ChoiceOne Financial Services (NASDAQ:COFS) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of ChoiceOne Financial Services (NASDAQ:COFS) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Separately, Zacks Research upgraded shares of ChoiceOne Financial Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.00.

ChoiceOne Financial Services Stock Down 0.3%

Shares of ChoiceOne Financial Services stock opened at $29.35 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $440.84 million, a PE ratio of 23.29 and a beta of 0.59. ChoiceOne Financial Services has a 52-week low of $24.89 and a 52-week high of $38.15. The company has a 50-day simple moving average of $29.94 and a two-hundred day simple moving average of $29.06.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its earnings results on Friday, July 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. The business had revenue of $42.83 million during the quarter, compared to analysts’ expectations of $38.95 million. ChoiceOne Financial Services had a net margin of 7.95% and a return on equity of 11.26%. On average, analysts anticipate that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

ChoiceOne Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.28 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.8%. ChoiceOne Financial Services’s payout ratio is currently 88.89%.

Institutional Trading of ChoiceOne Financial Services

Large investors have recently made changes to their positions in the stock. Nuveen LLC bought a new stake in ChoiceOne Financial Services during the first quarter valued at approximately $459,000. Penn Mutual Asset Management bought a new stake in ChoiceOne Financial Services during the first quarter valued at approximately $245,000. Wellington Management Group LLP bought a new stake in ChoiceOne Financial Services during the first quarter valued at approximately $478,000. CWM LLC grew its position in ChoiceOne Financial Services by 58.9% during the first quarter. CWM LLC now owns 7,757 shares of the company’s stock valued at $223,000 after buying an additional 2,876 shares during the period. Finally, Jacobs Asset Management LLC grew its position in ChoiceOne Financial Services by 149.9% during the first quarter. Jacobs Asset Management LLC now owns 156,159 shares of the company’s stock valued at $4,493,000 after buying an additional 93,659 shares during the period. 19.90% of the stock is currently owned by 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.