Trexquant Investment LP Purchases New Holdings in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Trexquant Investment LP acquired a new position in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,519 shares of the company’s stock, valued at approximately $268,000. Trexquant Investment LP owned 0.08% of ChoiceOne Financial Services at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Globeflex Capital L P acquired a new position in ChoiceOne Financial Services in the fourth quarter valued at about $107,000. SG Americas Securities LLC acquired a new position in shares of ChoiceOne Financial Services in the 4th quarter valued at approximately $123,000. Rhumbline Advisers lifted its holdings in shares of ChoiceOne Financial Services by 8.1% during the 4th quarter. Rhumbline Advisers now owns 8,165 shares of the company’s stock worth $291,000 after acquiring an additional 611 shares during the period. JPMorgan Chase & Co. boosted its position in shares of ChoiceOne Financial Services by 157.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,887 shares of the company’s stock worth $337,000 after acquiring an additional 6,652 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in ChoiceOne Financial Services by 203.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,053 shares of the company’s stock valued at $394,000 after acquiring an additional 7,406 shares during the last quarter. 19.90% of the stock is owned by institutional investors and hedge funds.

ChoiceOne Financial Services Stock Down 1.3 %

Shares of NASDAQ:COFS opened at $25.18 on Monday. ChoiceOne Financial Services, Inc. has a 52-week low of $22.02 and a 52-week high of $38.15. The company has a market capitalization of $225.84 million, a PE ratio of 7.72 and a beta of 0.61. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. The company has a fifty day moving average of $29.89 and a 200-day moving average of $32.69.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its earnings results on Wednesday, January 22nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. On average, equities analysts predict that ChoiceOne Financial Services, Inc. will post 3.67 EPS for the current fiscal year.

ChoiceOne Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.28 per share. The ex-dividend date was Friday, March 14th. This represents a $1.12 annualized dividend and a yield of 4.45%. ChoiceOne Financial Services’s dividend payout ratio is presently 34.36%.

Analyst Ratings Changes

COFS has been the subject of several recent analyst reports. Janney Montgomery Scott raised ChoiceOne Financial Services from a “neutral” rating to a “buy” rating in a report on Monday, March 3rd. Hovde Group initiated coverage on ChoiceOne Financial Services in a research note on Monday, March 10th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, DA Davidson lowered their target price on ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, January 27th.

About ChoiceOne Financial Services

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.