ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) has received an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $37.00.

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ChoiceOne Financial Services in a research report on Wednesday, October 8th. Zacks Research upgraded shares of ChoiceOne Financial Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen raised shares of ChoiceOne Financial Services from a “hold” rating to a “buy” rating in a report on Saturday.

Institutional Trading of ChoiceOne Financial Services

A number of hedge funds have recently modified their holdings of the company. Legal & General Group Plc grew its holdings in shares of 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. Ameritas Investment Partners Inc. lifted its position in ChoiceOne Financial Services by 153.2% in the second quarter. Ameritas Investment Partners Inc. now owns 1,461 shares of the company’s stock worth $42,000 after purchasing an additional 884 shares during the period. Tower Research Capital LLC TRC lifted its position in ChoiceOne Financial Services by 617.5% in the second 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 during the period. Police & Firemen s Retirement System of New Jersey boosted its stake in ChoiceOne Financial Services by 58.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,570 shares of the company’s stock worth $102,000 after buying an additional 1,311 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in ChoiceOne Financial Services in the 2nd quarter valued at $191,000. Institutional investors own 19.90% of the company’s stock.

ChoiceOne Financial Services Stock Performance

Shares of COFS opened at $30.39 on Tuesday. The company has a market capitalization of $456.46 million, a PE ratio of 22.18 and a beta of 0.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.85. ChoiceOne Financial Services has a one year low of $24.89 and a one year high of $38.15. The company’s fifty day moving average price is $29.37 and its 200 day moving average price is $29.09.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.60 earnings per share (EPS) for the quarter. The company had revenue of $20.17 million for the quarter. ChoiceOne Financial Services had a return on equity of 12.11% and a net margin of 10.57%. As a group, analysts expect that ChoiceOne Financial Services will post 3.67 earnings per share for the current year.

ChoiceOne Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, September 15th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 81.75%.

About ChoiceOne Financial Services

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.