The Corporation demonstrated solid financial performance in the third quarter.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.9%
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earnings
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Rhea-AI Summary
Chemung Financial Corporation (Nasdaq: CHMG) has announced a quarterly cash dividend of $0.31 per share. The dividend will be payable on October 2, 2023, to common stock shareholders of record as of September 18, 2023. Chemung Financial Corporation is a $2.7 billion financial services holding company headquartered in Elmira, New York. It operates 31 offices through its principal subsidiary, Chemung Canal Trust Company, which is the oldest locally-owned and managed community bank in New York State. Chemung Financial Corporation also owns CFS Group, Inc., a financial services subsidiary, and Chemung Risk Management, Inc., a captive insurance company based in Nevada.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.42%
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dividends
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Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.35%
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earnings
Rhea-AI Summary
Chemung Financial Corporation announced the appointment of Dale M. McKim III as Executive Vice President, Chief Financial Officer, and Treasurer. McKim brings over 25 years of finance and risk-management experience to the company. He will officially join on July 1, 2023, following the retirement of Karl F. Krebs on June 30, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.3%
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management
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Rhea-AI Summary
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End-of-Day
-0.98%
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dividends
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1.72%
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none
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.68%
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dividends
Chemung Financial Corp.

Nasdaq:CHMG

CHMG Rankings

CHMG Stock Data

199.86M
3.19M
18.44%
39.69%
0.42%
Commercial Banking
Finance and Insurance
Link
United States
Elmira

About CHMG

chemung canal trust company is an independent community bank, which has served the financial needs of businesses and individuals for over 180 years. we trace our roots to the opening of our namesake, the chemung canal, in 1833. today, we operate 34 branch offices in 11 new york state counties and one pennsylvania county. most important, we remain steadfast to our community banking philosophy and business model, which means we build long-term relationships with our clients and play a vital role in the communities we serve. deposits gathered locally are channeled back into our local communities in the form of loans to businesses, individuals, organizations and other enterprises. decisions are made locally, not in some far-off distant city.