Geode Capital Management LLC Acquires 32,725 Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Geode Capital Management LLC grew its position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Free Report) by 21.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,342 shares of the company's stock after buying an additional 32,725 shares during the quarter. Geode Capital Management LLC owned approximately 2.09% of ChoiceOne Financial Services worth $5,792,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Fourthstone LLC purchased a new stake in shares of ChoiceOne Financial Services in the 3rd quarter valued at approximately $10,962,000. The Manufacturers Life Insurance Company purchased a new stake in shares of ChoiceOne Financial Services in the third quarter valued at $6,906,000. Zacks Investment Management acquired a new stake in shares of ChoiceOne Financial Services in the third quarter worth $3,625,000. Jacobs Asset Management LLC purchased a new position in shares of ChoiceOne Financial Services during the third quarter valued at $3,091,000. Finally, State Street Corp raised its position in ChoiceOne Financial Services by 6.8% during the third quarter. State Street Corp now owns 97,095 shares of the company's stock valued at $3,001,000 after buying an additional 6,209 shares during the period. 19.90% of the stock is owned by hedge funds and other institutional investors.

ChoiceOne Financial Services Stock Up 1.3 %

Shares of ChoiceOne Financial Services stock traded up $0.46 on Friday, hitting $35.10. 24,489 shares of the company traded hands, compared to its average volume of 29,744. ChoiceOne Financial Services, Inc. has a 12-month low of $21.52 and a 12-month high of $38.15. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.99. The company has a market cap of $314.43 million, a PE ratio of 11.07 and a beta of 0.71. The company has a 50-day moving average price of $35.75 and a 200 day moving average price of $31.39.

ChoiceOne Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.28 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.12 dividend on an annualized basis and a yield of 3.19%. This is an increase from ChoiceOne Financial Services's previous quarterly dividend of $0.27. ChoiceOne Financial Services's dividend payout ratio is currently 35.33%.

Analysts Set New Price Targets

Separately, DA Davidson assumed 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.

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.