ChoiceOne Financial Services, Inc. (COFS) to Distribute Quarterly Dividend of $0.29 on September 30th

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) announced a quarterly dividend on Wednesday, August 26th. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.29 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 15th.

ChoiceOne Financial Services has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 13 years. ChoiceOne Financial Services has a payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect ChoiceOne Financial Services to earn $3.72 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 31.2%.

ChoiceOne Financial Services Trading Up 0.4%

ChoiceOne Financial Services stock opened at $34.05 on Friday. ChoiceOne Financial Services has a one year low of $26.09 and a one year high of $35.40. The company’s fifty day moving average price is $33.74 and its two-hundred day moving average price is $31.52. The company has a market capitalization of $509.39 million, a price-to-earnings ratio of 9.38 and a beta of 0.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.87 and a quick ratio of 0.87.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its earnings results on Friday, July 24th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.05). ChoiceOne Financial Services had a return on equity of 12.04% and a net margin of 22.77%.The firm had revenue of $41.64 million during the quarter, compared to the consensus estimate of $43.45 million. On average, analysts forecast that ChoiceOne Financial Services will post 3.63 earnings per share for the current fiscal year.

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.