Eric Burrough Acquires 5,000 Shares of ChoiceOne Financial Services (NASDAQ:COFS) Stock

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Director Eric Burrough purchased 5,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were bought at an average cost of $28.50 per share, for a total transaction of $142,500.00. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the SEC, which is available at this link.

ChoiceOne Financial Services Stock Performance

Shares of COFS stock traded up $0.37 on Wednesday, hitting $29.01. The company had a trading volume of 41,076 shares, compared to its average volume of 79,324. ChoiceOne Financial Services, Inc. has a twelve month low of $24.89 and a twelve month high of $38.15. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.55. The firm has a market cap of $435.77 million, a P/E ratio of 21.19 and a beta of 0.59. The company has a 50-day moving average price of $28.93 and a 200-day moving average price of $29.35.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its earnings results on Tuesday, November 8th. The company reported $0.60 EPS for the quarter. The firm had revenue of $20.17 million for the quarter. ChoiceOne Financial Services had a return on equity of 11.52% and a net margin of 10.57%. As a group, equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.9%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 81.75%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. 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. Wall Street Zen raised shares of ChoiceOne Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, ChoiceOne Financial Services has an average rating of “Moderate Buy” and an average target price of $37.00.

Institutional Trading of ChoiceOne Financial Services

Several institutional investors have recently modified their holdings of COFS. Vanguard Group Inc. increased its stake in shares of ChoiceOne Financial Services by 1.0% during the third quarter. Vanguard Group Inc. now owns 806,507 shares of the company’s stock worth $23,356,000 after purchasing an additional 8,209 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ChoiceOne Financial Services by 70.4% in the 2nd quarter. Geode Capital Management LLC now owns 324,220 shares of the company’s stock worth $9,307,000 after buying an additional 133,999 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in ChoiceOne Financial Services by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 226,161 shares of the company’s stock worth $6,491,000 after buying an additional 2,509 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of ChoiceOne Financial Services during the second quarter valued at approximately $5,973,000. Finally, Jacobs Asset Management LLC lifted its position in shares of ChoiceOne Financial Services by 149.9% in the first quarter. Jacobs Asset Management LLC now owns 156,159 shares of the company’s stock valued at $4,493,000 after acquiring an additional 93,659 shares in the last quarter. Institutional investors and hedge funds own 19.90% of the company’s stock.

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.