Bridgeway Capital Management LLC Has $2.03 Million Stock Position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Bridgeway Capital Management LLC boosted its holdings in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 2.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,889 shares of the company’s stock after acquiring an additional 1,329 shares during the quarter. Bridgeway Capital Management LLC owned 0.63% of ChoiceOne Financial Services worth $2,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of ChoiceOne Financial Services during the fourth quarter worth approximately $123,000. Barclays PLC lifted its position in ChoiceOne Financial Services by 173.3% in the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $412,000 after buying an additional 8,463 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of ChoiceOne Financial Services by 4.9% during the 4th quarter. Empowered Funds LLC now owns 28,389 shares of the company’s stock valued at $1,012,000 after buying an additional 1,329 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of ChoiceOne Financial Services by 33.0% during the 4th quarter. Bank of New York Mellon Corp now owns 27,882 shares of the company’s stock valued at $994,000 after acquiring an additional 6,921 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of ChoiceOne Financial Services by 9.2% in the fourth quarter. Vanguard Group Inc. now owns 438,579 shares of the company’s stock worth $15,631,000 after acquiring an additional 36,909 shares during the last quarter. Hedge funds and other institutional investors own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

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

ChoiceOne Financial Services Trading Down 0.3 %

ChoiceOne Financial Services stock opened at $28.99 on Friday. ChoiceOne Financial Services, Inc. has a one year low of $23.71 and a one year high of $38.15. The company’s fifty day moving average price is $27.95 and its two-hundred day moving average price is $32.27. The company has a market capitalization of $260.01 million, a price-to-earnings ratio of 8.89 and a beta of 0.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.74 and a quick ratio of 0.74.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. The firm had revenue of $31.23 million during the quarter, compared to analyst estimates of $29.70 million. On average, analysts forecast that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current fiscal year.

ChoiceOne Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.12 dividend on an annualized basis and a yield of 3.86%. ChoiceOne Financial Services’s payout ratio is presently 91.06%.

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.