Mattson Financial Services LLC Buys Shares of 1,630 ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Mattson Financial Services LLC purchased a new position in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,630 shares of the company’s stock, valued at approximately $47,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. CWM LLC raised its holdings in ChoiceOne Financial Services by 33.8% during the first quarter. CWM LLC now owns 4,798 shares of the company’s stock valued at $131,000 after buying an additional 1,211 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of ChoiceOne Financial Services by 7.3% in the 2nd quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock valued at $544,000 after acquiring an additional 1,300 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in ChoiceOne Financial Services by 7.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock worth $622,000 after purchasing an additional 1,425 shares during the last quarter. Empowered Funds LLC boosted its position in ChoiceOne Financial Services by 7.9% during the first quarter. Empowered Funds LLC now owns 23,920 shares of the company’s stock worth $654,000 after purchasing an additional 1,750 shares during the period. Finally, Vanguard Group Inc. grew its holdings in ChoiceOne Financial Services by 0.8% during 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 during the last quarter. Institutional investors own 19.90% of the company’s stock.

ChoiceOne Financial Services Price Performance

Shares of ChoiceOne Financial Services stock opened at $29.69 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.15. The firm has a fifty day simple moving average of $29.09 and a 200-day simple moving average of $27.11. The stock has a market capitalization of $224.78 million, a price-to-earnings ratio of 10.57 and a beta of 0.70. ChoiceOne Financial Services, Inc. has a 1-year low of $15.84 and a 1-year high of $32.26.

ChoiceOne Financial Services (NASDAQ:COFS) last released its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $22.45 million during the quarter, compared to analyst estimates of $21.60 million. ChoiceOne Financial Services had a net margin of 17.61% and a return on equity of 11.35%. On average, sell-side analysts expect that ChoiceOne Financial Services, Inc. will post 3.06 earnings per share for the current year.

ChoiceOne Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, September 13th. This represents a $1.08 annualized dividend and a yield of 3.64%. ChoiceOne Financial Services’s payout ratio is 38.43%.

Insider Buying and Selling at ChoiceOne Financial Services

In other ChoiceOne Financial Services news, CEO Kelly Potes purchased 2,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $26.73 per share, for a total transaction of $53,460.00. Following the completion of the acquisition, the chief executive officer now directly owns 5,000 shares in the company, valued at $133,650. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, President Michael J. Burke, Jr. bought 1,000 shares of ChoiceOne Financial Services stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $27.25 per share, for a total transaction of $27,250.00. Following the completion of the purchase, the president now owns 2,000 shares in the company, valued at $54,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kelly Potes bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $26.73 per share, for a total transaction of $53,460.00. Following the completion of the transaction, the chief executive officer now owns 5,000 shares of the company’s stock, valued at $133,650. The disclosure for this purchase can be found here. Insiders have acquired 5,900 shares of company stock valued at $154,085 in the last 90 days. 7.92% of the stock is currently owned by insiders.

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.