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

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Director Brian Petty sold 15,000 shares of the stock in a transaction on 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 directly owned 91,107 shares in the company, valued at $2,693,122.92. This trade represents a 14.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

ChoiceOne Financial Services Trading Down 0.4%

COFS stock traded down $0.10 during trading on Thursday, reaching $29.39. 28,231 shares of the stock traded hands, compared to its average volume of 77,997. The firm has a market capitalization of $441.50 million, a PE ratio of 19.49 and a beta of 0.58. 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 business’s 50 day moving average price is $29.86 and its 200-day moving average price is $29.60. ChoiceOne Financial Services, Inc. has a 52-week low of $24.89 and a 52-week high of $35.40.

ChoiceOne Financial Services (NASDAQ:COFS) last released its quarterly earnings data on Friday, January 30th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate 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. As a group, sell-side analysts forecast that ChoiceOne Financial Services, Inc. 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 given a $0.29 dividend. The ex-dividend date of this dividend was Monday, December 15th. This is an increase from ChoiceOne Financial Services’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.9%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is currently 77.33%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. 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. Weiss Ratings reiterated a “hold (c)” rating on shares of ChoiceOne Financial Services in a report on Wednesday, January 21st. Hovde Group cut ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 7th. 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.50.

Institutional Trading of ChoiceOne Financial Services

Institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its holdings in ChoiceOne Financial Services by 11.3% during the 4th 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 grew its stake in ChoiceOne Financial Services by 5.2% in the fourth quarter. Cerity Partners LLC now owns 29,858 shares of the company’s stock worth $881,000 after purchasing an additional 1,481 shares in the last quarter. LPL Financial LLC increased its holdings in ChoiceOne Financial Services by 155.8% in the fourth quarter. LPL Financial LLC now owns 53,319 shares of the company’s stock valued at $1,574,000 after buying an additional 32,472 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in ChoiceOne Financial Services by 87.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 101,686 shares of the company’s stock valued at $3,002,000 after buying an additional 47,382 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in ChoiceOne Financial Services during the 4th quarter worth approximately $185,000. 19.90% of the stock is owned by institutional investors and hedge funds.

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.