ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Update

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 550,200 shares, an increase of 17.6% from the February 13th total of 467,900 shares. Based on an average daily volume of 32,700 shares, the short-interest ratio is presently 16.8 days. Currently, 6.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COFS. DA Davidson decreased their target price on shares of ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Janney Montgomery Scott raised ChoiceOne Financial Services from a “neutral” rating to a “buy” rating in a report on Monday, March 3rd. Finally, Hovde Group began coverage on ChoiceOne Financial Services in a research report on Monday, March 10th. They issued an “outperform” rating and a $35.00 target price for the company.

ChoiceOne Financial Services Trading Up 0.5 %

Shares of NASDAQ COFS opened at $28.87 on Thursday. The firm has a 50 day moving average price of $32.36 and a two-hundred day moving average price of $33.12. The stock has a market cap of $258.94 million, a P/E ratio of 8.86 and a beta of 0.72. ChoiceOne Financial Services has a 52-week low of $21.52 and a 52-week high of $38.15. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its earnings results on Wednesday, January 22nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. As a group, equities analysts forecast that ChoiceOne Financial Services will post 3.67 EPS for the current year.

ChoiceOne Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, March 14th. ChoiceOne Financial Services’s dividend payout ratio is currently 34.36%.

Institutional Trading of ChoiceOne Financial Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mattson Financial Services LLC boosted its stake in shares of ChoiceOne Financial Services by 58.0% in the 4th quarter. Mattson Financial Services LLC now owns 2,575 shares of the company’s stock valued at $92,000 after purchasing an additional 945 shares during the last quarter. Globeflex Capital L P bought a new stake in ChoiceOne Financial Services during the fourth quarter valued at $107,000. SG Americas Securities LLC acquired a new stake in ChoiceOne Financial Services during the 4th quarter worth about $123,000. Wells Fargo & Company MN raised its position in shares of ChoiceOne Financial Services by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 4,891 shares of the company’s stock worth $174,000 after acquiring an additional 1,065 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of ChoiceOne Financial Services in the 4th quarter valued at about $260,000. Institutional investors and hedge funds own 19.90% of the company’s stock.

ChoiceOne Financial Services Company Profile

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.