ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• ChoiceOne Financial Services, Inc. has received a consensus rating of "Moderate Buy" from analysts, with one hold rating and three buy ratings among four covering research firms.
• The company reported $0.91 earnings per share for the recent quarter, surpassing the analysts' expectations of $0.80 and achieving revenue of $42.83 million.
• ChoiceOne Financial Services declared a quarterly dividend of $0.28, resulting in an annualized dividend yield of 3.9% and a payout ratio of 88.89%.

Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the four research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $37.00.

COFS has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ChoiceOne Financial Services in a research note on Saturday, September 27th. Zacks Research raised shares of ChoiceOne Financial Services from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen lowered shares of ChoiceOne Financial Services from a "buy" rating to a "hold" rating in a research note on Friday, September 26th.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ:COFS traded up $0.32 during trading on Friday, reaching $28.42. The stock had a trading volume of 189,913 shares, compared to its average volume of 71,238. ChoiceOne Financial Services has a 52 week low of $24.89 and a 52 week high of $38.15. The business's 50-day moving average price is $29.89 and its 200 day moving average price is $29.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $426.87 million, a PE ratio of 22.56 and a beta of 0.55.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The company reported $0.91 earnings per share 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 analyst estimates of $38.95 million. As a group, equities analysts predict that ChoiceOne Financial Services will post 3.67 earnings per share for the current year.

ChoiceOne Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, September 15th. ChoiceOne Financial Services's dividend payout ratio is presently 88.89%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in shares of ChoiceOne Financial Services by 84.6% during the fourth quarter. Bank of America Corp DE now owns 11,075 shares of the company's stock worth $395,000 after purchasing an additional 5,076 shares during the period. GAMMA Investing LLC increased its stake in ChoiceOne Financial Services by 35,137.5% in the first quarter. GAMMA Investing LLC now owns 2,819 shares of the company's stock valued at $81,000 after acquiring an additional 2,811 shares during the last quarter. Hoey Investments Inc. bought a new position in ChoiceOne Financial Services in the first quarter valued at approximately $237,000. Acorn Wealth Advisors LLC bought a new position in ChoiceOne Financial Services in the first quarter valued at approximately $228,000. Finally, CWM LLC increased its stake in ChoiceOne Financial Services by 58.9% in the first quarter. CWM LLC now owns 7,757 shares of the company's stock valued at $223,000 after acquiring an additional 2,876 shares during the last quarter. 19.90% of the stock is owned by institutional investors.

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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