ChoiceOne Financial Services, Inc. (COFS) To Go Ex-Dividend on December 15th

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) announced a quarterly dividend on Wednesday, December 3rd. Shareholders of record on Monday, December 15th will be given a dividend of 0.29 per share on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, December 15th. This is a 3.6% increase from ChoiceOne Financial Services’s previous quarterly dividend of $0.28.

ChoiceOne Financial Services has a payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ChoiceOne Financial Services to earn $3.85 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 29.1%.

ChoiceOne Financial Services Trading Down 0.2%

ChoiceOne Financial Services stock opened at $31.63 on Friday. ChoiceOne Financial Services has a 12-month low of $24.89 and a 12-month high of $38.15. 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 stock has a market capitalization of $475.08 million, a PE ratio of 23.09 and a beta of 0.61. The firm has a 50 day simple moving average of $29.02 and a 200-day simple moving average of $29.43.

ChoiceOne Financial Services (NASDAQ:COFS) last released its earnings results on Tuesday, November 8th. The company reported $0.60 earnings per share for the quarter. The firm 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, equities research analysts expect that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

Insider Activity

In related news, Director Eric E. Burrough bought 5,000 shares of ChoiceOne Financial Services stock in a transaction dated Monday, November 17th. The stock was acquired at an average cost of $28.50 per share, with a total value of $142,500.00. Following the completion of the acquisition, the director directly owned 174,833 shares in the company, valued at approximately $4,982,740.50. This trade represents a 2.94% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.93% of the stock is owned by company insiders.

Institutional Trading of ChoiceOne Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new position in ChoiceOne Financial Services during the third quarter valued at approximately $32,000. Legal & General Group Plc boosted its stake 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 valued at $37,000 after buying an additional 554 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of ChoiceOne Financial Services by 153.2% during 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 period. Aquatic Capital Management LLC purchased a new position in shares of ChoiceOne Financial Services during the 3rd quarter valued at $46,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of ChoiceOne Financial Services by 617.5% in 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 Company Profile

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.