ChoiceOne Financial Services (NASDAQ:COFS) Now Covered by Analysts at Hovde Group

Hovde Group began coverage on shares of ChoiceOne Financial Services (NASDAQ:COFS) in a research report report published on Monday, MarketBeat reports. The firm issued an outperform rating and a $35.00 price target on the stock.

Several other analysts also recently issued reports on the company. DA Davidson reduced their price objective on ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Janney Montgomery Scott upgraded ChoiceOne Financial Services from a “neutral” rating to a “buy” rating in a research report on Monday, March 3rd.

ChoiceOne Financial Services Stock Up 0.1 %

COFS opened at $29.11 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. ChoiceOne Financial Services has a one year low of $21.52 and a one year high of $38.15. The business’s fifty day moving average is $32.92 and its two-hundred day moving average is $33.17. The company has a market cap of $260.77 million, a price-to-earnings ratio of 8.93 and a beta of 0.72.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. Analysts anticipate that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

ChoiceOne Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.28 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.12 annualized dividend and a yield of 3.85%. ChoiceOne Financial Services’s payout ratio is currently 34.36%.

Hedge Funds Weigh In On ChoiceOne Financial Services

Institutional investors have recently added to or reduced their stakes in the business. Mattson Financial Services LLC increased its stake in ChoiceOne Financial Services by 58.0% during the fourth quarter. Mattson Financial Services LLC now owns 2,575 shares of the company’s stock worth $92,000 after acquiring an additional 945 shares during the last quarter. Squarepoint Ops LLC increased its stake in ChoiceOne Financial Services by 19.1% during the fourth quarter. Squarepoint Ops LLC now owns 19,457 shares of the company’s stock worth $693,000 after acquiring an additional 3,127 shares during the last quarter. Deutsche Bank AG increased its stake in ChoiceOne Financial Services by 108.1% during the fourth quarter. Deutsche Bank AG now owns 8,457 shares of the company’s stock worth $301,000 after acquiring an additional 4,393 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in ChoiceOne Financial Services by 2.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 56,889 shares of the company’s stock worth $2,028,000 after acquiring an additional 1,329 shares during the last quarter. Finally, Citadel Advisors LLC increased its stake in ChoiceOne Financial Services by 10.6% during the fourth quarter. Citadel Advisors LLC now owns 24,286 shares of the company’s stock worth $866,000 after acquiring an additional 2,321 shares during the last quarter. 19.90% of the stock is currently owned by institutional investors and hedge funds.

ChoiceOne Financial Services Company 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.