Short Interest in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Rises By 8.3%

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 111,400 shares, a growth of 8.3% from the May 31st total of 102,900 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average daily volume of 8,300 shares, the days-to-cover ratio is currently 13.4 days.

Institutional Trading of ChoiceOne Financial Services

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in ChoiceOne Financial Services by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 350,690 shares of the company’s stock worth $9,591,000 after acquiring an additional 2,871 shares during the period. Cerity Partners LLC purchased a new position in ChoiceOne Financial Services in the 4th quarter worth approximately $1,351,000. Empowered Funds LLC boosted its holdings in ChoiceOne Financial Services by 7.9% in the 1st quarter. Empowered Funds LLC now owns 23,920 shares of the company’s stock worth $654,000 after acquiring an additional 1,750 shares during the period. CWM LLC boosted its holdings in ChoiceOne Financial Services by 33.8% in the 1st quarter. CWM LLC now owns 4,798 shares of the company’s stock worth $131,000 after acquiring an additional 1,211 shares during the period. Finally, SG Americas Securities LLC purchased a new position in ChoiceOne Financial Services in the 4th quarter worth approximately $111,000. Hedge funds and other institutional investors own 19.90% of the company’s stock.

ChoiceOne Financial Services Stock Down 0.1 %

Shares of NASDAQ:COFS opened at $28.68 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.71 and a current ratio of 0.71. ChoiceOne Financial Services has a 1 year low of $15.84 and a 1 year high of $32.14. The stock has a market capitalization of $217.11 million, a P/E ratio of 10.21 and a beta of 0.69. The stock has a 50-day simple moving average of $26.08 and a 200-day simple moving average of $26.58.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its earnings results on Wednesday, April 24th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.15. ChoiceOne Financial Services had a return on equity of 11.15% and a net margin of 17.53%. The business had revenue of $20.53 million during the quarter, compared to analysts’ expectations of $19.40 million. Equities analysts forecast that ChoiceOne Financial Services will post 3.02 earnings per share for the current year.

ChoiceOne Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Friday, June 14th. ChoiceOne Financial Services’s payout ratio is currently 38.43%.

About ChoiceOne Financial Services

ChoiceOne Financial Services, Inc operates as the bank holding company for ChoiceOne Bank that provides banking services to corporations, partnerships, and individuals in Michigan. The company offers various deposit products, including time, savings, and demand deposits, safe deposit, and automated transaction machine services.