Gradient Investments LLC acquired a new stake in ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 9,318 shares of the company's stock, valued at approximately $268,000. Gradient Investments LLC owned approximately 0.10% of ChoiceOne Financial Services at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in COFS. Mattson Financial Services LLC increased its position in shares of ChoiceOne Financial Services by 58.0% in the fourth quarter. Mattson Financial Services LLC now owns 2,575 shares of the company's stock worth $92,000 after purchasing an additional 945 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of ChoiceOne Financial Services by 35,137.5% in the 1st quarter. GAMMA Investing LLC now owns 2,819 shares of the company's stock worth $81,000 after buying an additional 2,811 shares during the last quarter. Globeflex Capital L P purchased a new stake in shares of ChoiceOne Financial Services during the 4th quarter valued at $107,000. SG Americas Securities LLC bought a new stake in shares of ChoiceOne Financial Services during the 4th quarter worth $123,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of ChoiceOne Financial Services by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 4,891 shares of the company's stock worth $174,000 after acquiring an additional 1,065 shares during the last quarter. Hedge funds and other institutional investors own 19.90% of the company's stock.
ChoiceOne Financial Services Trading Up 2.4%
NASDAQ:COFS traded up $0.69 during trading hours on Friday, reaching $29.18. The company's stock had a trading volume of 66,209 shares, compared to its average volume of 37,714. The firm has a 50-day simple moving average of $28.13 and a 200-day simple moving average of $31.68. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. ChoiceOne Financial Services, Inc. has a 1 year low of $24.04 and a 1 year high of $38.15. The firm has a market capitalization of $437.23 million, a price-to-earnings ratio of 8.95 and a beta of 0.56.
ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $31.23 million for the quarter, compared to analysts' expectations of $29.70 million. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. Research analysts expect that ChoiceOne Financial Services, Inc. will post 3.67 EPS for the current fiscal year.
ChoiceOne Financial Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, June 13th. ChoiceOne Financial Services's dividend payout ratio (DPR) is currently 91.06%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on COFS. Hovde Group assumed coverage on ChoiceOne Financial Services in a research report on Monday, March 10th. They set an "outperform" rating and a $35.00 price target on the stock. Janney Montgomery Scott raised ChoiceOne Financial Services from a "neutral" rating to a "buy" rating in a report on Monday, March 3rd.
Check Out Our Latest Analysis on ChoiceOne Financial Services
ChoiceOne Financial Services Company Profile
(
Free Report)
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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