State Street Corp Grows Position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

State Street Corp raised its position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,095 shares of the company’s stock after buying an additional 6,209 shares during the period. State Street Corp owned 1.08% of ChoiceOne Financial Services worth $3,001,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mattson Financial Services LLC purchased a new position in ChoiceOne Financial Services in the second quarter worth $47,000. Renaissance Technologies LLC boosted its holdings in shares of ChoiceOne Financial Services by 7.3% in the 2nd quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock worth $544,000 after buying an additional 1,300 shares during the last quarter. Bank of New York Mellon Corp grew its position in ChoiceOne Financial Services by 7.0% during the second quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock valued at $622,000 after buying an additional 1,425 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in ChoiceOne Financial Services by 21.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,443 shares of the company’s stock worth $694,000 after buying an additional 3,986 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of ChoiceOne Financial Services by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock valued at $836,000 after acquiring an additional 1,340 shares during the period. Hedge funds and other institutional investors own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson began coverage on ChoiceOne Financial Services in a report on Friday, October 18th. They set a “buy” rating and a $37.00 price objective for the company.

ChoiceOne Financial Services Stock Up 0.0 %

COFS stock opened at $35.64 on Wednesday. The stock has a fifty day moving average of $35.51 and a 200-day moving average of $31.13. ChoiceOne Financial Services, Inc. has a fifty-two week low of $21.52 and a fifty-two week high of $38.15. The company has a market capitalization of $319.26 million, a price-to-earnings ratio of 11.24 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74.

ChoiceOne Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.28 per share. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, December 13th. ChoiceOne Financial Services’s dividend payout ratio is presently 35.33%.

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.