Fourthstone LLC Raises Position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Fourthstone LLC boosted its position in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) by 34.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 476,103 shares of the company's stock after purchasing an additional 121,473 shares during the period. ChoiceOne Financial Services accounts for 3.3% of Fourthstone LLC's investment portfolio, making the stock its 9th biggest holding. Fourthstone LLC owned 5.31% of ChoiceOne Financial Services worth $16,968,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in ChoiceOne Financial Services by 21.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,443 shares of the company's stock valued at $694,000 after acquiring an additional 3,986 shares during the last quarter. State Street Corp grew its holdings in shares of ChoiceOne Financial Services by 6.8% during the third quarter. State Street Corp now owns 97,095 shares of the company's stock worth $3,001,000 after purchasing an additional 6,209 shares during the last quarter. Barclays PLC increased its stake in shares of ChoiceOne Financial Services by 173.3% in the 3rd quarter. Barclays PLC now owns 13,347 shares of the company's stock valued at $412,000 after acquiring an additional 8,463 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ChoiceOne Financial Services by 21.2% during the third quarter. Geode Capital Management LLC now owns 187,342 shares of the company's stock worth $5,792,000 after purchasing an additional 32,725 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of ChoiceOne Financial Services by 157.1% during the third quarter. JPMorgan Chase & Co. now owns 10,887 shares of the company's stock valued at $337,000 after buying an additional 6,652 shares during the last quarter. Hedge funds and other institutional investors own 19.90% of the company's stock.

ChoiceOne Financial Services Stock Up 2.3 %

ChoiceOne Financial Services stock traded up $0.62 during mid-day trading on Tuesday, hitting $26.87. The company had a trading volume of 17,968 shares, compared to its average volume of 30,557. The business has a fifty day moving average of $29.03 and a 200 day moving average of $32.52. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.99. ChoiceOne Financial Services, Inc. has a 1 year low of $23.12 and a 1 year high of $38.15. The stock has a market cap of $240.95 million, a price-to-earnings ratio of 8.24 and a beta of 0.61.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. ChoiceOne Financial Services had a net margin of 19.21% and a return on equity of 12.44%. On average, sell-side analysts expect that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current fiscal year.

ChoiceOne Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, March 14th. This represents a $1.12 annualized dividend and a dividend yield of 4.17%. ChoiceOne Financial Services's dividend payout ratio is 34.36%.

Analysts Set New Price Targets

COFS has been the subject of a number of recent research reports. DA Davidson dropped their target price on ChoiceOne Financial Services from $41.00 to $39.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Hovde Group initiated coverage on shares of ChoiceOne Financial Services in a research report on Monday, March 10th. They set an "outperform" rating and a $35.00 price objective for the company. Finally, Janney Montgomery Scott upgraded shares of ChoiceOne Financial Services from a "neutral" rating to a "buy" rating in a research report on Monday, March 3rd.

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.