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

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) announced a quarterly dividend on Wednesday, August 26th. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.29 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 15th.

ChoiceOne Financial Services has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 13 years. ChoiceOne Financial Services has a dividend payout ratio of 31.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect ChoiceOne Financial Services to earn $3.72 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 31.2%.

ChoiceOne Financial Services Stock Performance

Shares of COFS stock opened at $33.56 on Thursday. The stock has a market cap of $502.06 million, a PE ratio of 9.25 and a beta of 0.60. The stock has a 50-day moving average of $33.59 and a 200-day moving average of $31.17. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.87 and a quick ratio of 0.87. ChoiceOne Financial Services has a one year low of $26.09 and a one year high of $35.40.

ChoiceOne Financial Services (NASDAQ:COFS) last released its quarterly earnings data on Friday, July 24th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.05). The firm had revenue of $41.64 million for the quarter, compared to the consensus estimate of $43.45 million. ChoiceOne Financial Services had a return on equity of 12.04% and a net margin of 22.77%. As a group, sell-side analysts expect that ChoiceOne Financial Services will post 3.63 earnings per share for the current year.

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.