Analysts Set ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Price Target at $37.00

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) has been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $37.00.

Several research firms recently commented on COFS. Wall Street Zen downgraded shares of ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Zacks Research raised ChoiceOne Financial Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research report on Wednesday, October 8th.

Insider Buying and Selling at ChoiceOne Financial Services

In related news, Director Eric E. Burrough acquired 5,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was bought at an average cost of $28.50 per share, with a total value of $142,500.00. Following the acquisition, the director owned 174,833 shares of the company’s stock, valued at approximately $4,982,740.50. The trade was a 2.94% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.93% of the company’s stock.

Institutional Investors Weigh In On ChoiceOne Financial Services

A number of large investors have recently added to or reduced their stakes in COFS. Jones Financial Companies Lllp purchased a new position in shares of ChoiceOne Financial Services in the 3rd quarter worth about $32,000. Legal & General Group Plc boosted its stake in ChoiceOne Financial Services by 74.6% in the second quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock worth $37,000 after buying an additional 554 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in ChoiceOne Financial Services by 153.2% during the second quarter. Ameritas Investment Partners Inc. now owns 1,461 shares of the company’s stock valued at $42,000 after acquiring an additional 884 shares during the last quarter. Aquatic Capital Management LLC bought a new position in ChoiceOne Financial Services during the third quarter valued at approximately $46,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 19.90% of the company’s stock.

ChoiceOne Financial Services Stock Performance

Shares of COFS opened at $30.48 on Friday. ChoiceOne Financial Services has a 12 month low of $24.89 and a 12 month high of $38.15. The stock has a 50 day moving average of $28.90 and a 200 day moving average of $29.40. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $457.73 million, a price-to-earnings ratio of 22.24 and a beta of 0.59.

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

About ChoiceOne Financial Services

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.