ChoiceOne Financial Services (NASDAQ:COFS) Stock Price Target Raised at DA Davidson

ChoiceOne Financial Services (NASDAQ:COFS) had its price target raised by stock analysts at DA Davidson from $38.00 to $40.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson‘s target price would indicate a potential upside of 9.56% from the stock’s previous close.

COFS has been the subject of a number of other reports. Weiss Ratings restated a “buy (b)” rating on shares of ChoiceOne Financial Services in a research note on Friday, September 25th. Hovde Group lifted their price objective on shares of ChoiceOne Financial Services from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, ChoiceOne Financial Services has an average rating of “Moderate Buy” and a consensus target price of $37.50.

ChoiceOne Financial Services Trading Up 3.0%

ChoiceOne Financial Services stock traded up $1.06 during trading hours on Monday, hitting $36.51. The company had a trading volume of 8,913 shares, compared to its average volume of 84,496. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $546.17 million, a P/E ratio of 10.04 and a beta of 0.61. The company has a 50-day moving average price of $33.40 and a two-hundred day moving average price of $31.51. ChoiceOne Financial Services has a 1 year low of $26.63 and a 1 year high of $37.10.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its earnings results on Friday, October 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.12. ChoiceOne Financial Services had a return on equity of 12.13% and a net margin of 22.66%. The business had revenue of $45.19 million during the quarter, compared to analyst estimates of $44.50 million. On average, sell-side analysts anticipate that ChoiceOne Financial Services will post 3.65 earnings per share for the current year.

Institutional Investors Weigh In On ChoiceOne Financial Services

Several hedge funds have recently modified their holdings of COFS. Sequoia Financial Advisors LLC purchased a new position in ChoiceOne Financial Services during the second quarter worth approximately $242,000. Empowered Funds LLC acquired a new stake in shares of ChoiceOne Financial Services in the second quarter worth approximately $1,571,000. Bank of America Corp DE acquired a new stake in shares of ChoiceOne Financial Services in the second quarter worth approximately $1,651,000. Odyssean LLC purchased a new stake in shares of ChoiceOne Financial Services during the second quarter worth approximately $213,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of ChoiceOne Financial Services during the second quarter worth approximately $845,000. 19.90% of the stock is owned by hedge funds and other institutional investors.

About ChoiceOne Financial Services

ChoiceOne Financial Services, Inc (NASDAQ: COFS) is the bank holding company for ChoiceOne Bank, a community banking organization headquartered in Sparta, Michigan. The company serves individuals, families, farmers and businesses through a network of branches and digital banking channels primarily across western and central Michigan.

ChoiceOne Bank provides a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans and commercial lending.