ChoiceOne Financial Services, Inc. Announces Quarterly Dividend of $0.29 (NASDAQ:COFS)

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) declared a quarterly dividend on Wednesday, May 20th. Shareholders of record on Monday, June 15th will be paid a dividend of 0.29 per share on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, June 15th.

ChoiceOne Financial Services has increased its dividend by an average of 0.1%annually over the last three years and has increased 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 Stock Performance

Shares of COFS opened at $31.35 on Thursday. ChoiceOne Financial Services has a one year low of $26.09 and a one year high of $35.40. The company has a 50-day moving average of $29.40 and a two-hundred day moving average of $29.55. The stock has a market cap of $469.47 million, a price-to-earnings ratio of 8.47 and a beta of 0.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.83 and a quick ratio of 0.83.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its earnings results on Friday, April 24th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. ChoiceOne Financial Services had a net margin of 23.07% and a return on equity of 12.31%. The company had revenue of $42.46 million during the quarter, compared to analysts’ expectations of $42.70 million. On average, equities research analysts expect that ChoiceOne Financial Services will post 3.61 earnings per share for the current year.

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.