ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Plans $0.27 Quarterly Dividend

Posted by Tyrone Williams on May 31st, 2024

ChoiceOne Financial Services, Inc. (NASDAQ:COFS – Get Free Report) declared a quarterly dividend on Wednesday, May 29th, Zacks reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.27 per share on Friday, June 28th. This represents a $1.08 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Friday, June 14th.

ChoiceOne Financial Services has increased its dividend by an average of 8.6% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. ChoiceOne Financial Services has a dividend payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect ChoiceOne Financial Services to earn $3.05 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 35.4%.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ COFS opened at $25.90 on Friday. The business’s 50 day moving average price is $25.31 and its 200 day moving average price is $26.53. The firm has a market cap of $196.06 million, a P/E ratio of 9.22 and a beta of 0.68. ChoiceOne Financial Services has a 52 week low of $15.84 and a 52 week high of $32.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.19.

ChoiceOne Financial Services (NASDAQ:COFS – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.59 by $0.15. ChoiceOne Financial Services had a return on equity of 11.15% and a net margin of 17.53%. The business had revenue of $20.53 million for the quarter, compared to analyst estimates of $19.40 million. On average, sell-side analysts expect that ChoiceOne Financial Services will post 3.02 earnings per share for the current year.

About ChoiceOne Financial Services

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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.