Short Interest in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Drops By 7.3%

ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Get Free Report) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 113,300 shares, a decrease of 7.3% from the March 15th total of 122,200 shares. Currently, 1.7% of the company's stock are sold short. Based on an average daily trading volume, of 13,500 shares, the days-to-cover ratio is presently 8.4 days.

ChoiceOne Financial Services Stock Up 3.0 %

ChoiceOne Financial Services stock traded up $0.68 during trading on Tuesday, hitting $23.39. 5,943 shares of the company were exchanged, compared to its average volume of 13,909. The business's 50 day moving average is $25.97 and its 200 day moving average is $25.13. ChoiceOne Financial Services has a 52 week low of $15.84 and a 52 week high of $32.14. The company has a market capitalization of $176.83 million, a P/E ratio of 8.05 and a beta of 0.65. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 1.20.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. ChoiceOne Financial Services had a return on equity of 11.73% and a net margin of 18.67%. The business had revenue of $20.60 million during the quarter, compared to the consensus estimate of $20.10 million. Analysts predict that ChoiceOne Financial Services will post 2.9 earnings per share for the current year.

ChoiceOne Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.27 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.08 dividend on an annualized basis and a yield of 4.62%. ChoiceOne Financial Services's dividend payout ratio (DPR) is presently 38.30%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of COFS. BlackRock Inc. grew its stake in ChoiceOne Financial Services by 876.8% in the 2nd quarter. BlackRock Inc. now owns 339,785 shares of the company's stock valued at $7,815,000 after purchasing an additional 304,999 shares during the period. Geode Capital Management LLC grew its stake in ChoiceOne Financial Services by 124.2% in the 2nd quarter. Geode Capital Management LLC now owns 130,860 shares of the company's stock valued at $3,010,000 after purchasing an additional 72,490 shares during the period. State Street Corp grew its stake in ChoiceOne Financial Services by 253.5% in the 2nd quarter. State Street Corp now owns 77,846 shares of the company's stock valued at $1,790,000 after purchasing an additional 55,823 shares during the period. Cerity Partners LLC bought a new position in ChoiceOne Financial Services in the 4th quarter valued at $1,351,000. Finally, Northern Trust Corp lifted its position in shares of ChoiceOne Financial Services by 353.2% during the 2nd quarter. Northern Trust Corp now owns 56,588 shares of the company's stock valued at $1,302,000 after buying an additional 44,102 shares during the last quarter. 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.