ChoiceOne Financial Services (NASDAQ:COFS) Director Brian Petty Sells 15,000 Shares

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Director Brian Petty sold 15,000 shares of ChoiceOne Financial Services stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $29.56, for a total transaction of $443,400.00. Following the completion of the transaction, the director directly owned 91,107 shares of the company’s stock, valued at approximately $2,693,122.92. This represents a 14.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ChoiceOne Financial Services Stock Performance

COFS traded down $0.10 on Thursday, hitting $29.39. 28,231 shares of the company’s stock were exchanged, compared to its average volume of 77,997. 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 stock has a fifty day moving average of $29.86 and a two-hundred day moving average of $29.60. ChoiceOne Financial Services, Inc. has a twelve month low of $24.89 and a twelve month high of $35.40. The firm has a market cap of $441.50 million, a PE ratio of 19.49 and a beta of 0.58.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.01. The business had revenue of $42.94 million for the quarter, compared to the consensus estimate of $43.80 million. ChoiceOne Financial Services had a return on equity of 11.81% and a net margin of 12.38%. On average, research analysts anticipate that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current fiscal year.

ChoiceOne Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, December 15th. This is a positive change from ChoiceOne Financial Services’s previous quarterly dividend of $0.28. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 77.33%.

Analyst Upgrades and Downgrades

COFS has been the topic of a number of recent analyst reports. DA Davidson restated a “buy” rating and set a $36.00 price objective on shares of ChoiceOne Financial Services in a research note on Tuesday, February 3rd. 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. Weiss Ratings restated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research report on Wednesday, January 21st. Finally, Hovde Group cut ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG increased its position in shares of ChoiceOne Financial Services by 11.3% in the fourth quarter. Deutsche Bank AG now owns 13,349 shares of the company’s stock worth $394,000 after acquiring an additional 1,351 shares in the last quarter. Cerity Partners LLC boosted its stake in ChoiceOne Financial Services by 5.2% in the 4th quarter. Cerity Partners LLC now owns 29,858 shares of the company’s stock worth $881,000 after purchasing an additional 1,481 shares during the period. LPL Financial LLC grew its position in ChoiceOne Financial Services by 155.8% during the 4th quarter. LPL Financial LLC now owns 53,319 shares of the company’s stock worth $1,574,000 after purchasing an additional 32,472 shares in the last quarter. Goldman Sachs Group Inc. grew its position in ChoiceOne Financial Services by 87.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 101,686 shares of the company’s stock worth $3,002,000 after purchasing an additional 47,382 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in ChoiceOne Financial Services during the 4th quarter valued at $185,000. 19.90% of the stock is currently owned by institutional investors and hedge funds.

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.