ChoiceOne Financial Services (NASDAQ:COFS) Upgraded by Janney Montgomery Scott to "Buy" Rating

Janney Montgomery Scott upgraded shares of ChoiceOne Financial Services (NASDAQ:COFS - Free Report) from a neutral rating to a buy rating in a report released on Monday morning, Marketbeat Ratings reports.

Separately, DA Davidson lowered their target price on ChoiceOne Financial Services from $41.00 to $39.00 and set a "buy" rating for the company in a research note on Monday, January 27th.

ChoiceOne Financial Services Trading Down 0.1 %

Shares of NASDAQ COFS traded down $0.04 during trading on Monday, reaching $31.75. The stock had a trading volume of 83,188 shares, compared to its average volume of 30,412. ChoiceOne Financial Services has a fifty-two week low of $21.52 and a fifty-two week high of $38.15. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. The business's 50-day moving average price is $33.70 and its 200-day moving average price is $33.10. The company has a market cap of $284.42 million, a P/E ratio of 9.74 and a beta of 0.71.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.83 earnings per share for the quarter, beating 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%. On average, equities research analysts predict that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

ChoiceOne Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, March 14th. This represents a $1.12 annualized dividend and a yield of 3.53%. ChoiceOne Financial Services's payout ratio is 34.36%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in ChoiceOne Financial Services by 21.2% during the 3rd 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 in the last quarter. Empowered Funds LLC lifted its holdings in ChoiceOne Financial Services by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 27,060 shares of the company's stock worth $836,000 after buying an additional 1,340 shares during the last quarter. Curi RMB Capital LLC purchased a new stake in ChoiceOne Financial Services during the 3rd quarter worth about $2,192,000. State Street Corp lifted 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 worth $3,001,000 after buying an additional 6,209 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in ChoiceOne Financial Services during the 4th quarter worth about $123,000. 19.90% of the stock is owned by institutional investors and hedge funds.

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.