ChoiceOne Financial Services (NASDAQ:COFS) Announces Earnings Results

ChoiceOne Financial Services (NASDAQ:COFS) released its earnings results on Friday. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.12, FiscalAI reports. ChoiceOne Financial Services had a net margin of 22.77% and a return on equity of 12.04%. The firm had revenue of $45.19 million during the quarter, compared to analyst estimates of $44.50 million.

ChoiceOne Financial Services Trading Up 1.3%

NASDAQ:COFS opened at $35.45 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50-day simple moving average is $33.40 and its 200-day simple moving average is $31.51. ChoiceOne Financial Services has a fifty-two week low of $26.63 and a fifty-two week high of $37.10. The stock has a market capitalization of $530.19 million, a PE ratio of 9.77 and a beta of 0.61.

ChoiceOne Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.3%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is currently 31.96%.

Analysts Set New Price Targets

COFS has been the topic of several recent analyst reports. Hovde Group lifted their price objective on shares of ChoiceOne Financial Services from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. DA Davidson upped their target price on shares of ChoiceOne Financial Services from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of ChoiceOne Financial Services in a report on Friday, September 25th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, ChoiceOne Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.50.

About ChoiceOne Financial Services

ChoiceOne Financial Services, Inc (NASDAQ: COFS) is the bank holding company for ChoiceOne Bank, a community banking organization headquartered in Sparta, Michigan. The company serves individuals, families, farmers and businesses through a network of branches and digital banking channels primarily across western and central Michigan.

ChoiceOne Bank provides a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans and commercial lending.