ChoiceOne Financial Services (NASDAQ:COFS) Upgraded at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of ChoiceOne Financial Services (NASDAQ:COFS) from a neutral rating to a buy rating in a research note released on Monday, MarketBeat reports.

Separately, DA Davidson dropped their price target 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.

ChoiceOne Financial Services Stock Down 1.4 %

COFS opened at $30.91 on Monday. The business’s 50-day simple moving average is $33.52 and its 200-day simple moving average is $33.11. 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 stock has a market capitalization of $276.89 million, a P/E ratio of 9.48 and a beta of 0.71.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its earnings results on Wednesday, January 22nd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 year.

ChoiceOne Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Friday, March 14th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 34.36%.

Hedge Funds Weigh In On ChoiceOne Financial Services

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in ChoiceOne Financial Services by 21.2% in the 3rd quarter. Geode Capital Management LLC now owns 187,342 shares of the company’s stock valued at $5,792,000 after acquiring an additional 32,725 shares during the period. Empowered Funds LLC boosted its holdings in ChoiceOne Financial Services by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock valued at $836,000 after purchasing an additional 1,340 shares in the last quarter. Curi RMB Capital LLC purchased a new stake in ChoiceOne Financial Services in the 3rd quarter valued at approximately $2,192,000. State Street Corp boosted its holdings in ChoiceOne Financial Services by 6.8% in the 3rd quarter. State Street Corp now owns 97,095 shares of the company’s stock valued at $3,001,000 after purchasing an additional 6,209 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in ChoiceOne Financial Services in the 4th quarter valued at approximately $123,000. Institutional investors and hedge funds own 19.90% of the company’s stock.

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.