ChoiceOne Financial Services (NASDAQ:COFS) Stock Price Up 0.5% – Should You Buy?

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was up 0.5% during trading on Friday . The company traded as high as $33.00 and last traded at $32.57. Approximately 82,281 shares traded hands during trading, an increase of 4% from the average daily volume of 79,128 shares. The stock had previously closed at $32.42.

Analysts Set New Price Targets

A number of research analysts have commented on COFS shares. Weiss Ratings upgraded shares of ChoiceOne Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Wall Street Zen downgraded shares of ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, DA Davidson increased their price objective on shares of ChoiceOne Financial Services from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, ChoiceOne Financial Services has an average rating of “Moderate Buy” and a consensus target price of $34.00.

ChoiceOne Financial Services Stock Up 0.5%

The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $487.90 million, a P/E ratio of 8.80 and a beta of 0.60. The stock’s 50 day simple moving average is $30.77 and its 200 day simple moving average is $29.85.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its quarterly earnings data on Friday, April 24th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. ChoiceOne Financial Services had a net margin of 23.07% and a return on equity of 12.31%. The firm had revenue of $42.46 million for the quarter, compared to the consensus estimate of $42.70 million. As a group, research analysts predict that ChoiceOne Financial Services, Inc. will post 3.61 EPS for the current fiscal year.

ChoiceOne Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, June 15th. ChoiceOne Financial Services’s dividend payout ratio is currently 31.35%.

Institutional Investors Weigh In On ChoiceOne Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in ChoiceOne Financial Services by 1.0% during the third quarter. Vanguard Group Inc. now owns 806,507 shares of the company’s stock worth $23,356,000 after acquiring an additional 8,209 shares during the period. State Street Corp raised its stake in ChoiceOne Financial Services by 12.0% during the fourth quarter. State Street Corp now owns 314,213 shares of the company’s stock worth $9,276,000 after acquiring an additional 33,739 shares during the period. Dimensional Fund Advisors LP raised its stake in ChoiceOne Financial Services by 18.5% during the first quarter. Dimensional Fund Advisors LP now owns 240,425 shares of the company’s stock worth $6,760,000 after acquiring an additional 37,514 shares during the period. The Manufacturers Life Insurance Company raised its stake in ChoiceOne Financial Services by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 226,161 shares of the company’s stock worth $6,491,000 after acquiring an additional 2,509 shares during the period. Finally, Jacobs Asset Management LLC raised its stake in ChoiceOne Financial Services by 19.7% during the first quarter. Jacobs Asset Management LLC now owns 196,227 shares of the company’s stock worth $5,518,000 after acquiring an additional 32,330 shares during the period. Institutional investors and hedge funds own 19.90% of the company’s stock.

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.