In the second quarter, Chemung Financial Corp. (CHMG, Financial) reported a rise in net interest margin, which climbed by nine basis points to reach 3.05%, compared to 2.96% in the first quarter. Additionally, the company's tangible book value per share increased to $44.31 as of June 30, 2025, up from $40.55 at the end of 2024.
CEO Anders Tomson highlighted two significant strategic steps undertaken during the quarter, which included issuing subordinated debt and offloading a substantial portion of the securities portfolio. These measures were aimed at bolstering regulatory capital, improving commercial real estate concentration ratios, and enhancing flexibility for funding loan growth in key markets. This positions the company to benefit from reduced funding costs starting in the third quarter.
Furthermore, Chemung Financial's solid core operating results reflect its robust customer base and strategic discipline. The organization’s focus on recruiting deposit-oriented personnel in growth areas is expected to complement the strong loan demand observed across its operational footprint.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for Chemung Financial Corp (CHMG, Financial) is $55.50 with a high estimate of $56.00 and a low estimate of $55.00. The average target implies an upside of 4.21% from the current price of $53.26. More detailed estimate data can be found on the Chemung Financial Corp (CHMG) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, Chemung Financial Corp's (CHMG, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Chemung Financial Corp (CHMG, Financial) in one year is $53.78, suggesting a upside of 0.98% from the current price of $53.26. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Chemung Financial Corp (CHMG) Summary page.
