ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Shares Sold by Jacobs Asset Management LLC

Jacobs Asset Management LLC reduced its position in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) by 37.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,500 shares of the company's stock after selling 37,500 shares during the period. ChoiceOne Financial Services makes up approximately 1.3% of Jacobs Asset Management LLC's portfolio, making the stock its 21st largest position. Jacobs Asset Management LLC owned about 0.70% of ChoiceOne Financial Services worth $2,228,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fourthstone LLC boosted 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 in the last quarter. American Century Companies Inc. lifted its stake in shares of ChoiceOne Financial Services by 401.9% in the fourth quarter. American Century Companies Inc. now owns 69,842 shares of the company's stock valued at $2,489,000 after purchasing an additional 55,926 shares during the period. Vanguard Group Inc. boosted its holdings in ChoiceOne Financial Services by 9.2% during the fourth quarter. Vanguard Group Inc. now owns 438,579 shares of the company's stock worth $15,631,000 after buying an additional 36,909 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in ChoiceOne Financial Services by 73.1% during the fourth quarter. Segall Bryant & Hamill LLC now owns 61,219 shares of the company's stock worth $2,182,000 after buying an additional 25,846 shares during the period. Finally, Renaissance Technologies LLC grew its position in ChoiceOne Financial Services by 71.3% during the fourth quarter. Renaissance Technologies LLC now owns 49,500 shares of the company's stock worth $1,764,000 after buying an additional 20,600 shares during the period. Institutional investors and hedge funds own 19.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. 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. Hovde Group initiated coverage on ChoiceOne Financial Services in a research note on Monday, March 10th. They issued an "outperform" rating and a $35.00 price objective for the company. Finally, DA Davidson decreased their target price on ChoiceOne Financial Services from $41.00 to $39.00 and set a "buy" rating on the stock in a research report on Monday, January 27th.

ChoiceOne Financial Services Price Performance

NASDAQ COFS traded up $0.23 during trading hours on Friday, reaching $30.38. The company's stock had a trading volume of 131,497 shares, compared to its average volume of 34,795. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. The company's 50-day moving average is $27.93 and its two-hundred day moving average is $32.20. ChoiceOne Financial Services, Inc. has a fifty-two week low of $23.71 and a fifty-two week high of $38.15. The stock has a market cap of $272.48 million, a PE ratio of 9.32 and a beta of 0.56.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last announced its quarterly 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 company had revenue of $31.23 million for the quarter, compared to the consensus estimate of $29.70 million. ChoiceOne Financial Services had a net margin of 19.21% and a return on equity of 12.44%. Analysts forecast that ChoiceOne Financial Services, Inc. will post 3.67 EPS for the current year.

ChoiceOne Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Friday, March 14th. ChoiceOne Financial Services's payout ratio is currently 91.06%.

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.