ChoiceOne Financial Services (NASDAQ:COFS) Rating Lowered to “Hold” at Wall Street Zen

ChoiceOne Financial Services (NASDAQ:COFS) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities analysts have also issued reports on the company. Zacks Research upgraded ChoiceOne Financial Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ChoiceOne Financial Services in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

ChoiceOne Financial Services Price Performance

COFS stock opened at $31.90 on Friday. The company’s 50-day moving average price is $29.37 and its two-hundred day moving average price is $29.50. The firm has a market cap of $479.14 million, a P/E ratio of 23.28 and a beta of 0.61. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.55. ChoiceOne Financial Services has a 12 month low of $24.89 and a 12 month high of $36.99.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.60 earnings per share (EPS) for the quarter. ChoiceOne Financial Services had a net margin of 10.57% and a return on equity of 11.52%. The business had revenue of $20.17 million for the quarter. On average, analysts anticipate that ChoiceOne Financial Services will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at ChoiceOne Financial Services

In other news, Director Eric E. Burrough bought 5,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was purchased at an average cost of $28.50 per share, for a total transaction of $142,500.00. Following the completion of the transaction, the director owned 174,833 shares of the company’s stock, valued at $4,982,740.50. This trade represents a 2.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 5.93% of the stock is currently owned by insiders.

Institutional Trading of ChoiceOne Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC bought a new position in shares of ChoiceOne Financial Services during the second quarter valued at $5,973,000. Geode Capital Management LLC grew its stake in shares of ChoiceOne Financial Services by 70.4% in the second quarter. Geode Capital Management LLC now owns 324,220 shares of the company’s stock worth $9,307,000 after purchasing an additional 133,999 shares during the last quarter. Jacobs Asset Management LLC increased its holdings in ChoiceOne Financial Services by 149.9% in the first quarter. Jacobs Asset Management LLC now owns 156,159 shares of the company’s stock valued at $4,493,000 after purchasing an additional 93,659 shares during the period. Two Sigma Investments LP raised its position in ChoiceOne Financial Services by 204.2% during the 3rd quarter. Two Sigma Investments LP now owns 97,963 shares of the company’s stock worth $2,837,000 after purchasing an additional 65,764 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in ChoiceOne Financial Services by 427.1% during the 3rd quarter. First Trust Advisors LP now owns 50,990 shares of the company’s stock worth $1,477,000 after buying an additional 41,317 shares during the period. 19.90% of the stock is currently owned by institutional investors.

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.