# Chemung Financial Corporation (CHMG)

> Source: Nexqual · https://nexqual.com/CHMG · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Chemung Financial Corporation (CHMG), nexqual.com/CHMG" · informational, not investment advice.

**Price:** USD 83.88 (+0.78% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 83.23 · day 83.15–85.49 · 52w 50.05–86 · market cap $404M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $120M, net income $33.5M (27.9% margin) (SEC filings).
- Valuation: P/E 12.1x (avg 12.3x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $482K; 2 not under a Rule 10b5-1 plan ($482K); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y +61.4% vs S&P 500 +13.4%; 5Y +107.0% vs S&P 500 +76.9%.
- Next earnings: 2026-10-22, EPS estimate USD 1.93, revenue estimate $32.3M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $89.5M | $95.6M | $99.0M | $97.3M | $95.1M | $120M |
| Net income | $26.4M | $28.8M | $25.0M | $23.7M | $15.1M | $33.5M |
| EPS (diluted) | $5.64 | $6.13 | $5.28 | $4.96 | $3.14 | — |
| Free cash flow | $35.1M | $34.6M | $30.4M | $26.2M | $43.8M | $45.4M |
| Net margin | 29.5% | 30.1% | 25.3% | 24.3% | 15.9% | 27.9% |
| Revenue growth | +6.4% | +6.9% | +3.5% | -1.7% | -2.2% | — |
| Cash + short-term investments | $27.0M | $55.9M | $36.8M | $47.0M | $50.1M | — |
| Total debt | — | — | — | — | $131M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 12.1x · P/S 3.4x · P/FCF 8.9x · P/B 1.5x · FCF yield 11.22% · Earnings yield 8.29% · Dividend yield (paid, TTM) 1.62% · Buyback yield (TTM) 0.12%
P/E at fiscal year-ends: Dec 2025 17.7x, Dec 2024 9.8x, Dec 2023 9.4x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-16 | Cole Loren D | EVP & CIO | 5,160 | $431K | 30.7% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-04-27 | Tyrrell Thomas R. | Director | 788 | $51K | 8.9% | No | Too little history (no open-market trades in 2024 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | DA Davidson | Initiated | Buy | $95 |
| 2026-09-02 | Raymond James | Initiated | Outperform | $87 |
| 2026-07-28 | Keefe, Bruyette & Woods | Target raised | Market Perform | $77 → $81 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +61.4% | +107.0% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +61.6% | +15.7% |
| Volatility (annualized) | 29.0% | 24.7% |
| Max drawdown | -20.6% (Feb 2026→Mar 2026) | -34.0% (Jan 2023→May 2023) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 4.07 +3.04% · FITB (Fifth Third Bancorp) USD 52.98 -0.47% · DB (Deutsche Bank AG) USD 31.2 -0.89% · TFC (Truist Financial Corporation) USD 48.44 +0.04% · NWG (NatWest Group plc) USD 16.8 -1.12% · NU (Nu Holdings Ltd.) USD 15.16 +2.92%

## More
Full page: https://nexqual.com/CHMG · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CHMG's own 10-K filed 2026-03-13 (https://www.sec.gov/Archives/edgar/data/763563/000162828026017546/chmg-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Mastercard (MA) | "Interchange Revenue from Debit Card Transactions: The Corporation earns interchange fees from debit cardholder transactions conducted through the Mastercard payment network." |
| Partner | Applied Materials (AMAT) | "Major partners in the initiative include Applied Materials, Micron, IBM, and Tokyo Electron, and the facility aims to complement the existing semiconductor supply chain presence of companies such as ASML and GlobalFoundr…" |
| Partner | Micron Technology (MU) | "Major partners in the initiative include Applied Materials, Micron, IBM, and Tokyo Electron, and the facility aims to complement the existing semiconductor supply chain presence of companies such as ASML and GlobalFoundr…" |
| Partner | IBM (IBM) | "Major partners in the initiative include Applied Materials, Micron, IBM, and Tokyo Electron, and the facility aims to complement the existing semiconductor supply chain presence of companies such as ASML and GlobalFoundr…" |
| Partner | Tokyo Electron | "Major partners in the initiative include Applied Materials, Micron, IBM, and Tokyo Electron, and the facility aims to complement the existing semiconductor supply chain presence of companies such as ASML and GlobalFoundr…" |
| Partner | ASML (ASML) | "Major partners in the initiative include Applied Materials, Micron, IBM, and Tokyo Electron, and the facility aims to complement the existing semiconductor supply chain presence of companies such as ASML and GlobalFoundr…" |
| Partner | GlobalFoundries (GFS) | "Major partners in the initiative include Applied Materials, Micron, IBM, and Tokyo Electron, and the facility aims to complement the existing semiconductor supply chain presence of companies such as ASML and GlobalFoundr…" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| WMG | $3.2M | — | +6.6% |
| Interchange revenue from debit card transactions | $1.1M | — | -0.3% |
| Service charges on deposit accounts | $1.0M | — | -6.8% |
| Overdraft fees | $674,000 | — | -6.3% |
| Other | $364,000 | — | -7.8% |
| Total revenue | — | 100% | — |

## Company outlook (8-K filed 2026-10-22)

- "Also contributing to the decrease was lower loan growth in the current year period, which totaled $33.9 million, compared to growth of $69.9 million during the same period in the prior year, as well as favorable changes in model inputs in the current year period, including improvements in FOMC forecasts for national unemployment and GDP growth and in modeled prepayment speeds."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $1.93 | $1.84 | +5.1% | $32.3M | 5 |
| Next quarter (ends 2027-03-31) | $1.98 | $1.80 | +10.1% | $32.2M | 5 |
| Current fiscal year (ends 2026-12-31) | $7.61 | $7.38 | +3.1% | $125.3M | 5 |
| Next fiscal year (ends 2027-12-31) | $8.23 | $7.75 | +6.2% | $134.5M | 5 |