ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Stock Holdings Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 21.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,443 shares of the company’s stock after buying an additional 3,986 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.25% of ChoiceOne Financial Services worth $694,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new position in shares of ChoiceOne Financial Services in the 2nd quarter worth $47,000. Renaissance Technologies LLC raised its holdings in ChoiceOne Financial Services by 7.3% during the 2nd quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock worth $544,000 after buying an additional 1,300 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of ChoiceOne Financial Services by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock worth $622,000 after buying an additional 1,425 shares during the period. Empowered Funds LLC increased its position in shares of ChoiceOne Financial Services by 5.2% in the third quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock worth $836,000 after acquiring an additional 1,340 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of ChoiceOne Financial Services during the third quarter valued at approximately $1,093,000. 19.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, DA Davidson assumed coverage on ChoiceOne Financial Services in a report on Friday, October 18th. They issued a “buy” rating and a $37.00 target price for the company.

ChoiceOne Financial Services Stock Down 4.5 %

Shares of ChoiceOne Financial Services stock opened at $34.63 on Thursday. The stock has a 50-day simple moving average of $34.77 and a 200-day simple moving average of $30.55. ChoiceOne Financial Services, Inc. has a 52-week low of $21.52 and a 52-week high of $38.15. The firm has a market cap of $310.22 million, a price-to-earnings ratio of 10.92 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.74 and a quick ratio of 0.74.

ChoiceOne Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.23%. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, December 13th. ChoiceOne Financial Services’s payout ratio is presently 35.33%.

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.