ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Down 7.3% in March

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 113,300 shares, a drop of 7.3% from the March 15th total of 122,200 shares. Based on an average daily volume of 13,500 shares, the short-interest ratio is currently 8.4 days. Approximately 1.7% of the shares of the stock are short sold.

ChoiceOne Financial Services Trading Up 0.4 %

Shares of COFS opened at $23.48 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.68 and a quick ratio of 0.67. The firm has a 50 day simple moving average of $25.86 and a 200-day simple moving average of $25.14. ChoiceOne Financial Services has a 1-year low of $15.84 and a 1-year high of $32.14. The stock has a market cap of $177.51 million, a price-to-earnings ratio of 8.33 and a beta of 0.65.

ChoiceOne Financial Services (NASDAQ:COFS) last released its earnings results on Wednesday, January 24th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.64 by $0.06. The firm had revenue of $20.60 million during the quarter, compared to analysts’ expectations of $20.10 million. ChoiceOne Financial Services had a net margin of 18.67% and a return on equity of 11.73%. Equities analysts forecast that ChoiceOne Financial Services will post 2.9 EPS for the current fiscal year.

ChoiceOne Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.27 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.08 annualized dividend and a yield of 4.60%. ChoiceOne Financial Services’s payout ratio is currently 38.30%.

Institutional Trading of ChoiceOne Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of COFS. Advisor Group Holdings Inc. boosted its holdings in shares of ChoiceOne Financial Services by 468.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,251 shares of the company’s stock valued at $36,000 after purchasing an additional 1,031 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of ChoiceOne Financial Services by 474.1% in the 1st quarter. Bank of America Corp DE now owns 1,952 shares of the company’s stock valued at $49,000 after purchasing an additional 1,612 shares during the last quarter. California State Teachers Retirement System acquired a new position in shares of ChoiceOne Financial Services in the 2nd quarter valued at $53,000. Wells Fargo & Company MN boosted its holdings in shares of ChoiceOne Financial Services by 5,443.8% in the 2nd quarter. Wells Fargo & Company MN now owns 2,661 shares of the company’s stock valued at $61,000 after purchasing an additional 2,613 shares during the last quarter. Finally, Citigroup Inc. acquired a new position in shares of ChoiceOne Financial Services in the 4th quarter valued at $83,000. 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.