ChoiceOne Financial Services (NASDAQ:COFS) Insider Adom Greenland Purchases 500 Shares of Stock

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) insider Adom Greenland bought 500 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were acquired at an average price of $27.40 per share, for a total transaction of $13,700.00. Following the transaction, the insider owned 3,690 shares in the company, valued at approximately $101,106. This represents a 15.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ChoiceOne Financial Services Stock Up 1.1%

Shares of COFS opened at $27.55 on Tuesday. 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, Inc. has a 12 month low of $24.89 and a 12 month high of $35.40. The firm’s 50 day moving average is $28.88 and its 200-day moving average is $29.42. The stock has a market capitalization of $413.80 million, a PE ratio of 18.37 and a beta of 0.58.

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

ChoiceOne Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, March 13th. ChoiceOne Financial Services’s dividend payout ratio is 77.33%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on COFS shares. DA Davidson reaffirmed a “buy” rating and set a $36.00 price objective on shares of ChoiceOne Financial Services in a research report on Tuesday, February 3rd. Weiss Ratings restated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research report on Wednesday, January 21st. Hovde Group lowered shares of ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. Finally, Wall Street Zen raised shares of ChoiceOne Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of ChoiceOne Financial Services by 70.4% during the 2nd quarter. Geode Capital Management LLC now owns 324,220 shares of the company’s stock valued at $9,307,000 after purchasing an additional 133,999 shares during the last quarter. Squarepoint Ops LLC lifted its stake in ChoiceOne Financial Services by 128.1% in the 2nd quarter. Squarepoint Ops LLC now owns 34,301 shares of the company’s stock valued at $984,000 after purchasing an additional 19,263 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in ChoiceOne Financial Services by 153.2% in the second 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 in the last quarter. Intech Investment Management LLC bought a new stake in shares of ChoiceOne Financial Services during the second quarter worth $209,000. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of ChoiceOne Financial Services by 58.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,570 shares of the company’s stock worth $102,000 after buying an additional 1,311 shares during the last quarter. Institutional investors own 19.90% of the company’s stock.

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.