ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Get Free Report) insider Adom Greenland acquired 500 shares of ChoiceOne Financial Services stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average price of $27.40 per share, for a total transaction of $13,700.00. Following the transaction, the insider directly owned 3,690 shares in the company, valued at $101,106. The trade was a 15.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
ChoiceOne Financial Services Price Performance
Shares of COFS opened at $27.55 on Tuesday. 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 stock has a market cap of $413.80 million, a PE ratio of 18.37 and a beta of 0.58. ChoiceOne Financial Services, Inc. has a 12-month low of $24.89 and a 12-month high of $35.40. The business has a 50-day simple moving average of $28.88 and a two-hundred day simple moving average of $29.42.
ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $42.94 million for the quarter, compared to analyst estimates of $43.80 million. Analysts anticipate that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current fiscal year.
ChoiceOne Financial Services Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, March 13th. ChoiceOne Financial Services's payout ratio is presently 77.33%.
Institutional Investors Weigh In On ChoiceOne Financial Services
Several institutional investors and hedge funds have recently made changes to their positions in COFS. Curi Capital LLC grew its stake in ChoiceOne Financial Services by 0.7% during the second quarter. Curi Capital LLC now owns 51,537 shares of the company's stock worth $1,479,000 after purchasing an additional 337 shares during the period. Legal & General Group Plc boosted its holdings in shares of ChoiceOne Financial Services by 74.6% during the 2nd quarter. Legal & General Group Plc now owns 1,297 shares of the company's stock worth $37,000 after buying an additional 554 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of ChoiceOne Financial Services by 153.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,461 shares of the company's stock worth $42,000 after buying an additional 884 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of ChoiceOne Financial Services by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,578 shares of the company's stock worth $254,000 after buying an additional 1,041 shares during the period. Finally, Jones Financial Companies Lllp bought a new stake in shares of ChoiceOne Financial Services in the 3rd quarter valued at $32,000. Institutional investors own 19.90% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on COFS shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ChoiceOne Financial Services in a research note on Wednesday, January 21st. DA Davidson reissued a "buy" rating and issued a $36.00 price objective on shares of ChoiceOne Financial Services in a research note on Tuesday, February 3rd. Hovde Group downgraded ChoiceOne Financial Services from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 7th. Finally, Wall Street Zen raised ChoiceOne Financial Services from a "hold" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $36.00.
Get Our Latest Research Report on COFS
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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