ChoiceOne Financial Services (NASDAQ:COFS) Price Target Cut to $39.00 by Analysts at DA Davidson

ChoiceOne Financial Services (NASDAQ:COFS) had its price objective lowered by analysts at DA Davidson from $41.00 to $39.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 14.27% from the stock’s previous close.

ChoiceOne Financial Services Stock Down 0.5 %

Shares of NASDAQ COFS traded down $0.17 on Monday, hitting $34.13. The company had a trading volume of 24,540 shares, compared to its average volume of 24,604. ChoiceOne Financial Services has a 12-month low of $21.52 and a 12-month high of $38.15. The business has a 50 day moving average of $35.67 and a two-hundred day moving average of $32.15. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $305.80 million, a P/E ratio of 10.47 and a beta of 0.72.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. As a group, equities research analysts forecast that ChoiceOne Financial Services will post 3.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ChoiceOne Financial Services

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of ChoiceOne Financial Services by 21.2% during the 3rd quarter. Geode Capital Management LLC now owns 187,342 shares of the company’s stock worth $5,792,000 after acquiring an additional 32,725 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of ChoiceOne Financial Services by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock worth $836,000 after acquiring an additional 1,340 shares in the last quarter. Curi RMB Capital LLC bought a new stake in shares of ChoiceOne Financial Services during the 3rd quarter worth $2,192,000. State Street Corp boosted its stake in shares of ChoiceOne Financial Services by 6.8% during the 3rd quarter. State Street Corp now owns 97,095 shares of the company’s stock worth $3,001,000 after acquiring an additional 6,209 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of ChoiceOne Financial Services by 21.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,443 shares of the company’s stock worth $694,000 after buying an additional 3,986 shares during the period. 19.90% of the stock is currently owned by institutional investors and hedge funds.

ChoiceOne Financial Services Company Profile

ChoiceOne Financial Services, Inc operates as the bank holding company for ChoiceOne Bank that provides banking services to corporations, partnerships, and individuals in Michigan. The company offers various deposit products, including time, savings, and demand deposits, safe deposit, and automated transaction machine services.