ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Declares $0.29 Quarterly Dividend

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) announced a quarterly dividend on Wednesday, August 26th. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.29 per share on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, September 15th.

ChoiceOne Financial Services has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 13 consecutive years. ChoiceOne Financial Services has a payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect ChoiceOne Financial Services to earn $3.72 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 31.2%.

ChoiceOne Financial Services Trading Up 1.0%

Shares of NASDAQ COFS opened at $33.56 on Thursday. ChoiceOne Financial Services has a 1-year low of $26.09 and a 1-year high of $35.40. The company has a 50-day moving average of $33.59 and a two-hundred day moving average of $31.17. The company has a market cap of $502.06 million, a PE ratio of 9.25 and a beta of 0.60. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.71.

ChoiceOne Financial Services (NASDAQ:COFS) last released its quarterly earnings results on Friday, July 24th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.05). The company had revenue of $41.64 million for the quarter, compared to the consensus estimate of $43.45 million. ChoiceOne Financial Services had a net margin of 22.77% and a return on equity of 12.04%. As a group, equities analysts expect that ChoiceOne Financial Services will post 3.63 earnings per share for the current fiscal year.

About ChoiceOne Financial Services

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.