ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 157.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,887 shares of the company’s stock after purchasing an additional 6,652 shares during the quarter. JPMorgan Chase & Co. owned about 0.12% of ChoiceOne Financial Services worth $337,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Barclays PLC increased its position in shares of ChoiceOne Financial Services by 173.3% during the third quarter. Barclays PLC now owns 13,347 shares of the company’s stock valued at $412,000 after acquiring an additional 8,463 shares during the last quarter. Geode Capital Management LLC increased its holdings in ChoiceOne Financial Services by 21.2% in the 3rd quarter. Geode Capital Management LLC now owns 187,342 shares of the company’s stock valued at $5,792,000 after purchasing an additional 32,725 shares during the last quarter. Zacks Investment Management purchased a new stake in ChoiceOne Financial Services in the third quarter valued at approximately $3,625,000. State Street Corp lifted its stake in 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 purchasing an additional 6,209 shares in the last quarter. Finally, Jacobs Asset Management LLC acquired a new stake in shares of ChoiceOne Financial Services in the third quarter valued at $3,091,000. Hedge funds and other institutional investors own 19.90% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson lowered their target price on ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating for the company in a report on Monday.

ChoiceOne Financial Services Price Performance

Shares of COFS opened at $33.86 on Friday. The company has a market cap of $303.39 million, a P/E ratio of 10.39 and a beta of 0.72. ChoiceOne Financial Services, Inc. has a fifty-two week low of $21.52 and a fifty-two week high of $38.15. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.99. The firm’s 50 day moving average price is $35.51 and its 200 day moving average price is $32.26.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its quarterly earnings data 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%. On average, research analysts forecast that ChoiceOne Financial Services, Inc. will post 3.8 earnings per share for the current fiscal year.

ChoiceOne Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.28 per share. The ex-dividend date was Friday, December 13th. This is an increase from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.31%. ChoiceOne Financial Services’s payout ratio is currently 34.36%.

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.