Vanguard Group Inc. Grows Stock Position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Vanguard Group Inc. lifted its holdings in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 438,579 shares of the company’s stock after buying an additional 36,909 shares during the quarter. Vanguard Group Inc. owned about 4.89% of ChoiceOne Financial Services worth $15,631,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in ChoiceOne Financial Services by 401.9% in the 4th quarter. American Century Companies Inc. now owns 69,842 shares of the company’s stock valued at $2,489,000 after purchasing an additional 55,926 shares during the period. Geode Capital Management LLC boosted its holdings in shares of ChoiceOne Financial Services by 21.2% in the 3rd quarter. Geode Capital Management LLC now owns 187,342 shares of the company’s stock worth $5,792,000 after purchasing an additional 32,725 shares in the last quarter. Barclays PLC boosted its stake in ChoiceOne Financial Services by 173.3% in the third quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $412,000 after buying an additional 8,463 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of ChoiceOne Financial Services by 33.0% during the 4th quarter. Bank of New York Mellon Corp now owns 27,882 shares of the company’s stock valued at $994,000 after purchasing an additional 6,921 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of ChoiceOne Financial Services by 157.1% during the third quarter. JPMorgan Chase & Co. now owns 10,887 shares of the company’s stock valued at $337,000 after buying an additional 6,652 shares during the last quarter. Hedge funds and other institutional investors own 19.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on COFS. Hovde Group initiated coverage on shares of ChoiceOne Financial Services in a research note on Monday, March 10th. They issued an “outperform” rating and a $35.00 target price on the stock. DA Davidson lowered their target price on ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, Janney Montgomery Scott raised shares of ChoiceOne Financial Services from a “neutral” rating to a “buy” rating in a research note on Monday, March 3rd.

ChoiceOne Financial Services Trading Up 1.5 %

NASDAQ:COFS opened at $26.39 on Friday. The company’s 50 day moving average price is $29.30 and its 200-day moving average price is $32.53. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.99. ChoiceOne Financial Services, Inc. has a 52 week low of $22.43 and a 52 week high of $38.15. The stock has a market cap of $236.69 million, a price-to-earnings ratio of 8.10 and a beta of 0.61.

ChoiceOne Financial Services (NASDAQ:COFS) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. On average, equities research analysts forecast that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current fiscal year.

ChoiceOne Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.12 dividend on an annualized basis and a yield of 4.24%. ChoiceOne Financial Services’s dividend payout ratio is presently 34.36%.

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.