ChoiceOne Financial Services (NASDAQ:COFS) Coverage Initiated by Analysts at Hovde Group

Equities research analysts at Hovde Group initiated coverage on shares of ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set an "outperform" rating and a $35.00 price target on the stock. Hovde Group's target price points to a potential upside of 22.72% from the company's previous close.

Other equities analysts have also recently issued research reports about the stock. Janney Montgomery Scott upgraded shares of ChoiceOne Financial Services from a "neutral" rating to a "buy" rating in a research report on Monday, March 3rd. DA Davidson reduced their price target on ChoiceOne Financial Services from $41.00 to $39.00 and set a "buy" rating on the stock in a report on Monday, January 27th.

ChoiceOne Financial Services Trading Down 2.0 %

COFS stock traded down $0.59 during trading on Monday, hitting $28.52. 54,838 shares of the company traded hands, compared to its average volume of 35,149. The company has a 50-day moving average of $32.92 and a 200-day moving average of $33.17. 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 1 year low of $21.52 and a 1 year high of $38.15. The firm has a market capitalization of $255.48 million, a PE ratio of 8.75 and a beta of 0.72.

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ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. ChoiceOne Financial Services had a net margin of 19.21% and a return on equity of 12.44%. Analysts predict that ChoiceOne Financial Services will post 3.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ChoiceOne Financial Services

Institutional investors and hedge funds have recently modified their holdings of the stock. Mattson Financial Services LLC increased its position in shares of ChoiceOne Financial Services by 58.0% during the fourth quarter. Mattson Financial Services LLC now owns 2,575 shares of the company's stock valued at $92,000 after buying an additional 945 shares during the period. Globeflex Capital L P bought a new stake in ChoiceOne Financial Services during the 4th quarter valued at approximately $107,000. SG Americas Securities LLC purchased a new position in shares of ChoiceOne Financial Services during the 4th quarter worth approximately $123,000. Wells Fargo & Company MN raised its position in shares of ChoiceOne Financial Services by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 4,891 shares of the company's stock worth $174,000 after acquiring an additional 1,065 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of ChoiceOne Financial Services in the 4th quarter valued at approximately $260,000. 19.90% of the stock is owned by hedge funds and other institutional investors.

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.