ChoiceOne Financial Services (NASDAQ:COFS) Stock Price Down 0%

ChoiceOne Financial Services, Inc. (NASDAQ:COFS)’s share price fell 0% during trading on Thursday . The stock traded as low as $30.50 and last traded at $30.70. 31,393 shares traded hands during trading, an increase of 103% from the average session volume of 15,436 shares. The stock had previously closed at $30.71.

ChoiceOne Financial Services Trading Down 1.6 %

The company has a fifty day moving average of $28.15 and a two-hundred day moving average of $26.57. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $228.72 million, a price-to-earnings ratio of 10.75 and a beta of 0.70.

ChoiceOne Financial Services (NASDAQ:COFS) last released its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.76 by $0.11. The company had revenue of $22.45 million during the quarter, compared to analysts’ expectations of $21.60 million. ChoiceOne Financial Services had a net margin of 17.61% and a return on equity of 11.35%. On average, research analysts expect that ChoiceOne Financial Services, Inc. will post 3.06 EPS for the current year.

ChoiceOne Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Friday, September 13th. ChoiceOne Financial Services’s dividend payout ratio is presently 38.43%.

Insiders Place Their Bets

In other ChoiceOne Financial Services news, President Michael J. Burke, Jr. purchased 1,000 shares of ChoiceOne Financial Services stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $27.25 per share, with a total value of $27,250.00. Following the acquisition, the president now directly owns 2,000 shares of the company’s stock, valued at $54,500. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, President Michael J. Burke, Jr. purchased 1,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $27.25 per share, with a total value of $27,250.00. Following the purchase, the president now directly owns 2,000 shares in the company, valued at approximately $54,500. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kelly Potes acquired 2,000 shares of ChoiceOne Financial Services stock in a transaction that occurred on Thursday, July 25th. The stock was bought at an average price of $25.00 per share, with a total value of $50,000.00. Following the purchase, the chief executive officer now directly owns 40,133 shares of the company’s stock, valued at $1,003,325. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 5,900 shares of company stock worth $154,085. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On ChoiceOne Financial Services

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC grew its stake in ChoiceOne Financial Services by 33.8% in 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 last quarter. Renaissance Technologies LLC lifted its holdings in shares of ChoiceOne Financial Services by 7.3% in the second quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock valued at $544,000 after purchasing an additional 1,300 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of ChoiceOne Financial Services by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock valued at $622,000 after purchasing an additional 1,425 shares during the last quarter. Empowered Funds LLC increased its stake in shares of ChoiceOne Financial Services by 7.9% during the 1st quarter. Empowered Funds LLC now owns 23,920 shares of the company’s stock worth $654,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of ChoiceOne Financial Services by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 350,690 shares of the company’s stock worth $9,591,000 after purchasing an additional 2,871 shares during the last quarter. 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.