Barclays PLC Increases Stock Holdings in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Barclays PLC increased its position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 173.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,347 shares of the company’s stock after acquiring an additional 8,463 shares during the quarter. Barclays PLC owned about 0.15% of ChoiceOne Financial Services worth $412,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of COFS. Bank of New York Mellon Corp boosted its holdings in ChoiceOne Financial Services by 7.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock valued at $622,000 after purchasing an additional 1,425 shares during the period. Renaissance Technologies LLC grew its stake in ChoiceOne Financial Services by 7.3% in 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 in the last quarter. Mattson Financial Services LLC purchased a new position in ChoiceOne Financial Services in the 2nd quarter worth approximately $47,000. Curi RMB Capital LLC purchased a new stake in shares of ChoiceOne Financial Services during the 3rd quarter valued at $2,192,000. Finally, Empowered Funds LLC lifted its holdings in shares of ChoiceOne Financial Services by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock worth $836,000 after acquiring an additional 1,340 shares during the last quarter. Hedge funds and other institutional investors own 19.90% of the company’s stock.

ChoiceOne Financial Services Stock Performance

Shares of NASDAQ COFS opened at $35.10 on Friday. The stock’s 50-day moving average is $35.75 and its 200 day moving average is $31.32. The stock has a market cap of $314.43 million, a price-to-earnings ratio of 11.07 and a beta of 0.71. ChoiceOne Financial Services, Inc. has a 1-year low of $21.52 and a 1-year high of $38.15. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.19%. This is a positive change from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, December 13th. ChoiceOne Financial Services’s payout ratio is presently 35.33%.

Wall Street Analyst Weigh In

Separately, DA Davidson began coverage on ChoiceOne Financial Services in a research note on Friday, October 18th. They issued a “buy” rating and a $37.00 target price on the stock.

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.