ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Given Consensus Rating of “Hold” by Analysts

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) has received a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $37.00.

Several equities analysts have recently issued reports on the company. Wall Street Zen raised ChoiceOne Financial Services from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Hovde Group downgraded shares of ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ChoiceOne Financial Services in a report on Wednesday, October 8th.

Insider Buying and Selling at ChoiceOne Financial Services

In other ChoiceOne Financial Services news, Director Eric E. Burrough purchased 5,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was purchased at an average price of $28.50 per share, for a total transaction of $142,500.00. Following the completion of the purchase, the director directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ChoiceOne Financial Services

Several large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new position in ChoiceOne Financial Services during the 1st quarter valued at about $195,000. Empowered Funds LLC grew its stake in shares of ChoiceOne Financial Services by 8.1% in the first quarter. Empowered Funds LLC now owns 30,701 shares of the company’s stock worth $883,000 after acquiring an additional 2,312 shares during the period. Jane Street Group LLC purchased a new position in shares of ChoiceOne Financial Services during the first quarter valued at approximately $477,000. CWM LLC lifted its position in ChoiceOne Financial Services by 6.0% during the second quarter. CWM LLC now owns 8,223 shares of the company’s stock valued at $236,000 after purchasing an additional 466 shares during the period. Finally, ProShare Advisors LLC bought a new position in ChoiceOne Financial Services during the second quarter valued at approximately $5,973,000. 19.90% of the stock is currently owned by institutional investors.

ChoiceOne Financial Services Stock Down 1.9%

Shares of NASDAQ:COFS opened at $28.12 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.55. The stock has a market cap of $422.36 million, a price-to-earnings ratio of 20.53 and a beta of 0.61. The business’s 50 day moving average is $30.14 and its 200 day moving average is $29.67. ChoiceOne Financial Services has a 12-month low of $24.89 and a 12-month high of $35.40.

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

ChoiceOne Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $0.29 per share. The ex-dividend date was Monday, December 15th. This represents a $1.16 annualized dividend and a yield of 4.1%. This is a positive change from ChoiceOne Financial Services’s previous quarterly dividend of $0.28. ChoiceOne Financial Services’s dividend payout ratio (DPR) is 84.67%.

ChoiceOne Financial Services Company Profile

ChoiceOne Financial Services, Inc is a bank holding company headquartered in Jackson, Michigan. Through its subsidiary, ChoiceOne Bank, it provides a full suite of banking and financial services to individuals, families, and businesses. The company’s primary operations are concentrated in community banking, spanning retail deposits, commercial and consumer lending, mortgage origination, and treasury management solutions.

ChoiceOne Bank offers checking and savings accounts, certificates of deposit, and online and mobile banking platforms designed to meet the needs of its customers.