ChoiceOne Financial Services, Inc. (NASDAQ:COFS) CEO Acquires $50,000.00 in Stock

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) CEO Kelly Potes purchased 2,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was bought at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the acquisition, the chief executive officer now owns 40,133 shares in the company, valued at $1,003,325. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

ChoiceOne Financial Services Trading Down 0.5 %

Shares of COFS stock traded down $0.13 on Monday, reaching $26.85. 21,479 shares of the stock were exchanged, compared to its average volume of 12,768. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.19. The stock has a market cap of $235.47 million, a P/E ratio of 9.60 and a beta of 0.69. The firm has a 50 day moving average of $26.83 and a two-hundred day moving average of $26.32. ChoiceOne Financial Services, Inc. has a 1-year low of $15.84 and a 1-year high of $32.14.

ChoiceOne Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.08 annualized dividend and a yield of 4.02%. ChoiceOne Financial Services’s dividend payout ratio is presently 38.43%.

Hedge Funds Weigh In On ChoiceOne Financial Services

A number of large investors have recently modified their holdings of COFS. CWM LLC increased its position in ChoiceOne Financial Services by 33.8% during the 1st quarter. CWM LLC now owns 4,798 shares of the company’s stock worth $131,000 after purchasing an additional 1,211 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of ChoiceOne Financial Services by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock worth $622,000 after acquiring an additional 1,425 shares in the last quarter. Empowered Funds LLC increased its position in shares of ChoiceOne Financial Services by 7.9% in the first quarter. Empowered Funds LLC now owns 23,920 shares of the company’s stock worth $654,000 after acquiring an additional 1,750 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of ChoiceOne Financial Services by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 350,690 shares of the company’s stock valued at $9,591,000 after acquiring an additional 2,871 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of ChoiceOne Financial Services during the 4th quarter valued at $111,000. 19.90% of the stock is currently owned by hedge funds and other institutional investors.

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.