ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Up 7.9% in January

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 337,600 shares, a growth of 7.9% from the December 31st total of 313,000 shares. Based on an average trading volume of 31,600 shares, the short-interest ratio is presently 10.7 days.

Wall Street Analyst Weigh In

Separately, 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.

Institutional Trading of ChoiceOne Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of ChoiceOne Financial Services in the 4th quarter worth $123,000. Rhumbline Advisers boosted its holdings in ChoiceOne Financial Services by 8.1% during the fourth quarter. Rhumbline Advisers now owns 8,165 shares of the company’s stock worth $291,000 after buying an additional 611 shares during the last quarter. JPMorgan Chase & Co. grew 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 buying an additional 6,652 shares during the period. Barclays PLC increased its stake in shares of ChoiceOne Financial Services by 173.3% in the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock valued at $412,000 after acquiring an additional 8,463 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of ChoiceOne Financial Services by 7.3% in the 2nd quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock valued at $544,000 after acquiring an additional 1,300 shares during the period. Institutional investors own 19.90% of the company’s stock.

ChoiceOne Financial Services Price Performance

Shares of COFS traded up $0.09 during mid-day trading on Tuesday, hitting $33.19. 2,875 shares of the company traded hands, compared to its average volume of 22,408. 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 stock has a market capitalization of $297.34 million, a price-to-earnings ratio of 10.18 and a beta of 0.71. The business has a 50-day moving average of $35.37 and a 200 day moving average of $32.36. ChoiceOne Financial Services has a one year low of $21.52 and a one year high of $38.15.

ChoiceOne Financial Services (NASDAQ:COFS) last released its earnings results on Wednesday, January 22nd. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. As a group, equities analysts expect that ChoiceOne Financial Services will post 3.67 earnings per share for the current fiscal year.

ChoiceOne Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 3.38%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 34.36%.

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.