ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Get Free Report) was the target of a significant increase in short interest in 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 trading volume of 37,300 shares, the short-interest ratio is presently 7.1 days.
ChoiceOne Financial Services Stock Down 0.1 %
Shares of COFS stock traded down $0.05 on Friday, hitting $35.54. The company's stock had a trading volume of 33,768 shares, compared to its average volume of 36,809. ChoiceOne Financial Services has a fifty-two week low of $21.52 and a fifty-two week high of $37.00. The firm's fifty day moving average price is $31.82 and its 200-day moving average price is $28.80. The stock has a market capitalization of $318.44 million, a price-to-earnings ratio of 11.21 and a beta of 0.69. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.74 and a quick ratio of 0.72.
ChoiceOne Financial Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.27 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.08 annualized dividend and a dividend yield of 3.04%. ChoiceOne Financial Services's payout ratio is 34.07%.
Institutional Trading of ChoiceOne Financial Services
Several hedge funds and other institutional investors have recently bought and sold shares of COFS. Geode Capital Management LLC lifted its stake in ChoiceOne Financial Services by 21.2% during the third quarter. Geode Capital Management LLC now owns 187,342 shares of the company's stock worth $5,792,000 after purchasing an additional 32,725 shares during the period. Barclays PLC boosted its stake in shares of ChoiceOne Financial Services by 173.3% in the 3rd quarter. Barclays PLC now owns 13,347 shares of the company's stock valued at $412,000 after purchasing an additional 8,463 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of ChoiceOne Financial Services during the 3rd quarter worth about $3,625,000. State Street Corp increased its holdings in ChoiceOne Financial Services by 6.8% during 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, Jacobs Asset Management LLC bought a new position in ChoiceOne Financial Services in the 3rd quarter valued at $3,091,000. 19.90% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, DA Davidson began coverage on shares of ChoiceOne Financial Services in a research report on Friday, October 18th. They issued a "buy" rating and a $37.00 price target for the company.
Get Our Latest Research Report on COFS
About ChoiceOne Financial Services
(
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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.
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