ChoiceOne Financial Services (NASDAQ:COFS) Earns Buy Rating from DA Davidson

ChoiceOne Financial Services (NASDAQ:COFS)‘s stock had its “buy” rating reiterated by research analysts at DA Davidson in a report issued on Tuesday, Marketbeat.com reports. They presently have a $36.00 price objective on the stock. DA Davidson’s price objective would indicate a potential upside of 18.23% from the company’s previous close.

A number of other brokerages have also weighed in on COFS. Wall Street Zen lowered shares of ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Hovde Group cut ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, ChoiceOne Financial Services currently has a consensus rating of “Hold” and an average target price of $35.50.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ COFS opened at $30.45 on Tuesday. ChoiceOne Financial Services has a fifty-two week low of $24.89 and a fifty-two week high of $35.40. The company has a market cap of $457.36 million, a PE ratio of 20.30 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.84. The business has a 50-day simple moving average of $29.95 and a two-hundred day simple moving average of $29.59.

ChoiceOne Financial Services (NASDAQ:COFS) last released its earnings results on Friday, January 30th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. ChoiceOne Financial Services had a net margin of 12.38% and a return on equity of 11.81%. The company had revenue of $42.94 million during the quarter, compared to analysts’ expectations of $43.80 million. As a group, equities analysts expect that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Eric E. Burrough purchased 5,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was bought at an average cost 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 of the company’s stock, valued at $4,982,740.50. The trade was a 2.94% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.93% of the company’s stock.

Hedge Funds Weigh In On ChoiceOne Financial Services

Institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in shares of ChoiceOne Financial Services in the 3rd quarter valued at $32,000. Legal & General Group Plc increased its holdings in ChoiceOne Financial Services by 74.6% in the second quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock valued at $37,000 after buying an additional 554 shares in the last quarter. Ameritas Investment Partners Inc. raised its position 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 acquiring an additional 884 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of ChoiceOne Financial Services during the 3rd quarter worth about $46,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of ChoiceOne Financial Services by 617.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company’s stock worth $65,000 after acquiring an additional 1,945 shares in the last quarter. 19.90% of the stock is owned by hedge funds and other institutional investors.

ChoiceOne Financial Services Company Profile

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.