Sorrento Research 196 Followers

Summary

Chemung Financial Corporation is rated BUY, justified by above-sector EPS and ROE growth and strong 3Q26 results.

CHMG's expansion in Western New York leverages semiconductor supply chain growth, supporting future commercial loan and deposit growth.

Loan growth (+9% YoY) outpaces deposits (+1% YoY), pushing the loan-to-deposit ratio to 101%, potentially constraining future lending.

Valuation remains at a premium (1.6x tangible book), supported by 18% estimated GAAP EPS growth and a forward ROE of 4.6%.

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Summary

I last wrote on Chemung Financial Corporation (CHMG) in late July with a BUY rating where the stock has been up 2% since that time while seeing a 61% 1-year share price appreciation. While the

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Sorrento Research 196 Followers

I am a specialist in global equities after having been a sellside analyst outside of the US for 13 years.…