ChoiceOne Financial Services, Inc. Announces Quarterly Dividend of $0.28 (NASDAQ:COFS)

Key Points

• ChoiceOne Financial Services, Inc. has announced a quarterly dividend of $0.28 per share, to be paid on September 30th to shareholders of record as of September 15th.
• The company has a dividend payout ratio of 30.1%, indicating that its dividend is well-covered by earnings, with analysts projecting an EPS of $3.85 for next year.
• ChoiceOne Financial Services has received a mixed rating from analysts, with a consensus rating of "Moderate Buy" and a target price of $37.00 per share.

ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Get Free Report) announced a quarterly dividend on Wednesday, August 27th. Shareholders of record on Monday, September 15th will be given a dividend of 0.28 per share on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, September 15th.

ChoiceOne Financial Services has a dividend payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ChoiceOne Financial Services to earn $3.85 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 29.1%.

ChoiceOne Financial Services Stock Performance

Shares of NASDAQ COFS traded down $0.19 during trading on Thursday, reaching $30.98. 10,748 shares of the company traded hands, compared to its average volume of 70,745. The firm has a 50 day simple moving average of $29.54 and a 200-day simple moving average of $29.29. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $465.32 million, a PE ratio of 24.59 and a beta of 0.57. ChoiceOne Financial Services has a 52-week low of $24.89 and a 52-week high of $38.15.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on COFS shares. Zacks Research raised shares of ChoiceOne Financial Services from a "strong sell" rating to a "hold" rating in a report on Tuesday. Wall Street Zen downgraded shares of ChoiceOne Financial Services from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, ChoiceOne Financial Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

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.

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