ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Down 7.3% in March

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 113,300 shares, a decrease of 7.3% from the March 15th total of 122,200 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 13,500 shares, the days-to-cover ratio is presently 8.4 days.

ChoiceOne Financial Services Stock Performance

Shares of COFS opened at $23.48 on Thursday. The company’s fifty day moving average is $25.86 and its 200-day moving average is $25.14. ChoiceOne Financial Services has a 12 month low of $15.84 and a 12 month high of $32.14. The firm has a market cap of $177.51 million, a price-to-earnings ratio of 8.33 and a beta of 0.65. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.20.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.64 by $0.06. ChoiceOne Financial Services had a net margin of 18.67% and a return on equity of 11.73%. The company had revenue of $20.60 million for the quarter, compared to analyst estimates of $20.10 million. Equities analysts expect that ChoiceOne Financial Services will post 2.9 EPS for the current fiscal year.

ChoiceOne Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.08 annualized dividend and a dividend yield of 4.60%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is 38.30%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of COFS. Vanguard Group Inc. boosted its holdings in shares of ChoiceOne Financial Services by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 347,819 shares of the company’s stock worth $10,191,000 after buying an additional 2,352 shares during the period. BlackRock Inc. boosted its holdings in shares of ChoiceOne Financial Services by 876.8% during the 2nd quarter. BlackRock Inc. now owns 339,785 shares of the company’s stock worth $7,815,000 after buying an additional 304,999 shares during the period. Geode Capital Management LLC boosted its holdings in shares of ChoiceOne Financial Services by 124.2% during the 2nd quarter. Geode Capital Management LLC now owns 130,860 shares of the company’s stock worth $3,010,000 after buying an additional 72,490 shares during the period. State Street Corp boosted its holdings in shares of ChoiceOne Financial Services by 253.5% during the 2nd quarter. State Street Corp now owns 77,846 shares of the company’s stock worth $1,790,000 after buying an additional 55,823 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of ChoiceOne Financial Services by 353.2% during the 2nd quarter. Northern Trust Corp now owns 56,588 shares of the company’s stock worth $1,302,000 after buying an additional 44,102 shares during the period. Institutional investors and hedge funds own 19.90% of the company’s stock.

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.