Brian Petty Sells 15,000 Shares of ChoiceOne Financial Services (NASDAQ:COFS) Stock

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Director Brian Petty sold 15,000 shares of ChoiceOne Financial Services stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $29.56, for a total transaction of $443,400.00. Following the sale, the director owned 91,107 shares in the company, valued at approximately $2,693,122.92. This represents a 14.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ChoiceOne Financial Services Price Performance

Shares of COFS opened at $28.76 on Friday. The business has a 50-day moving average of $29.76 and a 200-day moving average of $29.59. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market capitalization of $431.98 million, a price-to-earnings ratio of 19.17 and a beta of 0.58. ChoiceOne Financial Services, Inc. has a 1 year low of $24.89 and a 1 year high of $35.40.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its quarterly earnings data on Friday, January 30th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.01. The firm had revenue of $42.94 million during the quarter, compared to analyst estimates of $43.80 million. ChoiceOne Financial Services had a return on equity of 11.81% and a net margin of 12.38%. As a group, equities research analysts anticipate that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current year.

ChoiceOne Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $0.29 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.16 annualized dividend and a dividend yield of 4.0%. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.28. ChoiceOne Financial Services’s dividend payout ratio (DPR) is 77.33%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on COFS. Hovde Group downgraded shares of ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. Wall Street Zen lowered shares of ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of ChoiceOne Financial Services in a report on Wednesday, January 21st. Finally, DA Davidson restated a “buy” rating and issued a $36.00 target price on shares of ChoiceOne Financial Services in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.50.

Institutional Trading of ChoiceOne Financial Services

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of ChoiceOne Financial Services by 70.4% in the second quarter. Geode Capital Management LLC now owns 324,220 shares of the company’s stock worth $9,307,000 after acquiring an additional 133,999 shares during the period. ProShare Advisors LLC purchased a new stake in ChoiceOne Financial Services during the 2nd quarter worth about $5,973,000. Squarepoint Ops LLC boosted its stake in ChoiceOne Financial Services by 128.1% in the 2nd 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 period. CWM LLC grew its holdings in ChoiceOne Financial Services by 6.0% during the 2nd quarter. CWM LLC now owns 8,223 shares of the company’s stock valued at $236,000 after buying an additional 466 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of ChoiceOne Financial Services by 155.8% during the fourth quarter. LPL Financial LLC now owns 53,319 shares of the company’s stock valued at $1,574,000 after buying an additional 32,472 shares during the period. 19.90% of the stock is currently owned by institutional investors.

ChoiceOne Financial Services Company Profile

ChoiceOne Financial Services, Inc is a bank holding company headquartered in Jackson, Michigan. Through its subsidiary, ChoiceOne Bank, it provides a full suite of banking and financial services to individuals, families, and businesses. The company’s primary operations are concentrated in community banking, spanning retail deposits, commercial and consumer lending, mortgage origination, and treasury management solutions.

ChoiceOne Bank offers checking and savings accounts, certificates of deposit, and online and mobile banking platforms designed to meet the needs of its customers.