Rhumbline Advisers Has $291,000 Stake in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Rhumbline Advisers grew its position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,165 shares of the company’s stock after purchasing an additional 611 shares during the period. Rhumbline Advisers owned approximately 0.09% of ChoiceOne Financial Services worth $291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of COFS. SG Americas Securities LLC bought a new stake in ChoiceOne Financial Services in the 4th quarter valued at approximately $123,000. JPMorgan Chase & Co. raised its holdings in shares of ChoiceOne Financial Services by 157.1% in the third 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 raised its holdings in shares of ChoiceOne Financial Services by 173.3% in the third quarter. Barclays PLC now owns 13,347 shares of the company’s stock valued at $412,000 after purchasing an additional 8,463 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ChoiceOne Financial Services by 21.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,443 shares of the company’s stock worth $694,000 after purchasing an additional 3,986 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in ChoiceOne Financial Services by 5.2% during the third quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock worth $836,000 after purchasing an additional 1,340 shares during the last quarter. 19.90% of the stock is owned by institutional investors and hedge funds.

ChoiceOne Financial Services Trading Down 0.2 %

Shares of ChoiceOne Financial Services stock opened at $30.61 on Monday. The stock has a market cap of $274.20 million, a P/E ratio of 9.39 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.99. ChoiceOne Financial Services, Inc. has a 12-month low of $21.52 and a 12-month high of $38.15. The business’s 50 day moving average is $33.31 and its 200-day moving average is $33.19.

ChoiceOne Financial Services (NASDAQ:COFS) last issued 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 net margin of 19.21% and a return on equity of 12.44%. Equities research analysts predict that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current fiscal year.

ChoiceOne Financial Services Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.66%. ChoiceOne Financial Services’s payout ratio is 34.36%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on COFS shares. Janney Montgomery Scott upgraded shares of ChoiceOne Financial Services from a “neutral” rating to a “buy” rating in a research note on Monday, March 3rd. DA Davidson lowered their target price 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 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.