ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Down 32.6% in February

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) saw a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 124,822 shares, a decrease of 32.6% from the January 29th total of 185,187 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily volume of 76,333 shares, the short-interest ratio is presently 1.6 days. Based on an average daily volume of 76,333 shares, the short-interest ratio is presently 1.6 days. Approximately 0.9% of the company’s shares are short sold.

ChoiceOne Financial Services Stock Up 3.7%

NASDAQ:COFS traded up $1.05 during trading hours on Monday, hitting $29.67. The company’s stock had a trading volume of 76,032 shares, compared to its average volume of 85,072. The stock has a market capitalization of $445.64 million, a P/E ratio of 19.78 and a beta of 0.58. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average of $29.24 and a 200-day moving average of $29.58. ChoiceOne Financial Services has a 52-week low of $24.89 and a 52-week high of $35.40.

ChoiceOne Financial Services (NASDAQ:COFS) last released its quarterly earnings results on Friday, January 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. ChoiceOne Financial Services had a return on equity of 11.81% and a net margin of 12.38%.The firm had revenue of $42.94 million for the quarter, compared to the consensus estimate of $43.80 million. On average, equities analysts forecast that ChoiceOne Financial Services will post 3.67 earnings per share for the current year.

ChoiceOne Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, March 13th. ChoiceOne Financial Services’s payout ratio is currently 77.33%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other ChoiceOne Financial Services news, Director Brian P. Petty sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $29.56, for a total value of $443,400.00. Following the completion of the transaction, the director directly owned 91,107 shares in the company, valued at approximately $2,693,122.92. The trade was a 14.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory A. Mcconnell acquired 1,550 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was purchased at an average cost of $29.04 per share, for a total transaction of $45,012.00. Following the transaction, the director owned 35,950 shares in the company, valued at approximately $1,043,988. The trade was a 4.51% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 5.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ChoiceOne Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in ChoiceOne Financial Services during the 3rd quarter worth approximately $32,000. Legal & General Group Plc raised its stake in shares of ChoiceOne Financial Services by 74.6% in the 2nd quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock valued at $37,000 after acquiring an additional 554 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of ChoiceOne Financial Services by 153.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,461 shares of the company’s stock valued at $42,000 after acquiring an additional 884 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in ChoiceOne Financial Services during the 3rd quarter worth $46,000. Finally, Tower Research Capital LLC TRC increased its holdings in 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. 19.90% of the stock is currently owned by hedge funds and other 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.