Geode Capital Management LLC Purchases 32,725 Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Geode Capital Management LLC boosted its position in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 21.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 187,342 shares of the company’s stock after buying an additional 32,725 shares during the quarter. Geode Capital Management LLC’s holdings in ChoiceOne Financial Services were worth $5,792,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Fourthstone LLC bought a new stake in shares of ChoiceOne Financial Services in the 3rd quarter valued at about $10,962,000. The Manufacturers Life Insurance Company bought a new stake in ChoiceOne Financial Services in the third quarter valued at approximately $6,906,000. Zacks Investment Management bought a new stake in ChoiceOne Financial Services in the third quarter valued at approximately $3,625,000. Jacobs Asset Management LLC acquired a new stake in shares of ChoiceOne Financial Services in the third quarter valued at approximately $3,091,000. Finally, Curi RMB Capital LLC bought a new position in shares of ChoiceOne Financial Services during the 3rd quarter worth approximately $2,192,000. Institutional investors and hedge funds own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson started coverage on ChoiceOne Financial Services in a report on Friday, October 18th. They set a “buy” rating and a $37.00 price target for the company.

ChoiceOne Financial Services Stock Up 1.3 %

Shares of COFS opened at $35.10 on Friday. The firm has a market cap of $314.43 million, a P/E ratio of 11.07 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. ChoiceOne Financial Services, Inc. has a 52 week low of $21.52 and a 52 week high of $38.15. The firm’s 50-day simple moving average is $35.75 and its 200 day simple moving average is $31.36.

ChoiceOne Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $0.28 dividend. This is an increase from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, December 13th. This represents a $1.12 annualized dividend and a dividend yield of 3.19%. ChoiceOne Financial Services’s dividend payout ratio is presently 35.33%.

ChoiceOne Financial Services Profile

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.