ChoiceOne Financial Services (NASDAQ:COFS) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• ChoiceOne Financial Services' stock rating has been downgraded from a "buy" to a "hold" by Wall Street Zen.
• The company reported earnings of $0.91 per share, exceeding analysts' expectations of $0.80 per share.
• Institutional investors hold 19.90% of ChoiceOne Financial Services' stock, with several large stakes increasing significantly in recent quarters.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Friday.

Separately, Zacks Research upgraded shares of ChoiceOne Financial Services from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.00.

ChoiceOne Financial Services Trading Down 0.3%

Shares of NASDAQ COFS traded down $0.09 during midday trading on Friday, reaching $29.35. The stock had a trading volume of 41,107 shares, compared to its average volume of 61,844. The firm has a market cap of $440.84 million, a price-to-earnings ratio of 23.29 and a beta of 0.59. ChoiceOne Financial Services has a twelve month low of $24.89 and a twelve month high of $38.15. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 0.85. The company's 50 day moving average price is $29.94 and its 200 day moving average price is $29.06.

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 net margin of 7.95% and a return on equity of 11.26%. The company had revenue of $42.83 million for the quarter, compared to the consensus estimate of $38.95 million. As a group, sell-side analysts expect that ChoiceOne Financial Services will post 3.67 EPS for the current year.

Hedge Funds Weigh In On ChoiceOne Financial Services

Several large investors have recently added to or reduced their stakes in COFS. Legal & General Group Plc raised its stake in shares of ChoiceOne Financial Services by 74.6% in the second quarter. Legal & General Group Plc now owns 1,297 shares of the company's stock worth $37,000 after purchasing an additional 554 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in ChoiceOne Financial Services by 153.2% during the second quarter. Ameritas Investment Partners Inc. now owns 1,461 shares of the company's stock worth $42,000 after buying an additional 884 shares in the last quarter. Tower Research Capital LLC TRC raised its position in ChoiceOne Financial Services by 617.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company's stock valued at $65,000 after buying an additional 1,945 shares during the last quarter. GAMMA Investing LLC lifted its stake in ChoiceOne Financial Services by 35,137.5% during the 1st 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 in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of ChoiceOne Financial Services by 58.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,570 shares of the company's stock worth $102,000 after acquiring an additional 1,311 shares in the last quarter. Institutional investors own 19.90% of the company's stock.

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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