ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its stake in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 27.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,891 shares of the company’s stock after purchasing an additional 1,065 shares during the period. Wells Fargo & Company MN owned approximately 0.05% of ChoiceOne Financial Services worth $174,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of COFS. Globeflex Capital L P acquired a new position in shares of ChoiceOne Financial Services during the 4th quarter worth $107,000. SG Americas Securities LLC acquired a new position in shares of ChoiceOne Financial Services in the fourth quarter valued at approximately $123,000. Trexquant Investment LP purchased a new stake in ChoiceOne Financial Services in the 4th quarter worth approximately $268,000. Rhumbline Advisers boosted its holdings in shares of ChoiceOne Financial Services by 8.1% during the fourth quarter. Rhumbline Advisers now owns 8,165 shares of the company’s stock worth $291,000 after purchasing an additional 611 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in ChoiceOne Financial Services by 157.1% in the third quarter. JPMorgan Chase & Co. now owns 10,887 shares of the company’s stock valued at $337,000 after purchasing an additional 6,652 shares during the last quarter. Institutional investors and hedge funds own 19.90% of the company’s stock.

ChoiceOne Financial Services Trading Down 0.3 %

Shares of NASDAQ COFS opened at $28.99 on Friday. The stock has a market capitalization of $260.01 million, a P/E ratio of 8.89 and a beta of 0.56. The stock’s 50 day moving average price is $27.95 and its two-hundred day moving average price is $32.27. 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 $23.71 and a 52-week high of $38.15.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. ChoiceOne Financial Services had a net margin of 19.21% and a return on equity of 12.44%. The business had revenue of $31.23 million during the quarter, compared to analyst estimates of $29.70 million. On average, analysts anticipate that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current fiscal year.

ChoiceOne Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued 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 dividend yield of 3.86%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 91.06%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COFS. Hovde Group initiated coverage on shares of ChoiceOne Financial Services in a research report on Monday, March 10th. They set an “outperform” rating and a $35.00 price target for the company. DA Davidson reduced their target price on shares of ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, January 27th. 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 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.