Vanguard Group Inc. lifted its position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 438,579 shares of the company's stock after buying an additional 36,909 shares during the period. Vanguard Group Inc. owned about 4.89% of ChoiceOne Financial Services worth $15,631,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of ChoiceOne Financial Services by 21.2% during the third quarter. Geode Capital Management LLC now owns 187,342 shares of the company's stock worth $5,792,000 after buying an additional 32,725 shares during the period. State Street Corp lifted its stake in ChoiceOne Financial Services by 6.8% in the 3rd quarter. State Street Corp now owns 97,095 shares of the company's stock valued at $3,001,000 after acquiring an additional 6,209 shares in the last quarter. American Century Companies Inc. lifted its stake in ChoiceOne Financial Services by 401.9% in the 4th quarter. American Century Companies Inc. now owns 69,842 shares of the company's stock valued at $2,489,000 after acquiring an additional 55,926 shares in the last quarter. Empowered Funds LLC lifted its stake in ChoiceOne Financial Services by 4.9% in the 4th quarter. Empowered Funds LLC now owns 28,389 shares of the company's stock valued at $1,012,000 after acquiring an additional 1,329 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in ChoiceOne Financial Services by 33.0% in the 4th quarter. Bank of New York Mellon Corp now owns 27,882 shares of the company's stock valued at $994,000 after acquiring an additional 6,921 shares in the last quarter. Institutional investors own 19.90% of the company's stock.
ChoiceOne Financial Services Stock Up 2.6 %
Shares of ChoiceOne Financial Services stock traded up $0.70 on Wednesday, reaching $27.73. 9,759 shares of the company were exchanged, compared to its average volume of 30,923. ChoiceOne Financial Services, Inc. has a one year low of $23.12 and a one year high of $38.15. The company has a 50-day moving average of $28.92 and a 200 day moving average of $32.48. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $248.71 million, a price-to-earnings ratio of 8.51 and a beta of 0.61.
ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. On average, equities research analysts forecast that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current year.
ChoiceOne Financial Services Announces Dividend
The firm also recently declared 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 4.04%. The ex-dividend date of this dividend was Friday, March 14th. ChoiceOne Financial Services's dividend payout ratio (DPR) is presently 34.36%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. DA Davidson cut their target price on ChoiceOne Financial Services from $41.00 to $39.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Hovde Group began coverage on ChoiceOne Financial Services in a research note on Monday, March 10th. They issued an "outperform" rating and a $35.00 target price on the stock. Finally, Janney Montgomery Scott upgraded ChoiceOne Financial Services from a "neutral" rating to a "buy" rating in a research note on Monday, March 3rd.
View Our Latest Report on COFS
ChoiceOne Financial Services Company Profile
(
Free Report)
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.
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