ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Receives Consensus Rating of “Hold” from Brokerages

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) has been given a consensus rating of “Hold” by the five analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $37.00.

A number of equities analysts recently issued reports on COFS shares. Hovde Group downgraded shares of ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of ChoiceOne Financial Services from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st.

ChoiceOne Financial Services Stock Performance

COFS stock opened at $28.12 on Friday. The company has a market cap of $422.36 million, a P/E ratio of 20.53 and a beta of 0.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.84 and a quick ratio of 0.83. ChoiceOne Financial Services has a 1 year low of $24.89 and a 1 year high of $35.40. The stock’s fifty day moving average price is $30.14 and its 200-day moving average price is $29.67.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its earnings results on Tuesday, November 8th. The company reported $0.60 earnings per share for the quarter. The company had revenue of $20.17 million for the quarter. ChoiceOne Financial Services had a return on equity of 11.52% and a net margin of 10.57%. On average, equities analysts forecast that ChoiceOne Financial Services will post 3.67 earnings per share for the current year.

ChoiceOne Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $0.29 per share. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, December 15th. ChoiceOne Financial Services’s dividend payout ratio is presently 84.67%.

Insider Activity at ChoiceOne Financial Services

In related news, Director Eric E. Burrough acquired 5,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $28.50 per share, with a total value of $142,500.00. Following the completion of the purchase, the director directly owned 174,833 shares of the company’s stock, valued at $4,982,740.50. This represents a 2.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On ChoiceOne Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Curi Capital LLC increased its holdings in ChoiceOne Financial Services by 0.7% in the 2nd quarter. Curi Capital LLC now owns 51,537 shares of the company’s stock worth $1,479,000 after acquiring an additional 337 shares in the last quarter. CWM LLC boosted its position in shares of ChoiceOne Financial Services by 6.0% in the second quarter. CWM LLC now owns 8,223 shares of the company’s stock worth $236,000 after purchasing an additional 466 shares during the period. Legal & General Group Plc increased its stake in shares of ChoiceOne Financial Services by 74.6% in the second quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock worth $37,000 after purchasing an additional 554 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of ChoiceOne Financial Services by 153.2% in the second quarter. Ameritas Investment Partners Inc. now owns 1,461 shares of the company’s stock worth $42,000 after purchasing an additional 884 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of ChoiceOne Financial Services during the 3rd quarter valued at $32,000. 19.90% of the stock is owned by hedge funds and other institutional investors.

About ChoiceOne Financial Services

ChoiceOne Financial Services, Inc is a bank holding company headquartered in Jackson, Michigan. Through its subsidiary, ChoiceOne Bank, it provides a full suite of banking and financial services to individuals, families, and businesses. The company’s primary operations are concentrated in community banking, spanning retail deposits, commercial and consumer lending, mortgage origination, and treasury management solutions.

ChoiceOne Bank offers checking and savings accounts, certificates of deposit, and online and mobile banking platforms designed to meet the needs of its customers.