ChoiceOne Financial Services, Inc. $COFS Shares Sold by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC reduced its stake in ChoiceOne Financial Services by 27.8%, selling 19,728 shares, leaving it with around 51,200 shares valued at approximately $1.47 million.
• ChoiceOne Financial Services announced a quarterly dividend of $0.28 per share with an annualized dividend yield of 3.6%, to be paid to shareholders on September 30th.
• Wall Street analysts have upgraded ChoiceOne Financial Services to a "buy" rating with a consensus price target of $37.00, indicating positive growth expectations.

Curi RMB Capital LLC decreased its holdings in ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) by 27.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,200 shares of the company's stock after selling 19,728 shares during the quarter. Curi RMB Capital LLC owned 0.57% of ChoiceOne Financial Services worth $1,473,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jacobs Asset Management LLC grew its holdings in ChoiceOne Financial Services by 149.9% in the first quarter. Jacobs Asset Management LLC now owns 156,159 shares of the company's stock valued at $4,493,000 after purchasing an additional 93,659 shares during the period. American Century Companies Inc. grew its stake in ChoiceOne Financial Services by 47.4% in the 1st quarter. American Century Companies Inc. now owns 102,982 shares of the company's stock valued at $2,963,000 after acquiring an additional 33,140 shares during the period. Northern Trust Corp grew its stake in ChoiceOne Financial Services by 2.1% in the 4th quarter. Northern Trust Corp now owns 65,963 shares of the company's stock valued at $2,351,000 after acquiring an additional 1,374 shares during the period. Bridgeway Capital Management LLC increased its holdings in ChoiceOne Financial Services by 2.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 56,889 shares of the company's stock worth $2,028,000 after acquiring an additional 1,329 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in ChoiceOne Financial Services by 10.6% during the fourth quarter. Citadel Advisors LLC now owns 24,286 shares of the company's stock worth $866,000 after acquiring an additional 2,321 shares during the period. Hedge funds and other institutional investors own 19.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on COFS. Wall Street Zen upgraded shares of ChoiceOne Financial Services from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. 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. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

ChoiceOne Financial Services Price Performance

Shares of COFS stock traded up $0.07 during trading hours on Thursday, reaching $30.45. The company had a trading volume of 64,110 shares, compared to its average volume of 59,615. ChoiceOne Financial Services, Inc. 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 quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $457.36 million, a price-to-earnings ratio of 24.17 and a beta of 0.59. The stock has a fifty day moving average of $29.91 and a 200-day moving average of $29.15.

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

ChoiceOne Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.12 annualized dividend and a dividend yield of 3.7%. ChoiceOne Financial Services's payout ratio is presently 88.89%.

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.