ChoiceOne Financial Services (NASDAQ:COFS) Given New $39.00 Price Target at DA Davidson

ChoiceOne Financial Services (NASDAQ:COFS) had its target price lowered by DA Davidson from $41.00 to $39.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock. DA Davidson also issued estimates for ChoiceOne Financial Services’ Q1 2025 earnings at $0.83 EPS and FY2025 earnings at $3.85 EPS.

ChoiceOne Financial Services Stock Performance

NASDAQ:COFS opened at $33.70 on Monday. ChoiceOne Financial Services has a 52-week low of $21.52 and a 52-week high of $38.15. The business’s fifty day moving average is $35.56 and its 200 day moving average is $32.25. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $301.95 million, a price-to-earnings ratio of 10.34 and a beta of 0.72.

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

ChoiceOne Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $0.28 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.12 annualized dividend and a dividend yield of 3.32%. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. ChoiceOne Financial Services’s dividend payout ratio is presently 34.36%.

Hedge Funds Weigh In On ChoiceOne Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its holdings in shares of ChoiceOne Financial Services by 7.3% in the 2nd quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock valued at $544,000 after acquiring an additional 1,300 shares in the last quarter. Mattson Financial Services LLC purchased a new stake in ChoiceOne Financial Services in the second quarter valued at approximately $47,000. Curi RMB Capital LLC bought a new stake in ChoiceOne Financial Services during the third quarter valued at approximately $2,192,000. Empowered Funds LLC grew its stake in ChoiceOne Financial Services by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock worth $836,000 after buying an additional 1,340 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of ChoiceOne Financial Services in the 3rd quarter worth $1,093,000. 19.90% of the stock is currently owned by hedge funds and other institutional investors.

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.