Jacobs Asset Management LLC Raises Stock Holdings in ChoiceOne Financial Services, Inc. $COFS

Jacobs Asset Management LLC grew its position in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 19.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 196,227 shares of the company’s stock after acquiring an additional 32,330 shares during the quarter. ChoiceOne Financial Services comprises approximately 3.3% of Jacobs Asset Management LLC’s holdings, making the stock its 14th largest holding. Jacobs Asset Management LLC’s holdings in ChoiceOne Financial Services were worth $5,518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Legal & General Group Plc grew its holdings 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 valued at $37,000 after purchasing an additional 554 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in ChoiceOne Financial Services during the third quarter valued at $46,000. Tower Research Capital LLC TRC raised its stake in ChoiceOne Financial Services by 617.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company’s stock valued at $65,000 after purchasing an additional 1,945 shares in the last quarter. SG Americas Securities LLC bought a new position in ChoiceOne Financial Services during the fourth quarter valued at $185,000. Finally, Quantbot Technologies LP bought a new position in ChoiceOne Financial Services during the second quarter valued at $191,000. 19.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on COFS. DA Davidson boosted their target price on shares of ChoiceOne Financial Services from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Weiss Ratings raised ChoiceOne Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.00.

ChoiceOne Financial Services Trading Down 2.8%

COFS stock opened at $32.72 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.50. ChoiceOne Financial Services, Inc. has a twelve month low of $26.09 and a twelve month high of $35.40. The stock has a market capitalization of $490.15 million, a price-to-earnings ratio of 9.01 and a beta of 0.59. The firm’s fifty day simple moving average is $32.54 and its two-hundred day simple moving average is $30.34.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its 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). The firm had revenue of $41.64 million during the quarter, compared to analysts’ expectations of $43.45 million. ChoiceOne Financial Services had a net margin of 23.07% and a return on equity of 12.31%. As a group, analysts anticipate that ChoiceOne Financial Services, Inc. will post 3.6 earnings per share for the current year.

ChoiceOne Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, June 15th. ChoiceOne Financial Services’s dividend payout ratio is 31.35%.

ChoiceOne Financial Services 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.