Sei Investments Co. Buys New Shares in ChoiceOne Financial Services, Inc. $COFS

Sei Investments Co. purchased a new stake in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,392 shares of the company’s stock, valued at approximately $545,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of COFS. Legal & General Group Plc raised its stake in shares of ChoiceOne Financial Services by 74.6% in the second quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock worth $37,000 after buying an additional 554 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of ChoiceOne Financial Services during the 3rd quarter valued at about $46,000. Tower Research Capital LLC TRC grew its stake in shares of 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 valued at $65,000 after acquiring an additional 1,945 shares during the period. SG Americas Securities LLC bought a new position in shares of ChoiceOne Financial Services during the 4th quarter valued at approximately $185,000. Finally, Quantbot Technologies LP purchased a new stake in ChoiceOne Financial Services in the 2nd quarter worth approximately $191,000. Hedge funds and other institutional investors own 19.90% of the company’s stock.

Analyst Ratings Changes

COFS has been the topic of a number of recent analyst reports. Hovde Group raised their target price on shares of ChoiceOne Financial Services from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings upgraded shares of ChoiceOne Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Finally, DA Davidson increased their price objective on shares of ChoiceOne Financial Services from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

ChoiceOne Financial Services Stock Performance

NASDAQ COFS opened at $34.38 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.71. ChoiceOne Financial Services, Inc. has a twelve month low of $26.09 and a twelve month high of $35.40. The business has a 50-day moving average price of $33.40 and a 200-day moving average price of $30.93. The firm has a market cap of $514.32 million, a price-to-earnings ratio of 9.47 and a beta of 0.60.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its quarterly earnings results on Friday, July 24th. The company reported $0.83 earnings per share 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 business had revenue of $41.64 million during the quarter, compared to the consensus estimate of $43.45 million. As a group, equities research analysts predict that ChoiceOne Financial Services, Inc. will post 3.63 EPS for the current fiscal year.

ChoiceOne Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, June 15th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 31.96%.

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.