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

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) has earned an average recommendation of “Hold” from the five analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $35.50.

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

Insider Activity

In other ChoiceOne Financial Services news, Director Eric E. Burrough bought 5,000 shares of the stock in a transaction that occurred on 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 purchase, the director owned 174,833 shares in the company, valued at $4,982,740.50. This trade represents a 2.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Curi Capital LLC boosted its position in ChoiceOne Financial Services by 0.7% during the 2nd quarter. Curi Capital LLC now owns 51,537 shares of the company’s stock worth $1,479,000 after acquiring an additional 337 shares during the last quarter. CWM LLC lifted its position in shares of ChoiceOne Financial Services by 6.0% in the second quarter. CWM LLC now owns 8,223 shares of the company’s stock worth $236,000 after purchasing an additional 466 shares in the last quarter. Legal & General Group Plc lifted its position in shares of 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 purchasing an additional 554 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings 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 worth $42,000 after purchasing an additional 884 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new position in ChoiceOne Financial Services in the third quarter valued at $32,000. Institutional investors and hedge funds own 19.90% of the company’s stock.

ChoiceOne Financial Services Price Performance

Shares of COFS opened at $30.45 on Thursday. The stock has a market cap of $457.36 million, a P/E ratio of 20.30 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. The stock’s 50-day moving average price is $29.95 and its two-hundred day moving average price is $29.59. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55.

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

ChoiceOne Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a dividend of $0.29 per share. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, December 15th. This represents a $1.16 annualized dividend and a dividend yield of 3.8%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 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.