ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Announces $0.29 Quarterly Dividend

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) declared a quarterly dividend on Wednesday, May 20th. Investors of record on Monday, June 15th will be given a dividend of 0.29 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, June 15th.

ChoiceOne Financial Services has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 13 consecutive years. ChoiceOne Financial Services has a dividend payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ChoiceOne Financial Services to earn $3.75 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 30.9%.

ChoiceOne Financial Services Price Performance

COFS stock opened at $31.35 on Thursday. ChoiceOne Financial Services has a 1 year low of $26.09 and a 1 year high of $35.40. The company has a market cap of $469.47 million, a P/E ratio of 8.47 and a beta of 0.60. The firm has a 50-day moving average of $29.40 and a 200 day moving average of $29.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.83 and a quick ratio of 0.83.

ChoiceOne Financial Services (NASDAQ:COFS) last released its quarterly earnings results on Friday, April 24th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. ChoiceOne Financial Services had a net margin of 23.07% and a return on equity of 12.31%. The company had revenue of $42.46 million during the quarter, compared to the consensus estimate of $42.70 million. On average, sell-side analysts forecast that ChoiceOne Financial Services will post 3.61 EPS for the current year.

ChoiceOne Financial Services Company Profile

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.