ChoiceOne Financial Services (NASDAQ:COFS) Stock Price Up 0.5% – Should You Buy?

ChoiceOne Financial Services, Inc. (NASDAQ:COFS)’s stock price traded up 0.5% during trading on Friday . The company traded as high as $33.00 and last traded at $32.57. 82,281 shares traded hands during trading, an increase of 4% from the average session volume of 79,128 shares. The stock had previously closed at $32.42.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. DA Davidson upped their target price on shares of ChoiceOne Financial Services from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Wall Street Zen downgraded shares of ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Weiss Ratings upgraded shares of ChoiceOne Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

ChoiceOne Financial Services Trading Up 0.5%

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $487.90 million, a price-to-earnings ratio of 8.80 and a beta of 0.60. The business’s 50-day simple moving average is $30.77 and its 200-day simple moving average is $29.85.

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

ChoiceOne Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, June 15th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is currently 31.35%.

Institutional Trading of ChoiceOne Financial Services

Hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in shares of ChoiceOne Financial Services in the 3rd quarter valued at approximately $32,000. Legal & General Group Plc increased its stake 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 purchasing an additional 554 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in ChoiceOne Financial Services during the 3rd quarter worth approximately $46,000. Tower Research Capital LLC TRC increased its stake in ChoiceOne Financial Services by 617.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company’s stock worth $65,000 after purchasing an additional 1,945 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in ChoiceOne Financial Services during the 4th quarter worth approximately $185,000. 19.90% of the stock is currently owned by institutional investors and hedge funds.

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.