ChoiceOne Financial Services (NASDAQ:COFS) Downgraded by Wall Street Zen to “Hold”

ChoiceOne Financial Services (NASDAQ:COFS) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also weighed in on COFS. Weiss Ratings restated a “hold (c)” rating on shares of ChoiceOne Financial Services in a report on Wednesday, January 21st. Hovde Group lowered ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 7th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ:COFS opened at $28.69 on Friday. The business has a fifty day moving average price of $29.97 and a 200-day moving average price of $29.56. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market capitalization of $431.04 million, a PE ratio of 20.94 and a beta of 0.61. ChoiceOne Financial Services has a 1-year low of $24.89 and a 1-year high of $35.40.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.91 by $0.01. The company had revenue of $42.94 million for the quarter, compared to the consensus estimate of $43.80 million. ChoiceOne Financial Services had a net margin of 10.57% and a return on equity of 11.52%. As a group, equities analysts expect that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Eric E. Burrough bought 5,000 shares of the stock in a transaction on Monday, November 17th. The shares were bought at an average price of $28.50 per share, with a total value of $142,500.00. Following the completion of the acquisition, the director owned 174,833 shares in the company, valued at $4,982,740.50. The trade was a 2.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.93% of the company’s stock.

Hedge Funds Weigh In On ChoiceOne Financial Services

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