ChoiceOne Financial Services (NASDAQ:COFS) Upgraded by Janney Montgomery Scott to “Buy” Rating

Janney Montgomery Scott upgraded shares of ChoiceOne Financial Services (NASDAQ:COFS) from a neutral rating to a buy rating in a report released on Monday, MarketBeat Ratings reports.

Separately, DA Davidson cut their price objective on ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 27th.

ChoiceOne Financial Services Stock Down 0.1 %

COFS opened at $31.75 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market cap of $284.42 million, a price-to-earnings ratio of 9.74 and a beta of 0.71. ChoiceOne Financial Services has a one year low of $21.52 and a one year high of $38.15. The business’s fifty day moving average is $33.70 and its two-hundred day moving average is $33.10.

ChoiceOne Financial Services (NASDAQ:COFS) last released its earnings results on Wednesday, January 22nd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. ChoiceOne Financial Services had a net margin of 19.21% and a return on equity of 12.44%. Analysts anticipate that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

ChoiceOne Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.12 annualized dividend and a dividend yield of 3.53%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is 34.36%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Globeflex Capital L P acquired a new stake in ChoiceOne Financial Services in the fourth quarter valued at approximately $107,000. SG Americas Securities LLC acquired a new position in ChoiceOne Financial Services in the fourth quarter valued at about $123,000. Wells Fargo & Company MN lifted its position in ChoiceOne Financial Services by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 4,891 shares of the company’s stock worth $174,000 after buying an additional 1,065 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in ChoiceOne Financial Services in the fourth quarter worth about $260,000. Finally, Trexquant Investment LP bought a new stake in shares of ChoiceOne Financial Services in the 4th quarter valued at about $268,000. 19.90% of the stock is currently owned by institutional investors and hedge funds.

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.