ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Receives Average Rating of “Moderate Buy” from Analysts

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) has received a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $37.00.

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of ChoiceOne Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Weiss Ratings restated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of ChoiceOne Financial Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ:COFS opened at $28.89 on Tuesday. The stock has a fifty day moving average of $29.26 and a 200-day moving average of $29.23. The company has a market capitalization of $433.78 million, a PE ratio of 21.09 and a beta of 0.55. ChoiceOne Financial Services has a one year low of $24.89 and a one year high of $38.15. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 0.85.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its earnings results on Tuesday, November 8th. The company reported $0.60 EPS for the quarter. The firm had revenue of $20.17 million for the quarter. ChoiceOne Financial Services had a net margin of 10.57% and a return on equity of 12.11%. As a group, equities analysts anticipate that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

ChoiceOne Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.12 annualized dividend and a dividend yield of 3.9%. ChoiceOne Financial Services’s payout ratio is 81.75%.

Institutional Investors Weigh In On ChoiceOne Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC bought a new stake in ChoiceOne Financial Services during the 3rd quarter worth about $133,000. Osaic Holdings Inc. lifted its position in ChoiceOne Financial Services by 227.7% during the 2nd quarter. Osaic Holdings Inc. now owns 11,513 shares of the company’s stock worth $330,000 after buying an additional 8,000 shares in the last quarter. Squarepoint Ops LLC lifted its position in ChoiceOne Financial Services by 128.1% during the 2nd quarter. Squarepoint Ops LLC now owns 34,301 shares of the company’s stock worth $984,000 after buying an additional 19,263 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of ChoiceOne Financial Services by 617.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company’s stock valued at $65,000 after purchasing an additional 1,945 shares during the period. Finally, Curi Capital LLC raised its holdings in shares of ChoiceOne Financial Services by 0.7% in 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 period. 19.90% of the stock is owned by institutional investors.

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.