ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Plans $0.29 Quarterly Dividend

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) announced a quarterly dividend on Wednesday, February 25th. Investors of record on Friday, March 13th will be given a dividend of 0.29 per share on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, March 13th.

ChoiceOne Financial Services has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 13 years. ChoiceOne Financial Services has a payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ChoiceOne Financial Services to earn $3.85 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 30.1%.

ChoiceOne Financial Services Stock Performance

COFS stock traded down $0.05 during trading on Thursday, hitting $29.44. 15,803 shares of the company traded hands, compared to its average volume of 83,278. ChoiceOne Financial Services has a 1 year low of $24.89 and a 1 year high of $35.40. The company has a market cap of $442.25 million, a PE ratio of 19.63 and a beta of 0.58. The stock’s 50-day simple moving average is $29.33 and its 200 day simple moving average is $29.59. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.84 and a quick ratio of 0.83.

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

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.