ChoiceOne Financial Services (NASDAQ:COFS – Free Report) had its price objective increased by DA Davidson from $38.00 to $40.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.
Several other research firms have also weighed in on COFS. Weiss Ratings reissued a “buy (b)” rating on shares of ChoiceOne Financial Services in a report on Friday, September 25th. Hovde Group boosted their price objective on shares of ChoiceOne Financial Services from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, ChoiceOne Financial Services currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.
Read Our Latest Analysis on COFS
ChoiceOne Financial Services Price Performance
ChoiceOne Financial Services stock opened at $37.59 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day simple moving average of $33.61 and a 200-day simple moving average of $31.64. ChoiceOne Financial Services has a 12 month low of $26.63 and a 12 month high of $37.71. The stock has a market capitalization of $562.35 million, a PE ratio of 10.36 and a beta of 0.61.
ChoiceOne Financial Services (NASDAQ:COFS – Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.12. The company had revenue of $45.19 million for the quarter, compared to analyst estimates of $44.50 million. ChoiceOne Financial Services had a return on equity of 12.13% and a net margin of 22.66%. Equities analysts predict that ChoiceOne Financial Services will post 3.69 earnings per share for the current year.
ChoiceOne Financial Services Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, September 15th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is currently 31.96%.
Institutional Trading of ChoiceOne Financial Services
A number of hedge funds have recently bought and sold shares of COFS. Legal & General Group Plc acquired a new position in shares of ChoiceOne Financial Services during the 2nd quarter valued at $49,000. Odyssean LLC acquired a new stake in ChoiceOne Financial Services in the 2nd quarter valued at $213,000. Sequoia Financial Advisors LLC acquired a new stake in ChoiceOne Financial Services in the 2nd quarter valued at $242,000. Quantinno Capital Management LP purchased a new position in ChoiceOne Financial Services in the first quarter valued at about $305,000. Finally, Ieq Capital LLC purchased a new position in ChoiceOne Financial Services in the second quarter valued at about $360,000. Institutional investors and hedge funds own 19.90% of the company’s stock.
About ChoiceOne Financial Services
ChoiceOne Financial Services, Inc (NASDAQ: COFS) is the bank holding company for ChoiceOne Bank, a community banking organization headquartered in Sparta, Michigan. The company serves individuals, families, farmers and businesses through a network of branches and digital banking channels primarily across western and central Michigan.
ChoiceOne Bank provides a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans and commercial lending.
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