Analysts Set ChoiceOne Financial Services, Inc. (NASDAQ:COFS) PT at $37.00

Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $37.00.

COFS has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of ChoiceOne Financial Services in a report on Wednesday, October 8th. Wall Street Zen raised shares of ChoiceOne Financial Services from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Zacks Research upgraded ChoiceOne Financial Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th.

Insiders Place Their Bets

In other news, Director Eric E. Burrough acquired 5,000 shares of ChoiceOne Financial Services stock in a transaction that occurred on Monday, November 17th. The stock was bought at an average price of $28.50 per share, with a total value of $142,500.00. Following the completion of the purchase, the director owned 174,833 shares in the company, valued at approximately $4,982,740.50. The trade was a 2.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 5.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Nuveen LLC purchased a new position in shares of ChoiceOne Financial Services in the first quarter valued at about $459,000. HighTower Advisors LLC grew its stake in shares of ChoiceOne Financial Services by 6.4% in the first quarter. HighTower Advisors LLC now owns 18,518 shares of the company’s stock worth $533,000 after purchasing an additional 1,116 shares during the last quarter. American Century Companies Inc. increased its holdings in ChoiceOne Financial Services by 47.4% during the 1st quarter. American Century Companies Inc. now owns 102,982 shares of the company’s stock valued at $2,963,000 after purchasing an additional 33,140 shares during the period. Wellington Management Group LLP bought a new position in ChoiceOne Financial Services during the 1st quarter valued at approximately $478,000. Finally, Jacobs Asset Management LLC lifted its holdings in ChoiceOne Financial Services by 149.9% in the 1st quarter. Jacobs Asset Management LLC now owns 156,159 shares of the company’s stock worth $4,493,000 after buying an additional 93,659 shares during the period. 19.90% of the stock is currently owned by institutional investors.

ChoiceOne Financial Services Stock Performance

Shares of NASDAQ:COFS opened at $30.47 on Wednesday. The firm has a market cap of $457.66 million, a PE ratio of 22.24 and a beta of 0.61. ChoiceOne Financial Services has a 12-month low of $24.89 and a 12-month high of $36.57. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average price is $29.73 and its two-hundred day moving average price is $29.58.

ChoiceOne Financial Services (NASDAQ:COFS) last released its earnings results on Tuesday, November 8th. The company reported $0.60 EPS for the quarter. ChoiceOne Financial Services had a net margin of 10.57% and a return on equity of 11.52%. The firm had revenue of $20.17 million for the quarter. Equities research 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 will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $0.29 dividend. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.16 annualized dividend and a yield of 3.8%. ChoiceOne Financial Services’s payout ratio is 84.67%.

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.