Key Points
- Director Gregory McConnell purchased 1,050 shares of ChoiceOne Financial Services on March 6 at an average price of $27.94 for $29,337, increasing his ownership to 37,000 shares (a 2.92% boost).
- ChoiceOne reported Q4 EPS of $0.92 (beating by $0.01), the stock trades around $27.95 with a market cap near $420M, and the company pays a $0.29 quarterly dividend (annualized yield ~4.2%, ex‑dividend/record March 13, payable March 31) while analysts’ consensus is a Hold with an average $36 target.
ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Get Free Report) Director Gregory Mcconnell purchased 1,050 shares of the stock in a transaction dated Friday, March 6th. The stock was bought at an average cost of $27.94 per share, with a total value of $29,337.00. Following the completion of the purchase, the director owned 37,000 shares in the company, valued at $1,033,780. The trade was a 2.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
ChoiceOne Financial Services Stock Down 1.2%
ChoiceOne Financial Services stock opened at $27.95 on Tuesday. The company's 50 day simple moving average is $29.05 and its 200 day simple moving average is $29.53. ChoiceOne Financial Services, Inc. has a fifty-two week low of $24.89 and a fifty-two week high of $35.40. The firm has a market capitalization of $419.81 million, a price-to-earnings ratio of 18.63 and a beta of 0.58. 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 - Get Free Report) last issued its earnings results on Friday, January 30th. The company reported $0.92 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $42.94 million during the quarter, compared to the consensus estimate of $43.80 million. As a group, sell-side analysts anticipate that ChoiceOne Financial Services, Inc. will post 3.67 EPS for the current year.
ChoiceOne Financial Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.16 annualized dividend and a dividend yield of 4.2%. ChoiceOne Financial Services's payout ratio is 77.33%.
Hedge Funds Weigh In On ChoiceOne Financial Services
A number of institutional investors and hedge funds have recently added to or reduced their stakes in COFS. ProShare Advisors LLC acquired a new stake in shares of ChoiceOne Financial Services in the 2nd quarter valued at about $5,973,000. Geode Capital Management LLC boosted its position in shares of ChoiceOne Financial Services by 70.4% during the second quarter. Geode Capital Management LLC now owns 324,220 shares of the company's stock worth $9,307,000 after buying an additional 133,999 shares during the period. Jane Street Group LLC grew its holdings in shares of ChoiceOne Financial Services by 556.4% during the fourth quarter. Jane Street Group LLC now owns 146,782 shares of the company's stock worth $4,333,000 after buying an additional 124,419 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of ChoiceOne Financial Services by 210.1% during the fourth quarter. Marshall Wace LLP now owns 134,461 shares of the company's stock worth $3,969,000 after buying an additional 91,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in ChoiceOne Financial Services by 60.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 202,911 shares of the company's stock valued at $5,990,000 after buying an additional 76,226 shares during the last quarter. 19.90% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently commented on COFS. Hovde Group downgraded ChoiceOne Financial Services from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of ChoiceOne Financial Services in a report on Wednesday, January 21st. DA Davidson reiterated a "buy" rating and issued a $36.00 price objective on shares of ChoiceOne Financial Services in a research report on Tuesday, February 3rd. Finally, Wall Street Zen cut ChoiceOne Financial Services from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $36.00.
View Our Latest Stock Report on ChoiceOne Financial Services
ChoiceOne Financial Services Company Profile
(
Get Free Report)
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.
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