ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Update

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 153,500 shares, an increase of 23.8% from the August 31st total of 124,000 shares. Based on an average daily volume of 29,300 shares, the days-to-cover ratio is presently 5.2 days.

ChoiceOne Financial Services Trading Down 0.1 %

Shares of ChoiceOne Financial Services stock opened at $30.66 on Monday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a 50-day moving average of $29.03 and a 200-day moving average of $27.04. ChoiceOne Financial Services has a 52-week low of $15.84 and a 52-week high of $32.26. The stock has a market cap of $232.13 million, a PE ratio of 10.91 and a beta of 0.70.

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

ChoiceOne Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, September 13th. This represents a $1.08 dividend on an annualized basis and a yield of 3.52%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 38.43%.

Insiders Place Their Bets

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

Institutional Trading of ChoiceOne Financial Services

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of ChoiceOne Financial Services by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 350,690 shares of the company’s stock worth $9,591,000 after buying an additional 2,871 shares in the last quarter. Empowered Funds LLC increased its position in shares of 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 acquiring an additional 1,750 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of ChoiceOne Financial Services by 7.0% in the second 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. Renaissance Technologies LLC raised its position in 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 buying an additional 1,300 shares during the last quarter. Finally, CWM LLC raised 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 during the last quarter. 19.90% of the stock is currently owned by institutional investors.

ChoiceOne Financial Services Company 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.