ChoiceOne Financial Services (NASDAQ:COFS) Coverage Initiated by Analysts at Hovde Group

Equities research analysts at Hovde Group assumed coverage on shares of ChoiceOne Financial Services (NASDAQ:COFS) in a research report issued on Monday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $35.00 price target on the stock. Hovde Group’s price target points to a potential upside of 14.54% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. DA Davidson reduced their price target 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. Janney Montgomery Scott upgraded shares of ChoiceOne Financial Services from a “neutral” rating to a “buy” rating in a report on Monday, March 3rd.

ChoiceOne Financial Services Price Performance

Shares of COFS traded down $0.05 during midday trading on Monday, hitting $30.56. 4,917 shares of the company traded hands, compared to its average volume of 32,924. The stock has a market cap of $273.72 million, a price-to-earnings ratio of 9.38 and a beta of 0.72. The firm has a 50 day moving average of $33.31 and a 200-day moving average of $33.19. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. ChoiceOne Financial Services has a 52 week low of $21.52 and a 52 week 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, beating analysts’ consensus estimates of $0.82 by $0.01. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. On average, analysts forecast that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

Institutional Trading of ChoiceOne Financial Services

A number of institutional investors have recently bought and sold shares of the stock. Invesco Ltd. raised its stake in shares of ChoiceOne Financial Services by 3.5% in the fourth quarter. Invesco Ltd. now owns 14,204 shares of the company’s stock valued at $506,000 after acquiring an additional 483 shares during the period. Rhumbline Advisers grew its holdings in ChoiceOne Financial Services by 8.1% during the 4th quarter. Rhumbline Advisers now owns 8,165 shares of the company’s stock valued at $291,000 after purchasing an additional 611 shares during the last quarter. Geode Capital Management LLC raised its position in ChoiceOne Financial Services by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 188,103 shares of the company’s stock worth $6,706,000 after purchasing an additional 761 shares during the period. The Manufacturers Life Insurance Company lifted its stake in ChoiceOne Financial Services by 0.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 224,304 shares of the company’s stock worth $7,994,000 after purchasing an additional 890 shares during the last quarter. Finally, Mattson Financial Services LLC boosted its position in shares of ChoiceOne Financial Services by 58.0% during the fourth quarter. Mattson Financial Services LLC now owns 2,575 shares of the company’s stock valued at $92,000 after buying an additional 945 shares during the period. 19.90% of the stock is currently owned by 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.