Wall Street Zen Upgrades ChoiceOne Financial Services (NASDAQ:COFS) to "Buy"

Key Points

• Wall Street Zen has upgraded ChoiceOne Financial Services from a "hold" rating to a "buy" rating, indicating increased optimism about the stock.
• Analysts have a consensus rating of "Moderate Buy" for ChoiceOne Financial Services, with an average price target of $37.00.
• Shares of ChoiceOne Financial Services rose 11.5%, reflecting positive market sentiment following the upgrade and analysts' commentary.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Several other equities analysts also recently commented on COFS. Weiss Ratings restated a "hold (c)" rating on shares of ChoiceOne Financial Services in a research note on Friday. Zacks Research raised shares of ChoiceOne Financial Services from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ChoiceOne Financial Services currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

ChoiceOne Financial Services Trading Up 11.5%

Shares of COFS stock opened at $30.59 on Friday. The company has a market capitalization of $459.46 million, a PE ratio of 24.28 and a beta of 0.55. The firm has a 50 day moving average price of $29.36 and a two-hundred day moving average price of $29.02. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. ChoiceOne Financial Services has a 12-month low of $24.89 and a 12-month high of $38.15.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.60 EPS for the quarter. The firm had revenue of $20.17 million for the quarter. ChoiceOne Financial Services had a return on equity of 11.26% and a net margin of 7.95%. As a group, analysts predict that ChoiceOne Financial Services will post 3.67 earnings per share for the current year.

Institutional Trading of ChoiceOne Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. boosted its position in shares of ChoiceOne Financial Services by 227.7% during the 2nd quarter. Osaic Holdings Inc. now owns 11,513 shares of the company's stock worth $330,000 after acquiring an additional 8,000 shares in the last quarter. Squarepoint Ops LLC lifted its stake in ChoiceOne Financial Services by 128.1% during the second quarter. Squarepoint Ops LLC now owns 34,301 shares of the company's stock worth $984,000 after purchasing an additional 19,263 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of ChoiceOne Financial Services by 617.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company's stock valued at $65,000 after purchasing an additional 1,945 shares in the last quarter. Curi Capital LLC increased its stake in shares of ChoiceOne Financial Services by 0.7% in the 2nd quarter. Curi Capital LLC now owns 51,537 shares of the company's stock valued at $1,479,000 after purchasing an additional 337 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in shares of ChoiceOne Financial Services by 5.1% during the 2nd quarter. Bridgeway Capital Management LLC now owns 62,221 shares of the company's stock worth $1,786,000 after buying an additional 3,020 shares in 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.

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