Globeflex Capital L P Purchases New Position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Globeflex Capital L P purchased a new stake in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,000 shares of the company’s stock, valued at approximately $107,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in shares of ChoiceOne Financial Services in the fourth quarter valued at about $123,000. Rhumbline Advisers raised its holdings in shares of ChoiceOne Financial Services by 8.1% in the fourth quarter. Rhumbline Advisers now owns 8,165 shares of the company’s stock valued at $291,000 after buying an additional 611 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of ChoiceOne Financial Services by 157.1% in the third quarter. JPMorgan Chase & Co. now owns 10,887 shares of the company’s stock valued at $337,000 after buying an additional 6,652 shares during the last quarter. Barclays PLC raised its holdings in shares of ChoiceOne Financial Services by 173.3% in the third quarter. Barclays PLC now owns 13,347 shares of the company’s stock valued at $412,000 after buying an additional 8,463 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of ChoiceOne Financial Services by 21.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,443 shares of the company’s stock valued at $694,000 after buying an additional 3,986 shares during the last quarter. 19.90% of the stock is owned by hedge funds and other institutional investors.

ChoiceOne Financial Services Trading Up 0.2 %

NASDAQ COFS opened at $28.59 on Friday. The stock has a market capitalization of $256.42 million, a P/E ratio of 8.77 and a beta of 0.72. ChoiceOne Financial Services, Inc. has a 52-week low of $21.52 and a 52-week high of $38.15. The firm has a 50-day moving average price of $32.67 and a 200 day moving average price of $33.15. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.99.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. ChoiceOne Financial Services had a net margin of 19.21% and a return on equity of 12.44%. Equities research analysts expect that ChoiceOne Financial Services, Inc. will post 3.67 EPS for the current year.

ChoiceOne Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.12 dividend on an annualized basis and a yield of 3.92%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 34.36%.

Analyst Ratings Changes

COFS has been the subject of a number of research reports. DA Davidson reduced their target price on shares of ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating for the company in a report on Monday, January 27th. Hovde Group assumed coverage on shares of ChoiceOne Financial Services in a report on Monday, March 10th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Janney Montgomery Scott raised shares of ChoiceOne Financial Services from a “neutral” rating to a “buy” rating in a report on Monday, March 3rd.

ChoiceOne Financial Services 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.