Geode Capital Management LLC Acquires 32,725 Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Geode Capital Management LLC boosted its stake in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 21.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 187,342 shares of the company’s stock after buying an additional 32,725 shares during the period. Geode Capital Management LLC owned approximately 2.09% of ChoiceOne Financial Services worth $5,792,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Empowered Funds LLC lifted its position in ChoiceOne Financial Services by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock valued at $836,000 after acquiring an additional 1,340 shares in the last quarter. Curi RMB Capital LLC bought a new stake in shares of ChoiceOne Financial Services in the third quarter valued at about $2,192,000. State Street Corp boosted its position in shares of ChoiceOne Financial Services by 6.8% during the third quarter. State Street Corp now owns 97,095 shares of the company’s stock worth $3,001,000 after buying an additional 6,209 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of ChoiceOne Financial Services by 21.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,443 shares of the company’s stock worth $694,000 after buying an additional 3,986 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in ChoiceOne Financial Services in the 3rd quarter valued at approximately $1,093,000. Institutional investors own 19.90% of the company’s stock.

ChoiceOne Financial Services Stock Up 1.3 %

Shares of COFS stock opened at $35.10 on Friday. The firm’s fifty day moving average price is $35.75 and its two-hundred day moving average price is $31.36. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.99. ChoiceOne Financial Services, Inc. has a 1 year low of $21.52 and a 1 year high of $38.15. The firm has a market capitalization of $314.43 million, a P/E ratio of 11.07 and a beta of 0.71.

ChoiceOne Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.28 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.19%. This is an increase from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. ChoiceOne Financial Services’s payout ratio is currently 35.33%.

Wall Street Analysts Forecast Growth

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

ChoiceOne Financial Services Company Profile

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.