ChoiceOne Financial Services’ (COFS) Buy Rating Reiterated at DA Davidson

ChoiceOne Financial Services (NASDAQ:COFS)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $36.00 target price on the stock. DA Davidson’s price target would indicate a potential upside of 20.20% from the company’s previous close.

Several other equities analysts have also weighed in on COFS. Weiss Ratings restated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research report on Wednesday, January 21st. Hovde Group downgraded ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Finally, Wall Street Zen lowered ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.50.

ChoiceOne Financial Services Stock Up 1.0%

ChoiceOne Financial Services stock traded up $0.30 during midday trading on Tuesday, hitting $29.95. 22,416 shares of the stock were exchanged, compared to its average volume of 75,458. ChoiceOne Financial Services has a 52-week low of $24.89 and a 52-week high of $35.40. 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 business’s 50-day moving average price is $29.97 and its 200-day moving average price is $29.58. The stock has a market capitalization of $449.97 million, a price-to-earnings ratio of 19.97 and a beta of 0.61.

ChoiceOne Financial Services (NASDAQ:COFS) last released its earnings results on Friday, January 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.01. ChoiceOne Financial Services had a return on equity of 11.81% and a net margin of 12.38%.The company had revenue of $42.94 million during the quarter, compared to analyst estimates of $43.80 million. On average, research analysts expect that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Eric E. Burrough bought 5,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was acquired 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.93% of the stock is owned by corporate insiders.

Institutional Trading of ChoiceOne Financial Services

Hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC bought a new position in ChoiceOne Financial Services in the second quarter valued at $5,973,000. Geode Capital Management LLC raised its holdings in shares of ChoiceOne Financial Services by 70.4% during the 2nd quarter. Geode Capital Management LLC now owns 324,220 shares of the company’s stock valued at $9,307,000 after buying an additional 133,999 shares in the last quarter. Two Sigma Investments LP lifted its position in ChoiceOne Financial Services by 204.2% in the 3rd quarter. Two Sigma Investments LP now owns 97,963 shares of the company’s stock worth $2,837,000 after buying an additional 65,764 shares during the last quarter. First Trust Advisors LP boosted its stake in ChoiceOne Financial Services by 427.1% in the third quarter. First Trust Advisors LP now owns 50,990 shares of the company’s stock worth $1,477,000 after buying an additional 41,317 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in ChoiceOne Financial Services by 95.0% during the third quarter. Squarepoint Ops LLC now owns 66,898 shares of the company’s stock valued at $1,937,000 after acquiring an additional 32,597 shares during the last quarter. 19.90% of the stock is owned by institutional investors.

ChoiceOne Financial Services Company Profile

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.