Bridgeway Capital Management LLC Buys 1,329 Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Bridgeway Capital Management LLC lifted its stake in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 2.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 56,889 shares of the company’s stock after acquiring an additional 1,329 shares during the period. Bridgeway Capital Management LLC’s holdings in ChoiceOne Financial Services were worth $2,028,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Globeflex Capital L P bought a new stake in shares of ChoiceOne Financial Services in the 4th quarter worth approximately $107,000. SG Americas Securities LLC acquired a new position in shares of ChoiceOne Financial Services in the fourth quarter valued at $123,000. Wells Fargo & Company MN raised its stake in shares of ChoiceOne Financial Services by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 4,891 shares of the company’s stock valued at $174,000 after purchasing an additional 1,065 shares in the last quarter. Hsbc Holdings PLC bought a new position in ChoiceOne Financial Services in the fourth quarter worth $260,000. Finally, Trexquant Investment LP bought a new stake in ChoiceOne Financial Services in the 4th quarter valued at $268,000. 19.90% of the stock is owned by institutional investors and hedge funds.

ChoiceOne Financial Services Stock Down 0.3 %

Shares of NASDAQ:COFS opened at $28.99 on Friday. The company’s fifty day moving average is $27.95 and its 200-day moving average is $32.27. 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, Inc. has a 52 week low of $23.71 and a 52 week high of $38.15. The company has a market capitalization of $260.01 million, a PE ratio of 8.89 and a beta of 0.56.

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

ChoiceOne Financial Services Announces Dividend

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

Analysts Set New Price Targets

COFS has been the topic of several recent research reports. Hovde Group initiated coverage on shares of ChoiceOne Financial Services in a research report on Monday, March 10th. They set an “outperform” rating and a $35.00 target price on the stock. Janney Montgomery Scott upgraded shares of ChoiceOne Financial Services from a “neutral” rating to a “buy” rating in a research note on Monday, March 3rd. Finally, DA Davidson lowered their price objective on 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.

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.