Eric Burrough Purchases 5,000 Shares of ChoiceOne Financial Services (NASDAQ:COFS) Stock

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Director Eric Burrough bought 5,000 shares of the stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average price of $27.50 per share, with a total value of $137,500.00. Following the acquisition, the director directly owned 180,397 shares in the company, valued at approximately $4,960,917.50. The trade was a 2.85% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

ChoiceOne Financial Services Trading Down 0.0%

NASDAQ:COFS traded down $0.00 during mid-day trading on Thursday, hitting $27.69. 63,606 shares of the stock traded hands, compared to its average volume of 89,423. The stock has a market capitalization of $415.98 million, a price-to-earnings ratio of 18.46 and a beta of 0.58. ChoiceOne Financial Services, Inc. has a 52 week low of $24.89 and a 52 week high of $35.40. The firm’s 50 day moving average is $28.99 and its two-hundred day moving average is $29.50. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.55.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.01. ChoiceOne Financial Services had a net margin of 12.38% and a return on equity of 11.81%. The business had revenue of $42.94 million during the quarter, compared to the consensus estimate of $43.80 million. On average, equities research analysts predict that ChoiceOne Financial Services, Inc. will post 3.67 earnings per share for the current year.

ChoiceOne Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, March 13th. This represents a $1.16 dividend on an annualized basis and a yield of 4.2%. ChoiceOne Financial Services’s payout ratio is presently 77.33%.

Institutional Investors Weigh In On ChoiceOne Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new position in shares of ChoiceOne Financial Services during the 3rd quarter worth $32,000. Legal & General Group Plc lifted its stake in ChoiceOne Financial Services by 74.6% in the second quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock worth $37,000 after acquiring an additional 554 shares during the period. Ameritas Investment Partners Inc. grew 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 acquiring an additional 884 shares in the last quarter. Aquatic Capital Management LLC bought a new position in ChoiceOne Financial Services during the 3rd quarter worth about $46,000. Finally, Tower Research Capital LLC TRC increased its position in ChoiceOne Financial Services by 617.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company’s stock valued at $65,000 after purchasing an additional 1,945 shares during the period. 19.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on COFS shares. Hovde Group downgraded ChoiceOne Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. DA Davidson restated a “buy” rating and issued a $36.00 price target on shares of ChoiceOne Financial Services in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ChoiceOne Financial Services in a research note on Wednesday, January 21st. Finally, Wall Street Zen cut shares of ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.00.

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.