Chemical Banking Corp.'s stock advanced in active trading Wednesday after the New York bank company said it would enjoy stronger than anticipated third-quarter results.

The announcement - which spurred other money-center banking stocks - offered a preview of the upcoming earnings season that may be rosier than analysts expected.

Chemical was up 25 cents a share, to $45.375, in late trading, and its stock ranked among the most actively traded issues on the New York Stock Exchange.

Citicorp, Chase Ahead

Meanwhile, Citicorp was ahead 37.5 cents, to $38.875 a share, and Chase Manhattan Corp. appreciated 25 cents, to $37.625.

John F. McGillicuddy, Chemical's chairman and chief executive officer, said results would top $1.37 per share. That is 20% more than Wall Street had expected, according to the $1.15 consensus estimate compiled by First Call Corp.

It is also 40% above the 98 cents Chemical earned in the same quarter a year ago and would stand as a record result for the company, which combined with Manufacturers Hanover Corp. in late 1991 to form the nation's third-largest bank.

After Mr. McGillicuddy's announcement, analyst Ronald I. Mandle of Sanford C. Bernstein & Co. raised his third-quarter estimate to $1.40, from $1.20, and reiterated the firm's "outperform" rating on Chemical's stock.

Mr. Mandle said he expects Chemical's loan-loss provision to fall to $300 million, from the second quarter's $308 million. His third-quarter estimate excludes an additional $55 million associated with disposition of $162 million of nonperforming residential mortgages.

Mr. Mandle said he expects the loan-loss provision to fall again in the fourth quarter.

Analysts had anticipated that money-center banks would do well this quarter in light of the lucrative environment for trading this summer. With the U.S. economy still sluggish, the global reach of these banks is also seen as an advantage.

But expectations have been elevated further as the reporting period approaches.

Money-Center Estimates Up

"Third-quarter results will clearly be better than we expected," said Lawrence W. Cohn of PaineWebber Inc., who recently raised estimates for the New York money-centers including Chemical, Citicorp, Chase Manhattan, Bankers Trust New York Co., and J.P. Morgan & Co., as well as for First Chicago Corp.

Mr. McGillicuddy said third@ quarter results at Chemical would be bolstered by strong trading profits and net interest Income, a lower loan-loss provision, and continued cost savings.

He offered the remarks Tuesday night after his election as President of the Greater New York Boy Scout Council. They were confirmed Wednesday by a bank spokesman.

"We're expecting a strong quarter; the question is, how strong," said Raphael Soifer, an analyst at Brown Brothers, Harriman & Co. However, he did not change his earnings outlook for Chemical, which he estimates at $1 per share for the third quarter.

Big 4th-Quarter Deals

Chemical is expected to unveil its quarterly results Oct. 19.

Mr. McGillicuddy told Reuters news service that the bank has some big corporate finance deals pending for the fourth quarter.

The bank is leading QVC Network's financing of its bid to buy Paramount Communications. Should QVC win, the deal would boost fourth-quarter profits, he said.

Mr. McGillicuddy also noted the bank is not currently contemplating acquisitions, saying such moves would be more "realistic" next year.

That likely pleased analysts who have expressed the view that the Chemical should focus this year on getting the combined bank into well-oiled working order.

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