Short Interest in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Expands By 8.3%

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 111,400 shares, a growth of 8.3% from the May 31st total of 102,900 shares. Based on an average trading volume of 8,300 shares, the days-to-cover ratio is currently 13.4 days. Currently, 1.6% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in ChoiceOne Financial Services in the 4th quarter valued at $111,000. CWM LLC raised its holdings in shares of ChoiceOne Financial Services by 33.8% during the 1st quarter. CWM LLC now owns 4,798 shares of the company’s stock valued at $131,000 after buying an additional 1,211 shares during the period. Empowered Funds LLC lifted its position in ChoiceOne Financial Services by 7.9% during the 1st 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. Cerity Partners LLC purchased a new position in ChoiceOne Financial Services in the 4th quarter worth approximately $1,351,000. Finally, Vanguard Group Inc. grew its position in ChoiceOne Financial Services by 0.8% in the first quarter. Vanguard Group Inc. now owns 350,690 shares of the company’s stock valued at $9,591,000 after acquiring an additional 2,871 shares in the last quarter. 19.90% of the stock is owned by institutional investors and hedge funds.

ChoiceOne Financial Services Trading Down 0.1 %

NASDAQ COFS traded down $0.02 during mid-day trading on Wednesday, reaching $28.68. 1,488 shares of the stock were exchanged, compared to its average volume of 11,938. The stock has a market capitalization of $217.11 million, a PE ratio of 10.21 and a beta of 0.69. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.71 and a current ratio of 0.71. ChoiceOne Financial Services has a 1-year low of $15.84 and a 1-year high of $32.14. The business’s fifty day simple moving average is $25.98 and its 200 day simple moving average is $26.57.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.15. ChoiceOne Financial Services had a return on equity of 11.15% and a net margin of 17.53%. The business had revenue of $20.53 million during the quarter, compared to the consensus estimate of $19.40 million. On average, research analysts anticipate that ChoiceOne Financial Services will post 3.02 earnings per share for the current fiscal year.

ChoiceOne Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Friday, June 14th. ChoiceOne Financial Services’s dividend payout ratio is currently 38.43%.

About ChoiceOne Financial Services

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.