ChoiceOne Financial Services (NASDAQ:COFS) Director Gregory Mcconnell Purchases 1,050 Shares of Stock

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Director Gregory Mcconnell bought 1,050 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were bought at an average cost of $27.94 per share, for a total transaction of $29,337.00. Following the transaction, the director directly owned 37,000 shares of the company’s stock, valued at $1,033,780. This trade represents a 2.92% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

ChoiceOne Financial Services Price Performance

NASDAQ:COFS opened at $27.95 on Tuesday. 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 stock has a market cap of $419.81 million, a P/E ratio of 18.63 and a beta of 0.58. The company has a fifty day moving average price of $29.05 and a 200 day moving average price of $29.53. ChoiceOne Financial Services, Inc. has a one year low of $24.89 and a one year high of $35.40.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its quarterly earnings data on Friday, January 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.01. The company had revenue of $42.94 million for the quarter, compared to the consensus estimate of $43.80 million. ChoiceOne Financial Services had a net margin of 12.38% and a return on equity of 11.81%. Analysts anticipate that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current year.

ChoiceOne Financial Services Dividend Announcement

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

Institutional Trading of ChoiceOne Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in COFS. Jones Financial Companies Lllp bought a new position in shares of ChoiceOne Financial Services in the 3rd quarter worth $32,000. Legal & General Group Plc grew its stake in shares of ChoiceOne Financial Services by 74.6% during the second quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock worth $37,000 after purchasing an additional 554 shares during the period. Ameritas Investment Partners Inc. increased its holdings 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 purchasing an additional 884 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in ChoiceOne Financial Services in the third quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC lifted its stake in ChoiceOne Financial Services by 617.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company’s stock valued at $65,000 after buying an additional 1,945 shares during the period. Institutional investors own 19.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on COFS shares. Wall Street Zen lowered ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Hovde Group lowered shares of ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 7th. DA Davidson reaffirmed a “buy” rating and set a $36.00 price objective on shares of ChoiceOne Financial Services in a report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.00.

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.