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

Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFSGet Free Report) have been given an average rating of “Hold” by the five brokerages that are currently covering the firm, Marketbeat.com 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 target among brokers that have issued ratings on the stock in the last year is $35.50.

Several research firms have recently commented on COFS. Hovde Group downgraded ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, DA Davidson reaffirmed a “buy” rating and issued a $36.00 target price on shares of ChoiceOne Financial Services in a report on Tuesday.

Check Out Our Latest Research Report on ChoiceOne Financial Services

Insider Activity

In other ChoiceOne Financial Services news, Director Eric E. Burrough bought 5,000 shares of ChoiceOne Financial Services stock in a transaction dated Monday, November 17th. The stock was bought at an average cost of $28.50 per share, for a total transaction of $142,500.00. Following the purchase, the director owned 174,833 shares of the company’s stock, valued at $4,982,740.50. The trade was a 2.94% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ChoiceOne Financial Services

Several hedge funds have recently added to or reduced their stakes in COFS. Jones Financial Companies Lllp acquired a new position in shares of ChoiceOne Financial Services in the third quarter valued at $32,000. Legal & General Group Plc boosted its holdings in shares of ChoiceOne Financial Services by 74.6% during 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 period. Ameritas Investment Partners Inc. grew its stake in ChoiceOne Financial Services by 153.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,461 shares of the company’s stock valued at $42,000 after buying an additional 884 shares during the last quarter. Aquatic Capital Management LLC bought a new position in ChoiceOne Financial Services in the 3rd quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC lifted its position in ChoiceOne Financial Services by 617.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company’s stock worth $65,000 after acquiring an additional 1,945 shares during the last quarter. Institutional investors and hedge funds own 19.90% of the company’s stock.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ COFS opened at $30.45 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.84 and a quick ratio of 0.83. The business has a 50-day moving average of $29.95 and a 200-day moving average of $29.59. The stock has a market capitalization of $457.36 million, a price-to-earnings ratio of 20.30 and a beta of 0.58. ChoiceOne Financial Services has a fifty-two week low of $24.89 and a fifty-two week high of $35.40.

ChoiceOne Financial Services (NASDAQ:COFSGet Free Report) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.91 by $0.01. The firm had revenue of $42.94 million during the quarter, compared to analysts’ expectations of $43.80 million. ChoiceOne Financial Services had a return on equity of 11.81% and a net margin of 12.38%. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a $0.29 dividend. This is a positive change from ChoiceOne Financial Services’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, December 15th. ChoiceOne Financial Services’s dividend payout ratio is currently 77.33%.

About ChoiceOne Financial Services

(Get Free Report)

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.

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Analyst Recommendations for ChoiceOne Financial Services (NASDAQ:COFS)

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