<div id="readability-page-1"><p>Empower Advisory Group LLC purchased a new position in  Chemung Financial Corp (NASDAQ:CHMG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,549 shares of the bank's stock, valued at approximately $802,000. Empower Advisory Group LLC owned approximately 0.35% of Chemung Financial at the end of the most recent reporting period.</p><div><p><span></span><span>Get <strong>Chemung Financial</strong> alerts:</span></p></div><p>A number of other institutional investors and hedge funds have also bought and sold shares of the company. Police &amp; Firemen s Retirement System of New Jersey bought a new position in shares of  Chemung Financial in the second quarter worth approximately $36,000.  PNC Financial Services Group Inc. bought a new position in  Chemung Financial in the 2nd quarter valued at approximately $67,000.  Atlantic Union Bankshares Corp purchased a new stake in  Chemung Financial during the 2nd quarter valued at $73,000.  JFS Wealth Advisors LLC bought a new stake in shares of  Chemung Financial in the 2nd quarter worth $88,000.  Finally, Nuveen LLC bought a new stake in shares of  Chemung Financial in the 1st quarter worth $228,000. 47.50% of the stock is currently owned by institutional investors. </p><h2>Chemung Financial Price Performance</h2><p>NASDAQ CHMG opened at $51.59 on Monday. The company has a 50-day moving average price of $51.95 and a 200-day moving average price of $50.45. Chemung Financial Corp has a 52 week low of $40.71 and a 52 week high of $55.73. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $247.12 million, a P/E ratio of 18.62 and a beta of 0.44. </p><p>Chemung Financial (NASDAQ:CHMG - Get Free Report) last announced its earnings results on Friday, July 25th. The bank reported $1.26 earnings per share (EPS) for the quarter. Chemung Financial had a net margin of 9.58% and a return on equity of 11.28%. The company had revenue of $25.71 million during the quarter.  Equities research analysts anticipate that  Chemung Financial Corp will post 5.38 earnings per share for the current year. </p><h2>Chemung Financial Increases Dividend</h2><p>The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th were paid a $0.34 dividend. This is a positive change from Chemung Financial's previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, September 17th. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. Chemung Financial's dividend payout ratio (DPR) is currently 49.10%. </p><h2>Insider Buying and Selling</h2><p>In related news, Director Jeffrey B. Streeter bought 2,184 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were bought at an average cost of $51.92 per share, for a total transaction of $113,393.28. Following the completion of the transaction, the director owned 32,726 shares of the company's stock, valued at approximately $1,699,133.92. This trade represents a 7.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities &amp; Exchange Commission, which is accessible through the SEC website. Corporate insiders own  12.04% of the company's stock. </p><h2>Analysts Set New Price Targets</h2><p>CHMG has been the topic of several recent analyst reports. Zacks Research cut Chemung Financial from a &#34;strong-buy&#34; rating to a &#34;hold&#34; rating in a research report on Friday, August 29th. Keefe, Bruyette &amp; Woods upped their target price on shares of Chemung Financial from $55.00 to $59.00 and gave the company a &#34;market perform&#34; rating in a research note on Monday, July 21st. Wall Street Zen raised shares of Chemung Financial from a &#34;hold&#34; rating to a &#34;buy&#34; rating in a report on Saturday, November 8th. Finally, Weiss Ratings  restated a &#34;hold (c)&#34; rating on shares of Chemung Financial in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Hold rating,  Based on data from MarketBeat, the company presently has a consensus rating of &#34;Hold&#34; and an average target price of $54.50.</p><p><b>View Our Latest Research Report on CHMG</b></p><h2>Chemung Financial Company Profile</h2> (Free Report)<p>Chemung Financial Corporation operates as a bank holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides demand, savings, and time deposits; non-interest and interest-bearing checking accounts; and insured money market accounts.</p><h2>Featured Stories</h2><ul><li>Five stocks we like better than Chemung Financial</li><li>What is a Stock Market Index and How Do You Use Them?</li><li>4 Cold-Weather Stocks to Buy as Winter Spending Heats Up</li><li>REIT Stocks - Best REIT Stocks to Add to Your Portfolio Today</li><li>Disney Stock Drops—Will Earnings Pave Way for a YouTube TV Truce?</li><li>What is a penny stock? A comprehensive guide</li><li>Meta’s Pain May Be Your Gain: Is This a Rare Buying Window?</li></ul><p><strong>Want to see what other hedge funds are holding CHMG?</strong> Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chemung Financial Corp (NASDAQ:CHMG - Free Report).</p><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9Q0hNRw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9Q0hNRw"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Chemung Financial Right Now?</h2><p>Before you consider Chemung Financial, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Chemung Financial wasn't on the list.</p><p>While Chemung Financial currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

CHMG

<p>Empower Advisory Group LLC acquired 16,549 shares of Chemung Financial Corp, valued at $802,000, during Q2. This represents 0.35% ownership. Chemung Financial's stock is held 47.50% by institutional investors. Analysts have mixed ratings, with a consensus "Hold" and a target price of $54.50. The company recently increased its quarterly dividend to $0.34 per share. Chemung Financial operates as a bank holding company offering various financial services.</p>

Empower Advisory Group LLC Takes $802,000 Position in Chemung Financial Corp $CHMG