LPL Financial LLC Increases Position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

LPL Financial LLC boosted its holdings in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,156 shares of the company’s stock after purchasing an additional 1,077 shares during the period. LPL Financial LLC owned about 0.22% of ChoiceOne Financial Services worth $718,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of COFS. Geode Capital Management LLC boosted its stake in shares of ChoiceOne Financial Services by 21.2% during the 3rd quarter. Geode Capital Management LLC now owns 187,342 shares of the company’s stock valued at $5,792,000 after buying an additional 32,725 shares during the last quarter. State Street Corp boosted its stake in ChoiceOne Financial Services by 6.8% during the 3rd quarter. State Street Corp now owns 97,095 shares of the company’s stock valued at $3,001,000 after acquiring an additional 6,209 shares during the last quarter. American Century Companies Inc. grew its holdings in ChoiceOne Financial Services by 401.9% during the 4th quarter. American Century Companies Inc. now owns 69,842 shares of the company’s stock worth $2,489,000 after acquiring an additional 55,926 shares in the last quarter. Empowered Funds LLC increased its position in shares of ChoiceOne Financial Services by 4.9% in the 4th quarter. Empowered Funds LLC now owns 28,389 shares of the company’s stock worth $1,012,000 after purchasing an additional 1,329 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of ChoiceOne Financial Services by 33.0% in 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 in the last quarter. Institutional investors and hedge funds own 19.90% of the company’s stock.

Analyst Ratings Changes

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

ChoiceOne Financial Services Price Performance

Shares of NASDAQ:COFS opened at $27.03 on Wednesday. The company has a market cap of $242.43 million, a PE ratio of 8.29 and a beta of 0.61. ChoiceOne Financial Services, Inc. has a fifty-two week low of $23.12 and a fifty-two week high of $38.15. The firm has a 50-day simple moving average of $28.92 and a 200 day simple moving average of $32.48. 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 (NASDAQ:COFS) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that ChoiceOne Financial Services, Inc. will post 3.67 EPS for the current 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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend was Friday, March 14th. ChoiceOne Financial Services’s payout ratio is 34.36%.

ChoiceOne Financial Services 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.