ChoiceOne Financial Services (NASDAQ:COFS) Downgraded by Wall Street Zen to Hold

ChoiceOne Financial Services (NASDAQ:COFS) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

ChoiceOne Financial Services Stock Performance

NASDAQ:COFS opened at $29.98 on Friday. The business’s 50-day moving average price is $29.30 and its two-hundred day moving average price is $29.46. ChoiceOne Financial Services has a twelve month low of $24.89 and a twelve month high of $38.15. The stock has a market cap of $450.30 million, a P/E ratio of 23.79 and a beta of 0.57. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.57.

ChoiceOne Financial Services (NASDAQ:COFS) last released its quarterly earnings results on Friday, July 25th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. ChoiceOne Financial Services had a return on equity of 11.26% and a net margin of 7.95%. The firm had revenue of $42.83 million for the quarter, compared to analysts’ expectations of $38.95 million. As a group, equities analysts predict that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

Hedge Funds Weigh In On ChoiceOne Financial Services

A number of large investors have recently modified their holdings of the company. Curi Capital LLC raised its holdings in shares of ChoiceOne Financial Services by 0.7% during the 2nd quarter. Curi Capital LLC now owns 51,537 shares of the company’s stock valued at $1,479,000 after buying an additional 337 shares in the last quarter. CWM LLC raised its holdings in shares of ChoiceOne Financial Services by 6.0% during the 2nd quarter. CWM LLC now owns 8,223 shares of the company’s stock valued at $236,000 after buying an additional 466 shares in the last quarter. Invesco Ltd. raised its holdings in shares of ChoiceOne Financial Services by 3.5% during the 4th quarter. Invesco Ltd. now owns 14,204 shares of the company’s stock valued at $506,000 after buying an additional 483 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of ChoiceOne Financial Services by 74.6% during the 2nd quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock valued at $37,000 after buying an additional 554 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of ChoiceOne Financial Services by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 188,103 shares of the company’s stock valued at $6,706,000 after buying an additional 761 shares in the last quarter. 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.