Fourthstone LLC Acquires 121,473 Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Fourthstone LLC increased its position in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) by 34.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 476,103 shares of the company's stock after buying an additional 121,473 shares during the period. ChoiceOne Financial Services accounts for 3.3% of Fourthstone LLC's holdings, making the stock its 9th biggest position. Fourthstone LLC owned about 5.31% of ChoiceOne Financial Services worth $16,968,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Globeflex Capital L P acquired a new stake in shares of ChoiceOne Financial Services during the 4th quarter valued at about $107,000. SG Americas Securities LLC purchased a new stake in shares of ChoiceOne Financial Services in the fourth quarter valued at approximately $123,000. Wells Fargo & Company MN raised its stake in shares of ChoiceOne Financial Services by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 4,891 shares of the company's stock worth $174,000 after buying an additional 1,065 shares during the period. Trexquant Investment LP purchased a new position in shares of ChoiceOne Financial Services during the 4th quarter valued at approximately $268,000. Finally, Rhumbline Advisers grew its stake in ChoiceOne Financial Services by 8.1% in the 4th quarter. Rhumbline Advisers now owns 8,165 shares of the company's stock valued at $291,000 after acquiring an additional 611 shares during the period. Institutional investors and hedge funds own 19.90% of the company's stock.

ChoiceOne Financial Services Price Performance

COFS traded up $0.39 on Friday, hitting $26.39. 59,741 shares of the company's stock were exchanged, compared to its average volume of 30,411. ChoiceOne Financial Services, Inc. has a fifty-two week low of $23.12 and a fifty-two week high of $38.15. The stock has a market cap of $236.69 million, a price-to-earnings ratio of 8.10 and a beta of 0.61. The firm has a 50-day moving average price of $29.17 and a 200-day moving average price of $32.52. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.99.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.01. ChoiceOne Financial Services had a net margin of 19.21% and a return on equity of 12.44%. As a group, equities analysts anticipate that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current year.

ChoiceOne Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Friday, March 14th. ChoiceOne Financial Services's dividend payout ratio (DPR) is presently 34.36%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COFS. DA Davidson reduced their price objective on shares of ChoiceOne Financial Services from $41.00 to $39.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Hovde Group started coverage on shares of ChoiceOne Financial Services in a research note on Monday, March 10th. They issued an "outperform" rating and a $35.00 price target on the stock. Finally, Janney Montgomery Scott upgraded ChoiceOne Financial Services from a "neutral" rating to a "buy" rating in a research note on Monday, March 3rd.

ChoiceOne Financial Services 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.