ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Stock Position Increased by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its position in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 27.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,891 shares of the company’s stock after buying an additional 1,065 shares during the period. Wells Fargo & Company MN’s holdings in ChoiceOne Financial Services were worth $174,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of ChoiceOne Financial Services by 401.9% in the 4th quarter. American Century Companies Inc. now owns 69,842 shares of the company’s stock worth $2,489,000 after purchasing an additional 55,926 shares during the last quarter. Vanguard Group Inc. grew its position in ChoiceOne Financial Services by 9.2% in the fourth quarter. Vanguard Group Inc. now owns 438,579 shares of the company’s stock worth $15,631,000 after buying an additional 36,909 shares during the last quarter. Segall Bryant & Hamill LLC increased its holdings in shares of ChoiceOne Financial Services by 73.1% in the fourth quarter. Segall Bryant & Hamill LLC now owns 61,219 shares of the company’s stock valued at $2,182,000 after buying an additional 25,846 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of ChoiceOne Financial Services by 172.8% during the 4th quarter. JPMorgan Chase & Co. now owns 29,698 shares of the company’s stock valued at $1,058,000 after acquiring an additional 18,811 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of ChoiceOne Financial Services by 173.3% during the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $412,000 after acquiring an additional 8,463 shares in the last quarter. 19.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COFS. Janney Montgomery Scott raised ChoiceOne Financial Services from a “neutral” rating to a “buy” rating in a report on Monday, March 3rd. Hovde Group started coverage on shares of ChoiceOne Financial Services in a report on Monday, March 10th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, DA Davidson dropped their target price on shares of ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 27th.

ChoiceOne Financial Services Trading Down 0.3 %

Shares of NASDAQ COFS opened at $28.99 on Friday. The firm has a market capitalization of $260.01 million, a PE ratio of 8.89 and a beta of 0.56. ChoiceOne Financial Services, Inc. has a one year low of $23.71 and a one year high of $38.15. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $27.95 and a two-hundred day moving average price of $32.27.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $31.23 million for the quarter, compared to analyst estimates of $29.70 million. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. As a group, analysts predict that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current fiscal year.

ChoiceOne Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Friday, March 14th. ChoiceOne Financial Services’s dividend payout ratio is 91.06%.

ChoiceOne Financial Services 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.