DA Davidson Reaffirms Buy Rating for ChoiceOne Financial Services (NASDAQ:COFS)

ChoiceOne Financial Services (NASDAQ:COFS)‘s stock had its “buy” rating reaffirmed by equities research analysts at DA Davidson in a report released on Tuesday,Benzinga reports. They presently have a $36.00 target price on the stock. DA Davidson’s price objective points to a potential upside of 20.20% from the company’s current price.

A number of other equities analysts have also commented on COFS. Hovde Group lowered ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Wall Street Zen downgraded ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.50.

ChoiceOne Financial Services Stock Performance

ChoiceOne Financial Services stock traded up $0.30 during trading hours on Tuesday, hitting $29.95. The company had a trading volume of 22,416 shares, compared to its average volume of 75,458. The firm has a 50-day moving average of $29.97 and a 200 day moving average of $29.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $449.97 million, a PE ratio of 19.97 and a beta of 0.61. ChoiceOne Financial Services has a one year low of $24.89 and a one year high of $35.40.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its earnings results on Friday, January 30th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.91 by $0.01. The company had revenue of $42.94 million for the quarter, compared to the consensus estimate of $43.80 million. ChoiceOne Financial Services had a return on equity of 11.81% and a net margin of 12.38%. On average, sell-side analysts expect that ChoiceOne Financial Services will post 3.67 earnings per share for the current year.

Insider Buying and Selling at ChoiceOne Financial Services

In related news, Director Eric E. Burrough acquired 5,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $28.50 per share, with a total value of $142,500.00. Following the transaction, the director directly owned 174,833 shares of the company’s stock, valued at $4,982,740.50. This trade represents a 2.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COFS. Curi Capital LLC increased its stake in ChoiceOne Financial Services by 0.7% during the 2nd quarter. Curi Capital LLC now owns 51,537 shares of the company’s stock valued at $1,479,000 after purchasing an additional 337 shares in the last quarter. CWM LLC lifted its position in ChoiceOne Financial Services by 6.0% in the 2nd quarter. CWM LLC now owns 8,223 shares of the company’s stock valued at $236,000 after acquiring an additional 466 shares in the last quarter. Legal & General Group Plc boosted its stake in ChoiceOne Financial Services by 74.6% during the 2nd quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock valued at $37,000 after purchasing an additional 554 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in ChoiceOne Financial Services by 153.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,461 shares of the company’s stock worth $42,000 after purchasing an additional 884 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in shares of ChoiceOne Financial Services in the third quarter worth approximately $32,000. Institutional investors own 19.90% of the company’s stock.

About ChoiceOne Financial Services

ChoiceOne Financial Services, Inc is a bank holding company headquartered in Jackson, Michigan. Through its subsidiary, ChoiceOne Bank, it provides a full suite of banking and financial services to individuals, families, and businesses. The company’s primary operations are concentrated in community banking, spanning retail deposits, commercial and consumer lending, mortgage origination, and treasury management solutions.

ChoiceOne Bank offers checking and savings accounts, certificates of deposit, and online and mobile banking platforms designed to meet the needs of its customers.