ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Update

ChoiceOne Financial Services, Inc. (NASDAQ:COFS - Get Free Report) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 76,700 shares, a decline of 86.1% from the February 28th total of 550,200 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 36,600 shares, the short-interest ratio is presently 2.1 days.

ChoiceOne Financial Services Stock Down 1.5 %

COFS traded down $0.45 on Friday, reaching $28.76. 145,217 shares of the company traded hands, compared to its average volume of 27,080. ChoiceOne Financial Services has a 52-week low of $21.52 and a 52-week high of $38.15. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market cap of $257.95 million, a price-to-earnings ratio of 8.82 and a beta of 0.72. The stock's 50 day moving average price is $31.68 and its 200-day moving average price is $33.04.

ChoiceOne Financial Services (NASDAQ:COFS - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The company reported $0.83 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%. On average, sell-side analysts expect that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

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ChoiceOne Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Friday, March 14th. ChoiceOne Financial Services's payout ratio is 34.36%.

Institutional Investors Weigh In On ChoiceOne Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in COFS. Mattson Financial Services LLC grew its stake in ChoiceOne Financial Services by 58.0% in the 4th 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 last quarter. Globeflex Capital L P bought a new position in ChoiceOne Financial Services during the fourth quarter worth $107,000. SG Americas Securities LLC acquired a new position in ChoiceOne Financial Services during the 4th quarter valued at $123,000. Wells Fargo & Company MN raised its stake in ChoiceOne Financial Services by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 4,891 shares of the company's stock valued at $174,000 after purchasing an additional 1,065 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in ChoiceOne Financial Services in the 4th quarter worth $260,000. 19.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COFS. DA Davidson decreased their target price 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. Hovde Group started coverage on ChoiceOne Financial Services in a report on Monday, March 10th. They set an "outperform" rating and a $35.00 price objective on the stock. Finally, Janney Montgomery Scott upgraded shares of ChoiceOne Financial Services from a "neutral" rating to a "buy" rating in a report on Monday, March 3rd.

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.