ChoiceOne Financial Services' (COFS) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• ChoiceOne Financial Services has had its stock's "hold (C)" rating reaffirmed by Weiss Ratings, following a trend of mixed reviews from other analysts.
• The stock price decreased by $0.38 to $28.11 on Wednesday, with a consensus target price of $37.00, indicating potential for growth.
• Institutional investors are increasingly acquiring shares, with 19.90% of the company's stock now held by institutions and hedge funds.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the company. Wall Street Zen lowered ChoiceOne Financial Services from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Zacks Research upgraded ChoiceOne Financial Services from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

ChoiceOne Financial Services Stock Performance

COFS traded down $0.38 during trading on Wednesday, hitting $28.11. 60,839 shares of the stock were exchanged, compared to its average volume of 85,799. The firm has a market capitalization of $422.21 million, a P/E ratio of 22.31 and a beta of 0.55. ChoiceOne Financial Services has a 1-year low of $24.89 and a 1-year high of $38.15. The stock has a fifty day moving average price of $29.76 and a two-hundred day moving average price of $29.05. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last released its earnings results on Friday, July 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.11. ChoiceOne Financial Services had a return on equity of 11.26% and a net margin of 7.95%.The business had revenue of $42.83 million for the quarter, compared to analyst estimates of $38.95 million. As a group, sell-side analysts predict that ChoiceOne Financial Services will post 3.67 earnings per share for the current year.

Institutional Trading of ChoiceOne Financial Services

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in ChoiceOne Financial Services by 70.4% during the second quarter. Geode Capital Management LLC now owns 324,220 shares of the company's stock valued at $9,307,000 after purchasing an additional 133,999 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of ChoiceOne Financial Services by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 226,161 shares of the company's stock worth $6,491,000 after buying an additional 2,509 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of ChoiceOne Financial Services in the second quarter worth about $5,973,000. Jacobs Asset Management LLC lifted its position in shares of ChoiceOne Financial Services by 149.9% in the first quarter. Jacobs Asset Management LLC now owns 156,159 shares of the company's stock worth $4,493,000 after buying an additional 93,659 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of ChoiceOne Financial Services by 47.4% in the first quarter. American Century Companies Inc. now owns 102,982 shares of the company's stock worth $2,963,000 after buying an additional 33,140 shares during the last quarter. Institutional investors and hedge funds own 19.90% of the company's stock.

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.

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