Renaissance Technologies LLC Purchases 20,600 Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Renaissance Technologies LLC boosted its holdings in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) by 71.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,500 shares of the company's stock after acquiring an additional 20,600 shares during the quarter. Renaissance Technologies LLC owned 0.55% of ChoiceOne Financial Services worth $1,764,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of COFS. Invesco Ltd. grew its position in ChoiceOne Financial Services by 3.5% during the fourth quarter. Invesco Ltd. now owns 14,204 shares of the company's stock valued at $506,000 after purchasing an additional 483 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of ChoiceOne Financial Services by 8.1% during the 4th 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. Geode Capital Management LLC increased its stake in shares of ChoiceOne Financial Services by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 188,103 shares of the company's stock worth $6,706,000 after acquiring an additional 761 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of ChoiceOne Financial Services by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 4,891 shares of the company's stock worth $174,000 after acquiring an additional 1,065 shares in the last quarter. Finally, LPL Financial LLC boosted its position in ChoiceOne Financial Services by 5.6% during the fourth quarter. LPL Financial LLC now owns 20,156 shares of the company's stock valued at $718,000 after purchasing 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 Stock Performance

ChoiceOne Financial Services stock traded up $0.40 on Thursday, reaching $28.83. 42,189 shares of the stock were exchanged, compared to its average volume of 32,152. The stock has a market cap of $258.58 million, a PE ratio of 8.84 and a beta of 0.61. The firm has a fifty day moving average price of $28.36 and a two-hundred day moving average price of $32.39. ChoiceOne Financial Services, Inc. has a twelve month low of $23.71 and a twelve month high of $38.15. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.99.

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

ChoiceOne Financial Services Dividend Announcement

The business also recently declared 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 was Friday, March 14th. This represents a $1.12 annualized dividend and a yield of 3.88%. ChoiceOne Financial Services's dividend payout ratio is 34.36%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Janney Montgomery Scott raised ChoiceOne Financial Services from a "neutral" rating to a "buy" rating in a research report on Monday, March 3rd. Hovde Group started coverage on shares of ChoiceOne Financial Services in a research note on Monday, March 10th. They issued an "outperform" rating and a $35.00 target price for the company. Finally, DA Davidson decreased their target price on shares of 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.

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.