ChoiceOne Financial Services (NASDAQ:COFS) Upgraded at Wall Street Zen

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

Several other equities analysts have also commented on the company. DA Davidson reiterated a “buy” rating and set a $36.00 price objective on shares of ChoiceOne Financial Services in a research report on Tuesday, February 3rd. Weiss Ratings restated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research report on Wednesday, January 21st. Finally, Hovde Group lowered ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ChoiceOne Financial Services has a consensus rating of “Hold” and a consensus target price of $36.00.

ChoiceOne Financial Services Stock Performance

NASDAQ COFS opened at $27.25 on Friday. ChoiceOne Financial Services has a 52-week low of $24.89 and a 52-week high of $35.40. The company has a fifty day moving average of $28.92 and a 200-day moving average of $29.46. The company has a market capitalization of $409.30 million, a P/E ratio of 18.17 and a beta of 0.58. 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 (NASDAQ:COFS) last released its earnings results on Friday, January 30th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. ChoiceOne Financial Services had a return on equity of 11.81% and a net margin of 12.38%.The business had revenue of $42.94 million for the quarter, compared to analysts’ expectations of $43.80 million. As a group, equities research analysts predict that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

Insider Activity

In other news, Director Eric E. Burrough acquired 5,000 shares of the stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $27.50 per share, with a total value of $137,500.00. Following the completion of the purchase, the director owned 180,397 shares in the company, valued at approximately $4,960,917.50. The trade was a 2.85% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bradley F. Mcginnis bought 1,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were purchased at an average price of $29.15 per share, with a total value of $29,150.00. Following the completion of the acquisition, the director owned 15,301 shares of the company’s stock, valued at $446,024.15. This trade represents a 6.99% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 8,850 shares of company stock valued at $248,144. 5.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Curi Capital LLC raised its position in 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 purchasing an additional 337 shares during the last quarter. Legal & General Group Plc grew its position in shares of ChoiceOne Financial Services by 74.6% in the 2nd quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock worth $37,000 after buying an additional 554 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of ChoiceOne Financial Services by 153.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,461 shares of the company’s stock worth $42,000 after buying an additional 884 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of ChoiceOne Financial Services by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,578 shares of the company’s stock valued at $254,000 after buying an additional 1,041 shares during the period. Finally, Jones Financial Companies Lllp purchased a new position in shares of ChoiceOne Financial Services during the third quarter valued at approximately $32,000. Hedge funds and other 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.