Janney Montgomery Scott Upgrades ChoiceOne Financial Services (NASDAQ:COFS) to Buy

Janney Montgomery Scott upgraded shares of ChoiceOne Financial Services (NASDAQ:COFS) from a neutral rating to a buy rating in a research report released on Monday, Marketbeat Ratings reports.

Separately, DA Davidson decreased their price target on ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 27th.

ChoiceOne Financial Services Price Performance

Shares of COFS opened at $30.91 on Monday. The stock’s 50 day moving average is $33.52 and its two-hundred day moving average is $33.11. The firm has a market capitalization of $276.89 million, a PE ratio of 9.48 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. ChoiceOne Financial Services has a twelve month low of $21.52 and a twelve month high of $38.15.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $0.83 EPS for the quarter, topping 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%. Research analysts anticipate that ChoiceOne Financial Services will post 3.67 earnings per share for the current year.

ChoiceOne Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, March 14th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is 34.36%.

Institutional Investors Weigh In On ChoiceOne Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of COFS. Globeflex Capital L P purchased a new stake in ChoiceOne Financial Services in the 4th quarter valued at approximately $107,000. SG Americas Securities LLC purchased a new stake in ChoiceOne Financial Services in the 4th quarter valued at approximately $123,000. Wells Fargo & Company MN lifted its stake in ChoiceOne Financial Services by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 4,891 shares of the company’s stock valued at $174,000 after buying an additional 1,065 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in ChoiceOne Financial Services in the 4th quarter valued at approximately $260,000. Finally, Trexquant Investment LP purchased a new stake in ChoiceOne Financial Services in the 4th quarter valued at approximately $268,000. Hedge funds and other institutional investors own 19.90% of the company’s stock.

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.