Chemical Financial: 4Q Earnings Snapshot
DETROIT (AP) _ Chemical Financial Corp. (TCF) on Friday reported fourth-quarter earnings of $91.4 million.
The bank, based in Detroit, said it had earnings of 58 cents per share. Earnings, adjusted for one-time gains and costs, were 75 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The financial holding company posted revenue of $538.7 million in the period. Its revenue net of interest expense was $508.6 million, which also topped Street forecasts. Five analysts surveyed by Zacks expected $500.6 million.
Chemical Financial shares have risen 17% since the beginning of the year. The stock has dropped almost 5% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TCF at https://www.zacks.com/ap/TCF