DA Davidson Issues Pessimistic Forecast for ChoiceOne Financial Services (NASDAQ:COFS) Stock Price

ChoiceOne Financial Services (NASDAQ:COFS) had its target price dropped by equities researchers at DA Davidson from $41.00 to $39.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential upside of 14.27% from the company’s previous close.

ChoiceOne Financial Services Price Performance

NASDAQ COFS traded down $0.17 during trading on Monday, reaching $34.13. 24,540 shares of the company traded hands, compared to its average volume of 24,604. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. The stock’s 50 day moving average price is $35.67 and its two-hundred day moving average price is $32.15. The company has a market cap of $305.80 million, a price-to-earnings ratio of 10.47 and a beta of 0.72. ChoiceOne Financial Services has a 1-year low of $21.52 and a 1-year high of $38.15.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its 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%. As a group, analysts anticipate that ChoiceOne Financial Services will post 3.8 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its position in ChoiceOne Financial Services by 7.3% in the 2nd quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock worth $544,000 after purchasing an additional 1,300 shares during the last quarter. Empowered Funds LLC raised its position in ChoiceOne Financial Services by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock worth $836,000 after purchasing an additional 1,340 shares during the last quarter. Mattson Financial Services LLC bought a new position in ChoiceOne Financial Services in the 2nd quarter worth approximately $47,000. SG Americas Securities LLC bought a new stake in shares of ChoiceOne Financial Services during the 4th quarter valued at $123,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ChoiceOne Financial Services by 21.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,443 shares of the company’s stock valued at $694,000 after acquiring an additional 3,986 shares during the last quarter. 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.