ChoiceOne Financial Services (NASDAQ:COFS) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of ChoiceOne Financial Services (NASDAQ:COFS) from a buy rating to a hold rating in a research note released on Saturday.

A number of other research analysts have also recently issued reports on COFS. Hovde Group cut shares of ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c)” rating on shares of ChoiceOne Financial Services in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, ChoiceOne Financial Services has an average rating of “Hold” and an average price target of $35.00.

ChoiceOne Financial Services Stock Performance

Shares of ChoiceOne Financial Services stock opened at $28.69 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $29.97 and a 200 day simple moving average of $29.57. ChoiceOne Financial Services has a fifty-two week low of $24.89 and a fifty-two week high of $35.40. The firm has a market cap of $430.92 million, a P/E ratio of 20.94 and a beta of 0.61.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. ChoiceOne Financial Services had a return on equity of 11.52% and a net margin of 10.57%.The firm had revenue of $42.94 million during the quarter, compared to analyst estimates of $43.80 million. Sell-side analysts predict that ChoiceOne Financial Services will post 3.67 earnings per share for the current fiscal year.

ChoiceOne Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $0.29 per share. This is a positive change from ChoiceOne Financial Services’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.16 annualized dividend and a dividend yield of 4.0%. ChoiceOne Financial Services’s payout ratio is presently 84.67%.

Insiders Place Their Bets

In other news, Director Eric E. Burrough acquired 5,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was bought at an average price of $28.50 per share, with a total value of $142,500.00. Following the transaction, the director directly owned 174,833 shares in the company, valued at approximately $4,982,740.50. The trade was a 2.94% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.93% of the company’s stock.

Institutional Investors Weigh In On ChoiceOne Financial Services

Institutional investors have recently made changes to their positions in the company. Curi Capital LLC increased its holdings in shares of ChoiceOne Financial Services by 0.7% during the second quarter. Curi Capital LLC now owns 51,537 shares of the company’s stock worth $1,479,000 after purchasing an additional 337 shares during the period. CWM LLC grew its holdings in shares of ChoiceOne Financial Services by 6.0% during the 2nd quarter. CWM LLC now owns 8,223 shares of the company’s stock worth $236,000 after purchasing an additional 466 shares in the last quarter. Legal & General Group Plc increased its position 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 purchasing an additional 554 shares during the period. Ameritas Investment Partners Inc. raised its stake 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 valued at $42,000 after purchasing an additional 884 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in ChoiceOne Financial Services in the third quarter valued at about $32,000. Institutional investors own 19.90% of the company’s stock.

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.