ChoiceOne Financial Services (NASDAQ:COFS – Get Free Report) released its earnings results on Friday. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.05), FiscalAI reports. ChoiceOne Financial Services had a net margin of 23.07% and a return on equity of 12.31%. The business had revenue of $41.64 million during the quarter, compared to analyst estimates of $43.45 million.
ChoiceOne Financial Services Stock Down 3.1%
COFS stock traded down $1.04 during midday trading on Friday, hitting $32.63. 45,897 shares of the company’s stock were exchanged, compared to its average volume of 86,736. The firm has a 50 day moving average price of $32.49 and a 200-day moving average price of $30.33. ChoiceOne Financial Services has a 12-month low of $26.09 and a 12-month high of $35.40. The stock has a market capitalization of $488.80 million, a price-to-earnings ratio of 8.82 and a beta of 0.59. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.50.
ChoiceOne Financial Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.29 per share. The ex-dividend date was Monday, June 15th. This represents a $1.16 annualized dividend and a yield of 3.6%. ChoiceOne Financial Services’s payout ratio is currently 31.35%.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on COFS
Institutional Trading of ChoiceOne Financial Services
A number of hedge funds have recently made changes to their positions in COFS. Curi Capital LLC raised its position in shares of 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 in the last quarter. Legal & General Group Plc increased its stake 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 last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of ChoiceOne Financial Services by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,578 shares of the company’s stock worth $254,000 after purchasing an additional 1,041 shares during the period. Deutsche Bank AG lifted its position in shares of ChoiceOne Financial Services by 11.3% in the 4th quarter. Deutsche Bank AG now owns 13,349 shares of the company’s stock worth $394,000 after buying an additional 1,351 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of ChoiceOne Financial Services by 7.4% in the 4th quarter. Invesco Ltd. now owns 20,099 shares of the company’s stock valued at $593,000 after buying an additional 1,388 shares during the period. Institutional investors and hedge funds own 19.90% of the company’s stock.
About ChoiceOne Financial Services
ChoiceOne Financial Services, Inc is a bank holding company headquartered in Jackson, Michigan. Through its subsidiary, ChoiceOne Bank, it provides a full suite of banking and financial services to individuals, families, and businesses. The company’s primary operations are concentrated in community banking, spanning retail deposits, commercial and consumer lending, mortgage origination, and treasury management solutions.
ChoiceOne Bank offers checking and savings accounts, certificates of deposit, and online and mobile banking platforms designed to meet the needs of its customers.
Featured Articles
- Five stocks we like better than ChoiceOne Financial Services
- CrowdStrike’s Cerebras Deal Puts Its AI Security Strategy to the Test
- Plugging In: How Kinder Morgan Powers Up Profits
- Freeport McMoRan Post-Earnings: Why Good Enough May Finally Be Good Enough
- TSMC’s Price Hikes Could Show Which AI Chip Stocks Have Real Pricing Power
Receive News & Ratings for ChoiceOne Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChoiceOne Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.png){kind=logo}
