ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 188,103 shares of the company’s stock after buying an additional 761 shares during the quarter. Geode Capital Management LLC owned approximately 2.10% of ChoiceOne Financial Services worth $6,706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of COFS. Vanguard Group Inc. boosted its stake in ChoiceOne Financial Services by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 438,579 shares of the company’s stock valued at $15,631,000 after purchasing an additional 36,909 shares during the period. State Street Corp grew its holdings in ChoiceOne Financial Services by 6.8% in the 3rd quarter. State Street Corp now owns 97,095 shares of the company’s stock worth $3,001,000 after buying an additional 6,209 shares in the last quarter. American Century Companies Inc. increased its position 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 acquiring an additional 55,926 shares during the period. Segall Bryant & Hamill LLC raised its stake in ChoiceOne Financial Services by 73.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 61,219 shares of the company’s stock valued at $2,182,000 after acquiring an additional 25,846 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in ChoiceOne Financial Services by 172.8% during the 4th quarter. JPMorgan Chase & Co. now owns 29,698 shares of the company’s stock worth $1,058,000 after acquiring an additional 18,811 shares during the period. Institutional investors and hedge funds own 19.90% of the company’s stock.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ COFS opened at $27.55 on Friday. The firm has a 50-day moving average of $28.72 and a two-hundred day moving average of $32.44. The company has a market capitalization of $247.10 million, a price-to-earnings ratio of 8.45 and a beta of 0.61. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.99. ChoiceOne Financial Services, Inc. has a twelve month low of $23.12 and a twelve month high of $38.15.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its 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 net margin of 19.21% and a return on equity of 12.44%. As a group, analysts expect that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current fiscal year.

ChoiceOne Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Friday, March 14th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 34.36%.

Wall Street Analyst Weigh In

COFS has been the subject of several research analyst reports. Janney Montgomery Scott raised shares of ChoiceOne Financial Services from a “neutral” rating to a “buy” rating in a report on Monday, March 3rd. DA Davidson decreased their price objective on shares of ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Hovde Group assumed coverage on ChoiceOne Financial Services in a report on Monday, March 10th. They set an “outperform” rating and a $35.00 target price on the stock.

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.