Nuveen LLC Invests $459,000 in ChoiceOne Financial Services, Inc. $COFS

Key Points

• Nuveen LLC has invested approximately $459,000 in ChoiceOne Financial Services, acquiring 15,967 shares, which represents 0.18% ownership of the company as per its recent filing.
• ChoiceOne Financial Services declared a quarterly dividend of $0.28 per share, equating to a 3.6% dividend yield based on an annualized value of $1.12.
• Analysts have recently upgraded the stock rating for ChoiceOne Financial Services from "strong sell" to "hold" and "buy", with a consensus target price of $37.00.

Nuveen LLC acquired a new position in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,967 shares of the company's stock, valued at approximately $459,000. Nuveen LLC owned approximately 0.18% of ChoiceOne Financial Services at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in COFS. GAMMA Investing LLC lifted its holdings in shares of ChoiceOne Financial Services by 35,137.5% during the first quarter. GAMMA Investing LLC now owns 2,819 shares of the company's stock valued at $81,000 after purchasing an additional 2,811 shares during the last quarter. Mattson Financial Services LLC boosted its holdings in 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 acquiring an additional 945 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of ChoiceOne Financial Services by 27.8% in the fourth 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. CWM LLC grew its stake in shares of ChoiceOne Financial Services by 58.9% in 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 last quarter. Finally, Acorn Wealth Advisors LLC bought a new position in shares of ChoiceOne Financial Services during the first quarter valued at $228,000. Institutional investors own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

COFS has been the subject of several recent analyst reports. Wall Street Zen upgraded ChoiceOne Financial Services from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Zacks Research upgraded ChoiceOne Financial Services from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $37.00.

ChoiceOne Financial Services Stock Performance

NASDAQ COFS traded down $0.12 during trading hours on Wednesday, hitting $30.38. 53,700 shares of the company's stock traded hands, compared to its average volume of 61,252. ChoiceOne Financial Services, Inc. has a 52 week low of $24.89 and a 52 week high of $38.15. The firm has a market capitalization of $456.31 million, a P/E ratio of 24.11 and a beta of 0.59. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The business's fifty day moving average price is $29.91 and its two-hundred day moving average price is $29.16.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last posted 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 business had revenue of $42.83 million for the quarter, compared to analysts' expectations of $38.95 million. ChoiceOne Financial Services had a return on equity of 11.26% and a net margin of 7.95%. Equities research analysts predict that ChoiceOne Financial Services, Inc. will post 3.67 EPS for the current year.

ChoiceOne Financial Services Dividend Announcement

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

ChoiceOne Financial Services 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.