Short Interest in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Rises By 25.4%

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 266,000 shares, a growth of 25.4% from the October 15th total of 212,100 shares. Based on an average daily volume of 37,300 shares, the days-to-cover ratio is presently 7.1 days.

Wall Street Analyst Weigh In

Separately, DA Davidson started coverage on shares of ChoiceOne Financial Services in a research note on Friday, October 18th. They issued a “buy” rating and a $37.00 price objective for the company.

ChoiceOne Financial Services Trading Down 0.1 %

Shares of NASDAQ:COFS traded down $0.05 during trading on Friday, hitting $35.54. The company had a trading volume of 33,768 shares, compared to its average volume of 36,809. The stock has a market cap of $318.44 million, a price-to-earnings ratio of 11.21 and a beta of 0.69. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.74 and a quick ratio of 0.72. The company has a fifty day simple moving average of $31.82 and a two-hundred day simple moving average of $28.80. ChoiceOne Financial Services has a one year low of $21.52 and a one year high of $37.00.

ChoiceOne Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, September 13th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is 34.07%.

Institutional Investors Weigh In On ChoiceOne Financial Services

Several institutional investors have recently made changes to their positions in COFS. Renaissance Technologies LLC grew its holdings in ChoiceOne Financial Services by 7.3% during the 2nd quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock valued at $544,000 after purchasing an additional 1,300 shares during the last quarter. Empowered Funds LLC boosted its position in shares of ChoiceOne Financial Services by 5.2% during the third quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock valued at $836,000 after buying an additional 1,340 shares during the period. Bank of New York Mellon Corp boosted its position in shares of ChoiceOne Financial Services by 7.0% during the second quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock valued at $622,000 after buying an additional 1,425 shares during the period. Mattson Financial Services LLC bought a new position in shares of ChoiceOne Financial Services during the second quarter valued at approximately $47,000. Finally, Vanguard Group Inc. raised its holdings in shares of ChoiceOne Financial Services by 0.8% in the first quarter. Vanguard Group Inc. now owns 350,690 shares of the company’s stock worth $9,591,000 after buying an additional 2,871 shares during the period. Institutional investors own 19.90% of the company’s stock.

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.