ChoiceOne Financial Services (NASDAQ:COFS) Insider Buys $13,700.00 in Stock

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) insider Adom Greenland acquired 500 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average price of $27.40 per share, with a total value of $13,700.00. Following the purchase, the insider owned 3,690 shares in the company, valued at approximately $101,106. This represents a 15.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ:COFS traded up $0.33 during midday trading on Monday, reaching $27.58. 41,729 shares of the company’s stock were exchanged, compared to its average volume of 88,630. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.84. The company’s 50 day simple moving average is $28.92 and its two-hundred day simple moving average is $29.44. ChoiceOne Financial Services, Inc. has a 12 month low of $24.89 and a 12 month high of $35.40. The firm has a market capitalization of $414.28 million, a PE ratio of 18.44 and a beta of 0.58.

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

ChoiceOne Financial Services Announces Dividend

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

Institutional Trading of ChoiceOne Financial Services

Several hedge funds have recently modified their holdings of COFS. Jones Financial Companies Lllp bought a new position in shares of ChoiceOne Financial Services in the third quarter valued at approximately $32,000. Legal & General Group Plc grew its position in ChoiceOne Financial Services by 74.6% during the 2nd quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock worth $37,000 after acquiring an additional 554 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in ChoiceOne Financial Services by 153.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,461 shares of the company’s stock worth $42,000 after acquiring an additional 884 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in ChoiceOne Financial Services during the 3rd quarter valued at $46,000. Finally, Tower Research Capital LLC TRC raised its position in ChoiceOne Financial Services by 617.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company’s stock valued at $65,000 after purchasing an additional 1,945 shares during the last quarter. Institutional investors and hedge funds own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.