ChoiceOne Financial Services, Inc. (NASDAQ:COFS – Get Free Report) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 113,300 shares, a drop of 7.3% from the March 15th total of 122,200 shares. Based on an average trading volume of 13,500 shares, the days-to-cover ratio is presently 8.4 days. Currently, 1.7% of the shares of the stock are sold short.
ChoiceOne Financial Services Price Performance
ChoiceOne Financial Services stock opened at $22.71 on Tuesday. ChoiceOne Financial Services has a 1 year low of $15.84 and a 1 year high of $32.14. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.67 and a current ratio of 0.68. The company’s fifty day moving average price is $25.97 and its 200 day moving average price is $25.13. The stock has a market capitalization of $171.69 million, a P/E ratio of 8.05 and a beta of 0.65.
ChoiceOne Financial Services (NASDAQ:COFS – Get Free Report) last announced its earnings results on Wednesday, January 24th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. ChoiceOne Financial Services had a net margin of 18.67% and a return on equity of 11.73%. The company had revenue of $20.60 million for the quarter, compared to analysts’ expectations of $20.10 million. As a group, equities research analysts anticipate that ChoiceOne Financial Services will post 2.9 earnings per share for the current fiscal year.
ChoiceOne Financial Services Dividend Announcement
Institutional Investors Weigh In On ChoiceOne Financial Services
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. boosted its stake in ChoiceOne Financial Services by 468.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,251 shares of the company’s stock worth $36,000 after purchasing an additional 1,031 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of 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 period. California State Teachers Retirement System purchased a new stake in shares of ChoiceOne Financial Services in the second quarter valued at about $53,000. Wells Fargo & Company MN grew its holdings in shares of ChoiceOne Financial Services by 5,443.8% in the second quarter. Wells Fargo & Company MN now owns 2,661 shares of the company’s stock valued at $61,000 after purchasing an additional 2,613 shares during the period. Finally, Citigroup Inc. purchased a new stake in shares of ChoiceOne Financial Services in the fourth quarter valued at about $83,000. Institutional investors and hedge funds own 19.90% of the company’s stock.
ChoiceOne Financial Services Company Profile
ChoiceOne Financial Services, Inc operates as the bank holding company for ChoiceOne Bank that provides banking services to corporations, partnerships, and individuals in Michigan. The company offers various deposit products, including time, savings, and demand deposits, safe deposit, and automated transaction machine services.
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