ChoiceOne Financial Services (NASDAQ:COFS) Price Target Lowered to $39.00 at DA Davidson

ChoiceOne Financial Services (NASDAQ:COFS) had its price target trimmed by DA Davidson from $41.00 to $39.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

ChoiceOne Financial Services Trading Down 0.5 %

NASDAQ:COFS opened at $34.13 on Monday. ChoiceOne Financial Services has a 12 month low of $21.52 and a 12 month 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. The company has a 50-day moving average price of $35.65 and a 200-day moving average price of $32.19. The stock has a market cap of $305.80 million, a price-to-earnings ratio of 10.47 and a beta of 0.72.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its earnings results on Wednesday, January 22nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. Equities analysts predict that ChoiceOne Financial Services will post 3.8 EPS for the current year.

ChoiceOne Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. ChoiceOne Financial Services’s payout ratio is 34.36%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Mattson Financial Services LLC bought a new stake in ChoiceOne Financial Services in the second quarter worth $47,000. SG Americas Securities LLC bought a new position in ChoiceOne Financial Services in the 4th quarter worth about $123,000. JPMorgan Chase & Co. grew its position in ChoiceOne Financial Services by 157.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,887 shares of the company’s stock valued at $337,000 after purchasing an additional 6,652 shares during the last quarter. Barclays PLC increased its stake in ChoiceOne Financial Services by 173.3% during the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock valued at $412,000 after purchasing an additional 8,463 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in ChoiceOne Financial Services by 7.3% during the 2nd quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock valued at $544,000 after purchasing an additional 1,300 shares in the last quarter. 19.90% of the stock is currently owned by institutional investors.

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.