ChoiceOne Financial Services, Inc. (COFS) to Issue Quarterly Dividend of $0.29 on June 30th

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) announced a quarterly dividend on Wednesday, May 20th. Stockholders of record on Monday, June 15th will be given a dividend of 0.29 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, June 15th.

ChoiceOne Financial Services has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 13 consecutive years. ChoiceOne Financial Services has a payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ChoiceOne Financial Services to earn $3.75 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 30.9%.

ChoiceOne Financial Services Price Performance

COFS stock opened at $32.57 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50 day simple moving average of $30.77 and a 200-day simple moving average of $29.85. The firm has a market capitalization of $487.90 million, a PE ratio of 8.80 and a beta of 0.60. ChoiceOne Financial Services has a 1 year low of $26.09 and a 1 year high of $35.40.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its quarterly earnings results on Friday, April 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $42.46 million during the quarter, compared to analyst estimates of $42.70 million. ChoiceOne Financial Services had a return on equity of 12.31% and a net margin of 23.07%. Equities research analysts anticipate that ChoiceOne Financial Services will post 3.61 earnings per share for the current fiscal year.

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.