Chemung Financial Corporation

AI-generated fair value estimate for this company.

Method: Justified price-to-tangible-book (residual income) model: $49.85 tangible book value per share (Q1 2026); return on tangible equity of 13.86% (TTM EPS $6.91 / tangible book $49.85); 10% cost of equity; 4% sustainable long-run growth. Justified P/B = (ROE - g)/(r - g) = (0.1386-0.04)/(0.10-0.04) = 1.643x; intrinsic value = 1.643 x $49.85 = $81.90.

Reasoning: Chemung Financial is a traditional community bank where earnings power scales off tangible book value and sustainable ROE rather than discrete free cash flow, so a residual-income/justified-P/B framework anchored to its current ~13.9% return on tangible equity is the standard and most appropriate valuation method for a bank holding company.