ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Up 13.8% in July

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 115,500 shares, a growth of 13.8% from the June 30th total of 101,500 shares. Based on an average daily trading volume, of 10,500 shares, the days-to-cover ratio is presently 11.0 days. Approximately 1.7% of the company’s stock are short sold.

ChoiceOne Financial Services Stock Up 0.4 %

COFS stock traded up $0.12 during trading on Wednesday, hitting $27.45. 10,003 shares of the stock traded hands, compared to its average volume of 12,825. ChoiceOne Financial Services has a 1 year low of $15.84 and a 1 year high of $32.14. The firm’s 50 day moving average is $26.82 and its two-hundred day moving average is $26.33. The stock has a market cap of $240.74 million, a price-to-earnings ratio of 9.73 and a beta of 0.69. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.71 and a quick ratio of 0.71.

ChoiceOne Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Friday, June 14th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is 38.43%.

Insider Transactions at ChoiceOne Financial Services

In other news, CEO Kelly Potes acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were bought at an average cost of $25.00 per share, with a total value of $50,000.00. Following the transaction, the chief executive officer now owns 40,133 shares of the company’s stock, valued at approximately $1,003,325. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.92% of the company’s stock.

Institutional Trading of ChoiceOne Financial Services

Several institutional investors have recently bought and sold shares of COFS. SG Americas Securities LLC bought a new position in ChoiceOne Financial Services during the 4th quarter valued at about $111,000. CWM LLC lifted its stake in ChoiceOne Financial Services by 33.8% during the 1st quarter. CWM LLC now owns 4,798 shares of the company’s stock valued at $131,000 after acquiring an additional 1,211 shares during the period. Bank of New York Mellon Corp lifted its stake in ChoiceOne Financial Services by 7.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock valued at $622,000 after acquiring an additional 1,425 shares during the period. Empowered Funds LLC lifted its stake in ChoiceOne Financial Services by 7.9% during the 1st quarter. Empowered Funds LLC now owns 23,920 shares of the company’s stock valued at $654,000 after acquiring an additional 1,750 shares during the period. Finally, Cerity Partners LLC bought a new position in ChoiceOne Financial Services during the 4th quarter valued at about $1,351,000. 19.90% of the stock is 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.