ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Up 8.3% in June

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 111,400 shares, a growth of 8.3% from the May 31st total of 102,900 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 8,300 shares, the short-interest ratio is presently 13.4 days.

Hedge Funds Weigh In On ChoiceOne Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings 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 valued at $9,591,000 after buying an additional 2,871 shares during the period. Cerity Partners LLC bought a new position in ChoiceOne Financial Services in the 4th quarter worth $1,351,000. Empowered Funds LLC raised its holdings in ChoiceOne Financial Services by 7.9% in 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 during the period. CWM LLC raised its holdings in ChoiceOne Financial Services by 33.8% in the 1st quarter. CWM LLC now owns 4,798 shares of the company’s stock worth $131,000 after purchasing an additional 1,211 shares during the period. Finally, SG Americas Securities LLC bought a new position in ChoiceOne Financial Services in the 4th quarter worth $111,000. 19.90% of the stock is owned by institutional investors.

ChoiceOne Financial Services Stock Performance

NASDAQ COFS traded down $0.10 during trading hours on Tuesday, hitting $27.80. The company’s stock had a trading volume of 1,471 shares, compared to its average volume of 12,000. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $210.45 million, a P/E ratio of 9.93 and a beta of 0.69. The company’s 50 day simple moving average is $25.91 and its two-hundred day simple moving average is $26.58. ChoiceOne Financial Services has a 12 month low of $15.84 and a 12 month high of $32.14.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.15. The firm had revenue of $20.53 million during the quarter, compared to analyst estimates of $19.40 million. ChoiceOne Financial Services had a net margin of 17.53% and a return on equity of 11.15%. As a group, sell-side analysts expect that ChoiceOne Financial Services will post 3.02 EPS for the current fiscal year.

ChoiceOne Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.08 annualized dividend and a dividend yield of 3.88%. ChoiceOne Financial Services’s payout ratio is 38.43%.

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.