ChoiceOne Financial Services (NASDAQ:COFS) Stock Rating Lowered by Wall Street Zen

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

Several other equities research analysts have also recently weighed in on COFS. Weiss Ratings reiterated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research report on Wednesday, January 21st. Hovde Group cut shares of ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.00.

ChoiceOne Financial Services Stock Performance

NASDAQ COFS opened at $28.69 on Friday. The company has a market capitalization of $431.04 million, a PE ratio of 20.94 and a beta of 0.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.84. ChoiceOne Financial Services has a 52-week low of $24.89 and a 52-week high of $35.40. The company has a 50-day simple moving average of $29.97 and a 200 day simple moving average of $29.56.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its earnings results on Friday, January 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.01. ChoiceOne Financial Services had a return on equity of 11.52% and a net margin of 10.57%.The firm had revenue of $42.94 million for the quarter, compared to analyst estimates of $43.80 million. On average, research analysts predict that ChoiceOne Financial Services will post 3.67 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On ChoiceOne Financial Services

A number of large investors have recently modified their holdings of the stock. Curi Capital LLC boosted its holdings in shares of ChoiceOne Financial Services by 0.7% during the 2nd quarter. Curi Capital LLC now owns 51,537 shares of the company’s stock valued at $1,479,000 after buying an additional 337 shares in the last quarter. CWM LLC lifted its position in ChoiceOne Financial Services by 6.0% during the 2nd quarter. CWM LLC now owns 8,223 shares of the company’s stock valued at $236,000 after acquiring an additional 466 shares during the period. Legal & General Group Plc boosted its stake in ChoiceOne Financial Services by 74.6% during the second quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock worth $37,000 after acquiring an additional 554 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in ChoiceOne Financial Services by 153.2% in the second quarter. Ameritas Investment Partners Inc. now owns 1,461 shares of the company’s stock worth $42,000 after purchasing an additional 884 shares during the period. Finally, Jones Financial Companies Lllp bought a new position in shares of ChoiceOne Financial Services during the third quarter valued at approximately $32,000. Institutional investors own 19.90% of the company’s stock.

About ChoiceOne Financial Services

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.