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

Renaissance Technologies LLC lifted its position in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) by 71.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,500 shares of the company's stock after buying an additional 20,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.55% of ChoiceOne Financial Services worth $1,764,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Globeflex Capital L P purchased a new stake in shares of ChoiceOne Financial Services during the fourth quarter worth about $107,000. SG Americas Securities LLC bought a new stake in shares of ChoiceOne Financial Services during the fourth quarter valued at approximately $123,000. Wells Fargo & Company MN lifted its holdings in shares of ChoiceOne Financial Services by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 4,891 shares of the company's stock worth $174,000 after buying an additional 1,065 shares in the last quarter. Trexquant Investment LP bought a new position in shares of ChoiceOne Financial Services during the fourth quarter worth $268,000. Finally, Rhumbline Advisers grew its stake in ChoiceOne Financial Services by 8.1% during 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. Institutional investors own 19.90% of the company's stock.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ:COFS traded up $0.47 on Friday, reaching $29.23. The company's stock had a trading volume of 7,600 shares, compared to its average volume of 32,263. The company has a 50-day simple moving average of $28.30 and a 200 day simple moving average of $32.38. ChoiceOne Financial Services, Inc. has a 52-week low of $23.71 and a 52-week high of $38.15. 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 has a market cap of $262.12 million, a P/E ratio of 8.96 and a beta of 0.61.

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

ChoiceOne Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.12 annualized dividend and a dividend yield of 3.83%. ChoiceOne Financial Services's dividend payout ratio (DPR) is presently 34.36%.

Analyst Upgrades and Downgrades

Several brokerages have commented on COFS. Hovde Group assumed coverage on shares of ChoiceOne Financial Services in a research note on Monday, March 10th. They issued an "outperform" rating and a $35.00 price target on the stock. Janney Montgomery Scott raised ChoiceOne Financial Services from a "neutral" rating to a "buy" rating in a research note on Monday, March 3rd. Finally, DA Davidson cut their price target on ChoiceOne Financial Services from $41.00 to $39.00 and set a "buy" rating for the company in a report on Monday, January 27th.

ChoiceOne Financial Services 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.