ChoiceOne Financial Services (NASDAQ:COFS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ChoiceOne Financial Services (NASDAQ:COFS) from a hold rating to a buy rating in a report published on Sunday.

Several other equities research analysts have also recently weighed in on the company. Zacks Research upgraded ChoiceOne Financial Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Weiss Ratings restated a “hold (c)” rating on shares of ChoiceOne Financial Services in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.00.

ChoiceOne Financial Services Price Performance

Shares of ChoiceOne Financial Services stock opened at $30.64 on Friday. The firm has a market cap of $460.21 million, a PE ratio of 22.36 and a beta of 0.61. ChoiceOne Financial Services has a 12-month low of $24.89 and a 12-month high of $36.57. 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 company’s fifty day simple moving average is $29.85 and its two-hundred day simple moving average is $29.61.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.60 EPS for the quarter. The firm had revenue of $20.17 million during the quarter. ChoiceOne Financial Services had a net margin of 10.57% and a return on equity of 11.52%. As a group, equities analysts expect that ChoiceOne Financial Services will post 3.67 EPS for the current year.

ChoiceOne Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, December 15th. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.28. ChoiceOne Financial Services’s dividend payout ratio (DPR) is 84.67%.

Insiders Place Their Bets

In other news, Director Eric E. Burrough purchased 5,000 shares of ChoiceOne Financial Services stock in a transaction that occurred on Monday, November 17th. The shares were bought at an average cost of $28.50 per share, with a total value of $142,500.00. Following the completion of the purchase, the director directly owned 174,833 shares in the company, valued at approximately $4,982,740.50. This trade represents a 2.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.93% of the stock is currently owned by insiders.

Institutional Trading of ChoiceOne Financial Services

A number of hedge funds have recently modified their holdings of COFS. Jones Financial Companies Lllp bought a new position in shares of ChoiceOne Financial Services in the 3rd quarter worth about $32,000. Legal & General Group Plc grew its holdings in ChoiceOne Financial Services by 74.6% in the second quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock worth $37,000 after purchasing an additional 554 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of ChoiceOne Financial Services by 153.2% during the second quarter. Ameritas Investment Partners Inc. now owns 1,461 shares of the company’s stock valued at $42,000 after purchasing an additional 884 shares in the last quarter. Aquatic Capital Management LLC bought a new position in shares of ChoiceOne Financial Services during the third quarter valued at approximately $46,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of ChoiceOne Financial Services by 617.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company’s stock valued at $65,000 after purchasing an additional 1,945 shares during the last quarter. Institutional investors 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.