ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) have received a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $37.00.

Several equities analysts have recently weighed in on the company. Zacks Research upgraded ChoiceOne Financial Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Weiss Ratings restated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday.

Insider Buying and Selling at ChoiceOne Financial Services

In other ChoiceOne Financial Services news, Director Eric E. Burrough purchased 5,000 shares of the stock in a transaction dated Monday, November 17th. The shares were purchased at an average cost of $28.50 per share, with a total value of $142,500.00. Following the completion of the acquisition, the director directly owned 174,833 shares in the company, valued at $4,982,740.50. This trade represents a 2.94% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ChoiceOne Financial Services

A number of hedge funds have recently bought and sold shares of the business. Curi Capital LLC lifted its stake in ChoiceOne Financial Services by 0.7% during the 2nd quarter. Curi Capital LLC now owns 51,537 shares of the company’s stock valued at $1,479,000 after acquiring an additional 337 shares during the period. CWM LLC raised its holdings in shares of ChoiceOne Financial Services by 6.0% during the second quarter. CWM LLC now owns 8,223 shares of the company’s stock valued at $236,000 after purchasing an additional 466 shares during the last quarter. Legal & General Group Plc lifted its position in ChoiceOne Financial Services by 74.6% during 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 during the period. Ameritas Investment Partners Inc. boosted its holdings 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 worth $42,000 after purchasing an additional 884 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in ChoiceOne Financial Services in the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 19.90% of the company’s stock.

ChoiceOne Financial Services Price Performance

COFS stock opened at $29.98 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a 50 day moving average price of $28.85 and a 200-day moving average price of $29.35. ChoiceOne Financial Services has a 52-week low of $24.89 and a 52-week high of $38.15. The firm has a market capitalization of $450.42 million, a price-to-earnings ratio of 21.88 and a beta of 0.59.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.60 earnings per share for the quarter. The company had revenue of $20.17 million during the quarter. ChoiceOne Financial Services had a return on equity of 11.52% and a net margin of 10.57%. Equities research analysts forecast that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

ChoiceOne Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, September 15th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is currently 81.75%.

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.