DA Davidson Has Optimistic Outlook of COFS FY2025 Earnings

Key Points

• DA Davidson raised its FY2025 earnings per share estimate for ChoiceOne Financial Services from $3.40 to $3.50, while the consensus estimate stands at $3.67.
• ChoiceOne Financial Services reported $0.91 earnings per share in its last quarterly earnings, beating expectations of $0.80, alongside revenue of $42.83 million.
• The company declared a quarterly dividend of $0.28, yielding an annualized rate of 3.74% with a payout ratio of 88.89%.

ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) - DA Davidson increased their FY2025 earnings per share estimates for shares of ChoiceOne Financial Services in a report issued on Monday, July 28th. DA Davidson analyst J. Rulis now forecasts that the company will post earnings of $3.50 per share for the year, up from their previous forecast of $3.40. The consensus estimate for ChoiceOne Financial Services' current full-year earnings is $3.67 per share.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. ChoiceOne Financial Services had a return on equity of 12.35% 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.

Separately, Wall Street Zen raised ChoiceOne Financial Services from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ:COFS traded down $0.69 during trading on Wednesday, hitting $28.71. 69,208 shares of the stock were exchanged, compared to its average volume of 72,803. The company has a fifty day moving average price of $29.29 and a two-hundred day moving average price of $29.78. The company has a market cap of $430.08 million, a PE ratio of 22.79 and a beta of 0.57. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. ChoiceOne Financial Services has a 12-month low of $24.89 and a 12-month high of $38.15.

ChoiceOne Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.12 annualized dividend and a dividend yield of 3.9%. ChoiceOne Financial Services's payout ratio is 88.89%.

Institutional Investors Weigh In On ChoiceOne Financial Services

Several institutional investors have recently modified their holdings of COFS. Fourthstone LLC raised its position in shares of ChoiceOne Financial Services by 34.3% during the 4th quarter. Fourthstone LLC now owns 476,103 shares of the company's stock worth $16,968,000 after purchasing an additional 121,473 shares during the last quarter. Vanguard Group Inc. raised its position in shares of ChoiceOne Financial Services by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 438,579 shares of the company's stock worth $15,631,000 after purchasing an additional 36,909 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of ChoiceOne Financial Services by 0.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 224,304 shares of the company's stock worth $7,994,000 after purchasing an additional 890 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ChoiceOne Financial Services by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 188,103 shares of the company's stock worth $6,706,000 after purchasing an additional 761 shares during the last quarter. Finally, Jacobs Asset Management LLC raised its position in shares of ChoiceOne Financial Services by 149.9% during the 1st quarter. Jacobs Asset Management LLC now owns 156,159 shares of the company's stock worth $4,493,000 after purchasing an additional 93,659 shares during the last quarter. Hedge funds and other institutional investors own 19.90% of the company's stock.

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.