Sei Investments Co. Makes New Investment in ChoiceOne Financial Services, Inc. $COFS

Sei Investments Co. purchased a new position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,392 shares of the company’s stock, valued at approximately $545,000. Sei Investments Co. owned about 0.13% of ChoiceOne Financial Services at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COFS. Curi Capital LLC boosted its position in shares of ChoiceOne Financial Services by 0.7% during the second quarter. Curi Capital LLC now owns 51,537 shares of the company’s stock valued at $1,479,000 after buying an additional 337 shares during the last quarter. Legal & General Group Plc raised its position in ChoiceOne Financial Services by 74.6% in the 2nd quarter. Legal & General Group Plc now owns 1,297 shares of the company’s stock worth $37,000 after buying an additional 554 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in ChoiceOne Financial Services by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,578 shares of the company’s stock worth $254,000 after buying an additional 1,041 shares during the last quarter. Deutsche Bank AG lifted its stake in ChoiceOne Financial Services by 11.3% during the 4th quarter. Deutsche Bank AG now owns 13,349 shares of the company’s stock valued at $394,000 after acquiring an additional 1,351 shares during the period. Finally, Invesco Ltd. lifted its stake in ChoiceOne Financial Services by 7.4% during the 4th quarter. Invesco Ltd. now owns 20,099 shares of the company’s stock valued at $593,000 after acquiring an additional 1,388 shares during the period. 19.90% of the stock is owned by institutional investors.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ:COFS opened at $34.38 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $514.32 million, a PE ratio of 9.47 and a beta of 0.60. The firm’s 50 day moving average price is $33.40 and its 200-day moving average price is $30.93. ChoiceOne Financial Services, Inc. has a twelve month low of $26.09 and a twelve month high of $35.40.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its earnings results on Friday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.05). ChoiceOne Financial Services had a net margin of 22.77% and a return on equity of 12.04%. The business had revenue of $41.64 million for the quarter, compared to the consensus estimate of $43.45 million. Equities research analysts expect that ChoiceOne Financial Services, Inc. will post 3.63 EPS for the current year.

ChoiceOne Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, June 15th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is currently 31.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings raised shares of ChoiceOne Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. DA Davidson raised their price target on ChoiceOne Financial Services from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Hovde Group lifted their price objective on ChoiceOne Financial Services from $32.00 to $35.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.50.

About ChoiceOne Financial Services

ChoiceOne Financial Services, Inc is a bank holding company headquartered in Jackson, Michigan. Through its subsidiary, ChoiceOne Bank, it provides a full suite of banking and financial services to individuals, families, and businesses. The company’s primary operations are concentrated in community banking, spanning retail deposits, commercial and consumer lending, mortgage origination, and treasury management solutions.

ChoiceOne Bank offers checking and savings accounts, certificates of deposit, and online and mobile banking platforms designed to meet the needs of its customers.