ChoiceOne Financial Services (NASDAQ:COFS) Releases Earnings Results, Beats Expectations By $0.01 EPS

ChoiceOne Financial Services (NASDAQ:COFS) released its quarterly earnings data on Wednesday. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01, Zacks reports. ChoiceOne Financial Services had a net margin of 18.41% and a return on equity of 11.79%.

ChoiceOne Financial Services Stock Down 2.0 %

COFS stock opened at $34.44 on Thursday. ChoiceOne Financial Services has a fifty-two week low of $21.52 and a fifty-two week high of $38.15. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.99. The stock has a market cap of $308.58 million, a PE ratio of 10.86 and a beta of 0.72. The firm’s 50-day simple moving average is $35.72 and its 200 day simple moving average is $31.99.

ChoiceOne Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. ChoiceOne Financial Services’s dividend payout ratio (DPR) is currently 35.33%.

Analysts Set New Price Targets

Separately, DA Davidson initiated coverage on ChoiceOne Financial Services in a research note on Friday, October 18th. They set a “buy” rating and a $37.00 price target on the 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.