Brokerages Set ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Price Target at $37.00

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) has been given a consensus rating of “Moderate Buy” by the five research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $37.00.

COFS has been the subject of a number of research analyst reports. Wall Street Zen cut shares of ChoiceOne Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “hold (c)” rating on shares of ChoiceOne Financial Services in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of ChoiceOne Financial Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th.

ChoiceOne Financial Services Price Performance

NASDAQ:COFS opened at $30.60 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average price is $28.88 and its two-hundred day moving average price is $29.39. The firm has a market capitalization of $459.61 million, a price-to-earnings ratio of 22.34 and a beta of 0.59. ChoiceOne Financial Services has a 12-month low of $24.89 and a 12-month high of $38.15.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its earnings results on Tuesday, November 8th. The company reported $0.60 EPS for the quarter. ChoiceOne Financial Services had a return on equity of 11.52% and a net margin of 10.57%.The company had revenue of $20.17 million during the quarter. On average, analysts anticipate that ChoiceOne Financial Services will post 3.67 earnings per share for the current year.

Insider Activity at ChoiceOne Financial Services

In other news, Director Eric E. Burrough bought 5,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $28.50 per share, with a total value of $142,500.00. Following the completion of the transaction, the director owned 174,833 shares of the company’s stock, valued at $4,982,740.50. This trade represents a 2.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.93% of the company’s stock.

Institutional Trading of ChoiceOne Financial Services

Several institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its position in ChoiceOne Financial Services by 58.9% during the 1st quarter. CWM LLC now owns 7,757 shares of the company’s stock worth $223,000 after buying an additional 2,876 shares during the period. Capstone Financial Advisors Inc. acquired a new position in shares of ChoiceOne Financial Services in the first quarter valued at about $233,000. Nuveen LLC bought a new position in ChoiceOne Financial Services during the first quarter worth about $459,000. HighTower Advisors LLC raised its stake in ChoiceOne Financial Services by 6.4% in the 1st quarter. HighTower Advisors LLC now owns 18,518 shares of the company’s stock worth $533,000 after purchasing an additional 1,116 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in ChoiceOne Financial Services by 47.4% in the 1st quarter. American Century Companies Inc. now owns 102,982 shares of the company’s stock worth $2,963,000 after purchasing an additional 33,140 shares in 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.