ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Plans $0.26 Quarterly Dividend

ChoiceOne Financial Services, Inc. (NASDAQ:COFS – Get Rating) declared a quarterly dividend on Wednesday, May 24th, Zacks reports. Investors of record on Thursday, June 15th will be paid a dividend of 0.26 per share on Friday, June 30th. This represents a $1.04 annualized dividend and a yield of 5.03%. The ex-dividend date is Wednesday, June 14th.

ChoiceOne Financial Services has increased its dividend payment by an average of 8.1% annually over the last three years and has increased its dividend every year for the last 11 years.

ChoiceOne Financial Services Stock Performance

NASDAQ COFS opened at $20.67 on Friday. ChoiceOne Financial Services has a fifty-two week low of $19.20 and a fifty-two week high of $29.99. The stock has a market cap of $155.44 million, a price-to-earnings ratio of 6.54 and a beta of 0.34. The business has a fifty day moving average of $23.91 and a 200-day moving average of $25.58. The company has a quick ratio of 0.59, a current ratio of 0.60 and a debt-to-equity ratio of 0.71.

ChoiceOne Financial Services (NASDAQ:COFS – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The company reported $0.75 earnings per share for the quarter. ChoiceOne Financial Services had a return on equity of 14.38% and a net margin of 25.57%. The company had revenue of $20.68 million during the quarter.

Hedge Funds Weigh In On ChoiceOne Financial Services

Institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. raised its holdings in shares of ChoiceOne Financial Services by 468.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,251 shares of the company’s stock worth $36,000 after acquiring an additional 1,031 shares during the last quarter. Bank of America Corp DE increased its stake in ChoiceOne Financial Services by 474.1% in the first quarter. Bank of America Corp DE now owns 1,952 shares of the company’s stock valued at $49,000 after purchasing an additional 1,612 shares during the last quarter. Citigroup Inc. acquired a new position in ChoiceOne Financial Services in the fourth quarter valued at $83,000. JPMorgan Chase & Co. increased its stake in ChoiceOne Financial Services by 42,483.3% in the first quarter. JPMorgan Chase & Co. now owns 5,110 shares of the company’s stock valued at $129,000 after purchasing an additional 5,098 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in ChoiceOne Financial Services in the fourth quarter valued at $212,000. 11.29% of the stock is owned by institutional investors and hedge funds.

About ChoiceOne Financial Services

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ChoiceOne Financial Services, Inc is a holding company, which engages in the provision of a variety of deposit, payment, credit, and other financial services to all types of customers, through its subsidiary, ChoiceOne Bank. The firm offers time, savings, and demand deposits, safe deposit services, and automated transaction machine services.