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Fly News Breaks for August 26, 2019
CHMG
Aug 26, 2019 | 17:21 EDT
DA Davidson analyst David Bishop initiated Chemung Financial with a Neutral rating and a price target of $42. The analyst notes that the bank offers a "stable" core deposit base in its legacy Finger Lakes, New York market and operates with an "impressively" low cost of funds. However, Bishop is also concerned with the headwinds for its net interest margins and sees a lack of "clear catalysts" for Chemung Financial.
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