Short Interest in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Rises By 8.3%

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 111,400 shares, an increase of 8.3% from the May 31st total of 102,900 shares. Based on an average trading volume of 8,300 shares, the short-interest ratio is currently 13.4 days. Currently, 1.6% of the company’s shares are sold short.

Institutional Trading of ChoiceOne Financial Services

A number of institutional investors have recently modified their holdings of the company. CWM LLC lifted its holdings in shares of ChoiceOne Financial Services by 33.8% in the first quarter. CWM LLC now owns 4,798 shares of the company’s stock valued at $131,000 after purchasing an additional 1,211 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of ChoiceOne Financial Services by 7.9% in the first quarter. Empowered Funds LLC now owns 23,920 shares of the company’s stock valued at $654,000 after purchasing an additional 1,750 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of ChoiceOne Financial Services by 0.8% in the first quarter. Vanguard Group Inc. now owns 350,690 shares of the company’s stock valued at $9,591,000 after purchasing an additional 2,871 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of ChoiceOne Financial Services in the fourth quarter valued at about $111,000. Finally, Cerity Partners LLC bought a new stake in ChoiceOne Financial Services during the fourth quarter worth about $1,351,000. 19.90% of the stock is currently owned by institutional investors.

ChoiceOne Financial Services Stock Down 0.1 %

NASDAQ:COFS opened at $28.68 on Thursday. ChoiceOne Financial Services has a 1 year low of $15.84 and a 1 year high of $32.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.19. The stock has a market cap of $217.11 million, a price-to-earnings ratio of 10.21 and a beta of 0.69. The stock has a 50-day moving average price of $26.08 and a two-hundred day moving average price of $26.58.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its earnings results on Wednesday, April 24th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.15. ChoiceOne Financial Services had a return on equity of 11.15% and a net margin of 17.53%. The firm had revenue of $20.53 million during the quarter, compared to analysts’ expectations of $19.40 million. As a group, equities analysts expect that ChoiceOne Financial Services will post 3.02 earnings per share for the current year.

ChoiceOne Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.27 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.77%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is 38.43%.

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.