ChoiceOne Financial Services (NASDAQ:COFS) Receives "Hold (C)" Rating from Weiss Ratings

Key Points

• ChoiceOne Financial Services has received a reaffirmed "Hold (C)" rating from Weiss Ratings, reflecting a cautious outlook from analysts.
• The stock rose 11.5%, ending trading at $30.59, with an average price target of $37.00, indicating potential for growth.
• Institutional investors have shown interest in the company, with 19.90% of the stock now owned by various hedge funds and advisors.

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

Other equities research analysts have also recently issued reports about the stock. Zacks Research raised shares of ChoiceOne Financial Services from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Wall Street Zen cut shares of ChoiceOne Financial Services from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, ChoiceOne Financial Services currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

ChoiceOne Financial Services Stock Up 11.5%

Shares of ChoiceOne Financial Services stock traded up $3.16 during trading on Friday, hitting $30.59. 123,146 shares of the stock were exchanged, compared to its average volume of 98,448. The stock has a market cap of $459.46 million, a price-to-earnings ratio of 24.28 and a beta of 0.55. The firm's 50-day moving average price is $29.36 and its 200 day moving average price is $29.02. ChoiceOne Financial Services has a 12-month low of $24.89 and a 12-month high of $38.15. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.85.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.60 earnings per share (EPS) for the quarter. The business had revenue of $20.17 million during the quarter. ChoiceOne Financial Services had a net margin of 7.95% and a return on equity of 11.26%. As a group, analysts forecast that ChoiceOne Financial Services will post 3.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in COFS. Acorn Wealth Advisors LLC acquired a new position in shares of ChoiceOne Financial Services during the first quarter worth about $228,000. CWM LLC increased its stake in shares of ChoiceOne Financial Services by 58.9% during the first quarter. CWM LLC now owns 7,757 shares of the company's stock worth $223,000 after acquiring an additional 2,876 shares during the period. Capstone Financial Advisors Inc. acquired a new position in shares of ChoiceOne Financial Services during the first quarter worth about $233,000. Nuveen LLC acquired a new position in shares of ChoiceOne Financial Services during the first quarter worth about $459,000. Finally, HighTower Advisors LLC increased its stake in shares of ChoiceOne Financial Services by 6.4% during the first quarter. HighTower Advisors LLC now owns 18,518 shares of the company's stock worth $533,000 after acquiring an additional 1,116 shares during the period. 19.90% of the stock is currently owned by institutional investors and hedge funds.

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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