ChoiceOne Financial Services (NASDAQ:COFS) Stock Rating Upgraded by Zacks Research

Key Points

• ChoiceOne Financial Services was upgraded to a "hold" rating by Zacks Research, moving up from a "strong sell" rating.
• Wall Street Zen also downgraded the stock from a "buy" to a "hold," indicating mixed opinions from analysts despite an overall average rating of "Moderate Buy."
• In its latest quarterly earnings, ChoiceOne Financial reported $0.91 earnings per share, surpassing estimates, with revenue also exceeding forecasts at $42.83 million.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Wall Street Zen lowered shares of ChoiceOne Financial Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

ChoiceOne Financial Services Price Performance

COFS stock remained flat at $30.86 during trading hours on Tuesday. 43,370 shares of the company's stock were exchanged, compared to its average volume of 62,780. The company has a market capitalization of $463.36 million, a PE ratio of 24.49 and a beta of 0.59. 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 company's fifty day moving average is $29.66 and its 200-day moving average is $29.21. ChoiceOne Financial Services has a 12-month low of $24.89 and a 12-month high of $38.15.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last announced its quarterly 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. The firm had revenue of $42.83 million during the quarter, compared to analysts' expectations of $38.95 million. ChoiceOne Financial Services had a net margin of 7.95% and a return on equity of 11.26%. On average, sell-side analysts forecast that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

Institutional Trading of ChoiceOne Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of COFS. Wells Fargo & Company MN raised its stake in ChoiceOne Financial Services by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 4,891 shares of the company's stock worth $174,000 after purchasing an additional 1,065 shares in the last quarter. Invesco Ltd. increased its holdings in ChoiceOne Financial Services by 3.5% in the 4th quarter. Invesco Ltd. now owns 14,204 shares of the company's stock valued at $506,000 after buying an additional 483 shares during the period. Barclays PLC increased its holdings in ChoiceOne Financial Services by 18.8% in the 4th quarter. Barclays PLC now owns 15,853 shares of the company's stock valued at $565,000 after buying an additional 2,506 shares during the period. Dimensional Fund Advisors LP increased its holdings in ChoiceOne Financial Services by 30.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 22,450 shares of the company's stock valued at $800,000 after buying an additional 5,290 shares during the period. Finally, Stifel Financial Corp increased its holdings in ChoiceOne Financial Services by 56.0% in the 4th quarter. Stifel Financial Corp now owns 17,247 shares of the company's stock valued at $615,000 after buying an additional 6,189 shares during the period. 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.