ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Receives Consensus Rating of “Hold” from Brokerages

Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) have received an average rating of “Hold” from the four brokerages that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $35.50.

A number of equities research analysts have weighed in on COFS shares. Hovde Group lowered ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. DA Davidson reaffirmed a “buy” rating and issued a $36.00 target price on shares of ChoiceOne Financial Services in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st.

Insider Transactions at ChoiceOne Financial Services

In related news, Director Bradley F. Mcginnis purchased 1,000 shares of ChoiceOne Financial Services stock in a transaction dated Tuesday, March 3rd. The shares were acquired at an average price of $29.15 per share, with a total value of $29,150.00. Following the completion of the transaction, the director owned 15,301 shares of the company’s stock, valued at approximately $446,024.15. This trade represents a 6.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian P. Petty sold 15,000 shares of ChoiceOne Financial Services stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $29.56, for a total value of $443,400.00. Following the completion of the transaction, the director owned 91,107 shares of the company’s stock, valued at $2,693,122.92. This trade represents a 14.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders purchased 2,800 shares of company stock valued at $81,307. Insiders own 5.93% of the company’s stock.

Institutional Investors Weigh In On ChoiceOne Financial Services

A number of institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in ChoiceOne Financial Services in the third quarter worth $32,000. Legal & General Group Plc boosted its holdings in shares of ChoiceOne Financial Services by 74.6% in 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 holdings in shares of 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 period. Aquatic Capital Management LLC bought a new stake in shares of ChoiceOne Financial Services during the 3rd quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC grew its position in shares of ChoiceOne Financial Services by 617.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company’s stock valued at $65,000 after buying an additional 1,945 shares during the last quarter. 19.90% of the stock is currently owned by institutional investors.

ChoiceOne Financial Services Stock Performance

NASDAQ:COFS opened at $28.28 on Monday. The firm has a 50-day moving average of $29.09 and a two-hundred day moving average of $29.55. 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 cap of $424.88 million, a P/E ratio of 18.85 and a beta of 0.58. ChoiceOne Financial Services has a 1-year low of $24.89 and a 1-year high of $35.40.

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

ChoiceOne Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, March 13th. ChoiceOne Financial Services’s dividend payout ratio is 77.33%.

ChoiceOne Financial Services Company Profile

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.