ChoiceOne Financial Services, Inc. (COFS) to Issue Quarterly Dividend of $0.28 on March 31st

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.28 per share on Monday, March 31st. This represents a $1.12 annualized dividend and a yield of 3.54%. The ex-dividend date is Friday, March 14th.

ChoiceOne Financial Services has increased its dividend by an average of 5.1% per year over the last three years and has raised its dividend every year for the last 13 years. ChoiceOne Financial Services has a dividend payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ChoiceOne Financial Services to earn $3.85 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 29.1%.

ChoiceOne Financial Services Stock Down 0.5 %

Shares of NASDAQ COFS opened at $31.67 on Friday. ChoiceOne Financial Services has a 12-month low of $21.52 and a 12-month high of $38.15. The stock has a market cap of $283.70 million, a P/E ratio of 9.71 and a beta of 0.71. 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’s fifty day simple moving average is $33.85 and its 200-day simple moving average is $32.95.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.83 earnings per share (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 predict that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their price objective 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.

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.