ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Receives $35.50 Average PT from Brokerages

Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) have earned an average recommendation of “Hold” from the five research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $35.50.

COFS has been the topic of several recent research reports. Wall Street Zen downgraded ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Hovde Group cut ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Weiss Ratings reissued a “hold (c)” rating on shares of ChoiceOne Financial Services in a report on Wednesday, January 21st. Finally, DA Davidson restated a “buy” rating and set a $36.00 price target on shares of ChoiceOne Financial Services in a research report on Tuesday, February 3rd.

ChoiceOne Financial Services Stock Performance

COFS stock opened at $29.49 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The firm has a market cap of $443.06 million, a P/E ratio of 19.66 and a beta of 0.58. ChoiceOne Financial Services has a 12-month low of $24.89 and a 12-month high of $35.40. The stock’s 50 day simple moving average is $29.86 and its 200 day simple moving average is $29.60.

ChoiceOne Financial Services (NASDAQ:COFS) last released its earnings results on Friday, January 30th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $42.94 million during the quarter, compared to analyst estimates of $43.80 million. As a group, equities research analysts predict that ChoiceOne Financial Services will post 3.67 EPS for the current year.

ChoiceOne Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a dividend of $0.29 per share. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, December 15th. ChoiceOne Financial Services’s payout ratio is presently 77.33%.

Insider Buying and Selling

In other ChoiceOne Financial Services news, Director Eric E. Burrough bought 5,000 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average cost of $28.50 per share, for a total transaction of $142,500.00. Following the transaction, the director directly owned 174,833 shares in the company, valued at $4,982,740.50. The trade was a 2.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ChoiceOne Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of COFS. Cubist Systematic Strategies LLC acquired a new stake in shares of ChoiceOne Financial Services in the 1st quarter worth approximately $195,000. Empowered Funds LLC boosted its stake in ChoiceOne Financial Services by 8.1% during the 1st quarter. Empowered Funds LLC now owns 30,701 shares of the company’s stock valued at $883,000 after purchasing an additional 2,312 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of ChoiceOne Financial Services during the 1st quarter valued at $477,000. CWM LLC raised its stake in shares of ChoiceOne Financial Services by 6.0% in the 2nd quarter. CWM LLC now owns 8,223 shares of the company’s stock worth $236,000 after buying an additional 466 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of ChoiceOne Financial Services in the second quarter valued at $5,973,000. Institutional investors own 19.90% of the company’s stock.

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.