ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Up 25.4% in October

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 266,000 shares, an increase of 25.4% from the October 15th total of 212,100 shares. Based on an average daily volume of 37,300 shares, the days-to-cover ratio is presently 7.1 days.

Institutional Trading of ChoiceOne Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Curi RMB Capital LLC acquired a new position in shares of ChoiceOne Financial Services during the 3rd quarter worth $2,192,000. Vanguard Group Inc. lifted its position in shares of ChoiceOne Financial Services by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 350,690 shares of the company’s stock valued at $9,591,000 after acquiring an additional 2,871 shares during the period. Mattson Financial Services LLC bought a new position in shares of ChoiceOne Financial Services during the 2nd quarter worth about $47,000. Bank of New York Mellon Corp raised its position in shares of ChoiceOne Financial Services by 7.0% during the second quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock worth $622,000 after purchasing an additional 1,425 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of ChoiceOne Financial Services by 7.9% during the first quarter. Empowered Funds LLC now owns 23,920 shares of the company’s stock valued at $654,000 after buying an additional 1,750 shares during the last quarter. Institutional investors own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson started coverage on ChoiceOne Financial Services in a report on Friday, October 18th. They set a “buy” rating and a $37.00 price target for the company.

ChoiceOne Financial Services Stock Down 0.1 %

NASDAQ COFS traded down $0.05 on Friday, reaching $35.54. The company had a trading volume of 33,768 shares, compared to its average volume of 36,809. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.72 and a current ratio of 0.74. The firm has a market capitalization of $318.44 million, a price-to-earnings ratio of 11.21 and a beta of 0.69. The company’s fifty day moving average is $31.82 and its 200-day moving average is $28.80. ChoiceOne Financial Services has a 1-year low of $21.52 and a 1-year high of $37.00.

ChoiceOne Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Friday, September 13th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is currently 34.07%.

About ChoiceOne Financial Services

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.