Stock Analysis Report

Executive Summary

Chemung Financial Corporation operates as a bank.

Snowflake Analysis

Flawless balance sheet established dividend payer.

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Share Price & News

How has Chemung Financial's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: CHMG's share price has been volatile over the past 3 months.

Market Performance

7 Day Return




US Banks


US Market

1 Year Return




US Banks


US Market

Return vs Industry: CHMG underperformed the US Banks industry which returned -31.1% over the past year.

Return vs Market: CHMG underperformed the US Market which returned -13.6% over the past year.

Shareholder returns

7 Day-11.4%-10.6%-4.1%
30 Day-22.3%-31.6%-19.1%
90 Day-36.6%-43.4%-23.4%
1 Year-42.6%-44.2%-31.8%-33.7%-13.2%-14.9%
3 Year-23.1%-28.7%-23.1%-28.7%10.7%3.5%
5 Year15.3%-0.4%2.3%-9.4%28.5%14.5%

Price Volatility Vs. Market

How volatile is Chemung Financial's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is Chemung Financial undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: CHMG ($28.86) is trading below our estimate of fair value ($54.25)

Significantly Below Fair Value: CHMG is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: CHMG is poor value based on its PE Ratio (9x) compared to the Banks industry average (8.8x).

PE vs Market: CHMG is good value based on its PE Ratio (9x) compared to the US market (12.9x).

Price to Earnings Growth Ratio

PEG Ratio: CHMG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.

Price to Book Ratio

PB vs Industry: CHMG is good value based on its PB Ratio (0.8x) compared to the US Banks industry average (0.8x).

Next Steps

Future Growth

How is Chemung Financial forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: CHMG's earnings are forecast to decline over the next 3 years (-1.7% per year).

Earnings vs Market: CHMG's earnings are forecast to decline over the next 3 years (-1.7% per year).

High Growth Earnings: CHMG's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CHMG's revenue (4.2% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: CHMG's revenue (4.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: CHMG's Return on Equity is forecast to be low in 3 years time (7.6%).

Next Steps

Past Performance

How has Chemung Financial performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CHMG has high quality earnings.

Growing Profit Margin: CHMG's current net profit margins (20.9%) are lower than last year (24.5%).

Past Earnings Growth Analysis

Earnings Trend: CHMG's earnings have grown by 16.5% per year over the past 5 years.

Accelerating Growth: CHMG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CHMG had negative earnings growth (-20.5%) over the past year, making it difficult to compare to the Banks industry average (10.9%).

Return on Equity

High ROE: CHMG's Return on Equity (8.5%) is considered low.

Next Steps

Financial Health

How is Chemung Financial's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Inventory Level: CHMG has a low level of unsold assets or inventory.

Debt Coverage by Assets: CHMG's debt is covered by short term assets (assets are 20x debt).

Financial Institutions Analysis

Asset Level: CHMG's level of assets compared to its equity is low.

Allowance for Bad Loans: CHMG has a sufficient allowance for bad loans.

Low Risk Liabilities: CHMG's liabilities are made up of primarily low risk sources of funding.

Loan Level: CHMG has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CHMG's loans are broadly funded by customer deposits.

Level of Bad Loans: CHMG has an appropriate level of bad loans (1.38%)

Next Steps


What is Chemung Financial's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: CHMG's dividend (3.6%) is higher than the bottom 25% of dividend payers in the US market (2%).

High Dividend: CHMG's dividend (3.6%) is low compared to the top 25% of dividend payers in the US market (5.56%).

Stability and Growth of Payments

Stable Dividend: CHMG's dividends per share have been stable in the past 10 years.

Growing Dividend: CHMG's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.4%), CHMG's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: CHMG's dividends in 3 years are forecast to be well covered by earnings (33.2% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Anders Tomson (52yo)





Mr. Anders M. Tomson has been the Chief Executive Officer and Director of Chemung Canal Trust Company and Chemung Financial Corporation since December 22, 2016. Mr. Tomson has been the President of Chemung ...

CEO Compensation Analysis

Compensation vs Market: Anders's total compensation ($USD802.00K) is above average for companies of similar size in the US market ($USD605.16K).

Compensation vs Earnings: Anders's compensation has been consistent with company performance over the past year.

Leadership Team

Anders Tomson
President3.33yrsUS$802.00k0.66% $850.1k
Karl Krebs
CFO, Executive VP & Treasurer6.5yrsUS$439.81k0.23% $300.2k
Thomas Wirth
Executive Vice President of Wealth Management Group5.25yrsUS$315.34k0.23% $298.7k
Daniel Fariello
President of Capital Bank Division2.25yrsUS$341.06k0.10% $130.2k
Loren Cole
Executive VP & Chief Information Officer2.92yrsno data0.065% $84.9k
Kathleen McKillip
Assistant VP & Corporate Secretaryno datano datano data
Pamela Burns
Senior Vice President of Human Resourcesno datano datano data
Norman Ward
SVP, Chief Auditor & Senior Investment Officerno datano datano data
Catherine Crandall
Senior Vice President of WMG Estate Administrationno datano datano data
Robert Pichette
Senior Vice President of Commercial Lendingno datano datano data


Average Tenure


Average Age

Experienced Management: CHMG's management team is considered experienced (3.3 years average tenure).

Board Members

Anders Tomson
President3.33yrsUS$802.00k0.66% $850.1k
Ronald Bentley
Director13.08yrsUS$102.36k1.04% $1.3m
Bruce Boyea
Independent Director9.08yrsUS$33.40k0.11% $146.3k
David Dalrymple
Independent Chairman of the Board27.25yrsUS$81.61k7.72% $10.0m
Robert Dalrymple
Independent Director25.25yrsUS$44.28k4.85% $6.3m
Stephen Lounsberry
Independent Director25.25yrsUS$50.30k0.35% $452.5k
Richard Swan
Independent Director36.25yrsUS$47.87k1.48% $1.9m
David Buicko
Independent Director2.08yrsUS$19.63k0.072% $93.9k
Thomas Tyrrell
Independent Director6.17yrsUS$43.37k0.12% $153.8k
G. Tranter
Independent Director6.17yrsUS$43.77k0.47% $614.6k


Average Tenure


Average Age

Experienced Board: CHMG's board of directors are seasoned and experienced ( 11.1 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: CHMG insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Chemung Financial Corporation's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Chemung Financial Corporation
  • Ticker: CHMG
  • Exchange: NasdaqGS
  • Founded: 1833
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$129.747m
  • Shares outstanding: 4.87m
  • Website:

Number of Employees


  • Chemung Financial Corporation
  • One Chemung Canal Plaza
  • Elmira
  • New York
  • 14901
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CHMGNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJan 1975


Chemung Financial Corporation operates as a bank. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. It's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases. The company offers consumer loans, including credit card loans, revolving credit plans, and automotive loans. The company offers commercial real estate loans for land development and on-site construction of industrial, commercial, residential, or farm buildings in the United States; real estate-backed residential loans; and commercial loans collateralized by real estate properties. The company offers domestic and foreign commercial and industrial loans. The company offers loans for the purpose of financing agricultural production; loans which include planned and unplanned overdrafts, to governments in non-U.S. countries, to their official institutions, and to international and regional institutions. For 2017, it has an asset value of 1.7 million USD. The bank has generated a net income of 7,430 USD in December 31, 2017. Chemung Financial Corporation was founded in 1833 and is based in Elmira, New York. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/03 23:49
End of Day Share Price2020/04/03 00:00
Annual Earnings2019/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.