ChoiceOne Financial Services (NASDAQ:COFS) Stock Rating Upgraded by Wall Street Zen

ChoiceOne Financial Services (NASDAQ:COFS) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

A number of other research firms have also commented on COFS. Zacks Research raised ChoiceOne Financial Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Weiss Ratings restated a “hold (c)” rating on shares of ChoiceOne Financial Services in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, ChoiceOne Financial Services presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

ChoiceOne Financial Services Price Performance

ChoiceOne Financial Services stock opened at $30.48 on Friday. The stock has a 50-day moving average price of $28.91 and a two-hundred day moving average price of $29.39. ChoiceOne Financial Services has a 12 month low of $24.89 and a 12 month high of $38.15. The company has a market capitalization of $457.81 million, a PE ratio of 22.25 and a beta of 0.61. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55.

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

Insiders Place Their Bets

In related news, Director Eric E. Burrough acquired 5,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $28.50 per share, for a total transaction of $142,500.00. Following the completion of the acquisition, the director owned 174,833 shares of the company’s stock, valued at approximately $4,982,740.50. This trade represents a 2.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COFS. Capstone Financial Advisors Inc. bought a new stake in shares of ChoiceOne Financial Services during the first quarter valued at approximately $233,000. Nuveen LLC bought a new stake in ChoiceOne Financial Services during the 1st quarter valued at $459,000. HighTower Advisors LLC increased its stake in ChoiceOne Financial Services by 6.4% during the 1st quarter. HighTower Advisors LLC now owns 18,518 shares of the company’s stock valued at $533,000 after purchasing an additional 1,116 shares in the last quarter. American Century Companies Inc. raised its holdings in ChoiceOne Financial Services by 47.4% during the first quarter. American Century Companies Inc. now owns 102,982 shares of the company’s stock worth $2,963,000 after buying an additional 33,140 shares during the last quarter. Finally, Penn Mutual Asset Management bought a new position in shares of ChoiceOne Financial Services in the first quarter valued at $245,000. Institutional investors own 19.90% of the company’s stock.

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.