JPMorgan Chase & Co. Raises Stock Position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

JPMorgan Chase & Co. grew its position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) by 172.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,698 shares of the company's stock after acquiring an additional 18,811 shares during the quarter. JPMorgan Chase & Co. owned about 0.33% of ChoiceOne Financial Services worth $1,058,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Globeflex Capital L P purchased a new position in shares of ChoiceOne Financial Services in the fourth quarter valued at approximately $107,000. SG Americas Securities LLC purchased a new position in shares of ChoiceOne Financial Services in the fourth quarter valued at approximately $123,000. Rhumbline Advisers lifted its position in shares of ChoiceOne Financial Services by 8.1% in the fourth quarter. Rhumbline Advisers now owns 8,165 shares of the company's stock valued at $291,000 after acquiring an additional 611 shares in the last quarter. Barclays PLC lifted its position in ChoiceOne Financial Services by 173.3% during the third quarter. Barclays PLC now owns 13,347 shares of the company's stock worth $412,000 after buying an additional 8,463 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in ChoiceOne Financial Services by 5.6% during the fourth quarter. LPL Financial LLC now owns 20,156 shares of the company's stock worth $718,000 after buying an additional 1,077 shares during the last quarter. Hedge funds and other institutional investors own 19.90% of the company's stock.

ChoiceOne Financial Services Trading Up 1.4 %

Shares of COFS stock traded up $0.41 on Thursday, hitting $28.84. 38,587 shares of the stock traded hands, compared to its average volume of 32,137. The firm's 50-day moving average price is $28.36 and its two-hundred day moving average price is $32.39. 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 stock has a market capitalization of $258.67 million, a PE ratio of 8.85 and a beta of 0.61. ChoiceOne Financial Services, Inc. has a twelve month low of $23.71 and a twelve month high of $38.15.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. ChoiceOne Financial Services had a net margin of 19.21% and a return on equity of 12.44%. The company had revenue of $31.23 million for the quarter, compared to analysts' expectations of $29.70 million. As a group, analysts anticipate that ChoiceOne Financial Services, Inc. will post 3.67 EPS for the current year.

ChoiceOne Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.12 dividend on an annualized basis and a yield of 3.88%. ChoiceOne Financial Services's payout ratio is currently 34.36%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COFS. Janney Montgomery Scott upgraded ChoiceOne Financial Services from a "neutral" rating to a "buy" rating in a report on Monday, March 3rd. DA Davidson lowered their price target on shares of 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. Finally, Hovde Group assumed 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 target on the stock.

ChoiceOne Financial Services Company 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.