Wellington Management Group LLP bought a new stake in ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,605 shares of the company's stock, valued at approximately $478,000. Wellington Management Group LLP owned 0.19% of ChoiceOne Financial Services at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in 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 acquiring an additional 2,811 shares during the last quarter. Mattson Financial Services LLC raised its stake in ChoiceOne Financial Services by 58.0% in the 4th quarter. Mattson Financial Services LLC now owns 2,575 shares of the company's stock worth $92,000 after acquiring an additional 945 shares during the last quarter. 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 acquiring an additional 1,065 shares during the last quarter. CWM LLC raised its stake in ChoiceOne Financial Services by 58.9% in the 1st 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 purchased a new position in ChoiceOne Financial Services in the 1st quarter worth $228,000. Hedge funds and other institutional investors own 19.90% of the company's stock.
ChoiceOne Financial Services Price Performance
Shares of NASDAQ:COFS traded down $0.10 during trading on Friday, reaching $30.75. 52,572 shares of the company's stock traded hands, compared to its average volume of 60,078. ChoiceOne Financial Services, Inc. has a fifty-two week low of $24.89 and a fifty-two week high of $38.15. 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 firm has a market cap of $461.87 million, a PE ratio of 24.40 and a beta of 0.59. The company has a 50-day simple moving average of $29.84 and a 200-day simple moving average of $29.17.
ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last posted its 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. ChoiceOne Financial Services had a return on equity of 11.26% and a net margin of 7.95%.The firm had revenue of $42.83 million for the quarter, compared to analysts' expectations of $38.95 million. As a group, analysts predict that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current year.
ChoiceOne Financial Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, September 15th. ChoiceOne Financial Services's payout ratio is presently 88.89%.
Analysts Set New Price Targets
COFS has been the subject of a number of research analyst reports. Zacks Research upgraded ChoiceOne Financial Services from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Wall Street Zen raised ChoiceOne Financial Services from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, ChoiceOne Financial Services has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.
View Our Latest Stock Report on COFS
About ChoiceOne Financial Services
(
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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