ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Down 8.9% in June

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 101,500 shares, a drop of 8.9% from the June 15th total of 111,400 shares. Based on an average trading volume of 9,500 shares, the short-interest ratio is currently 10.7 days. Currently, 1.5% of the company’s shares are sold short.

ChoiceOne Financial Services Trading Down 9.7 %

ChoiceOne Financial Services stock traded down $3.06 during midday trading on Wednesday, hitting $28.39. 17,831 shares of the stock were exchanged, compared to its average volume of 12,002. The stock has a market capitalization of $214.87 million, a PE ratio of 10.10 and a beta of 0.69. The company has a fifty day simple moving average of $26.58 and a two-hundred day simple moving average of $26.36. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.19. ChoiceOne Financial Services has a 52 week low of $15.84 and a 52 week high of $32.14.

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

ChoiceOne Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Friday, June 14th. ChoiceOne Financial Services’s dividend payout ratio is currently 38.43%.

Institutional Investors Weigh In On ChoiceOne Financial Services

Several large investors have recently made changes to their positions in COFS. SG Americas Securities LLC acquired a new position in ChoiceOne Financial Services in the 4th quarter worth $111,000. CWM LLC raised its position in ChoiceOne Financial Services by 33.8% in 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 last quarter. Empowered Funds LLC lifted its stake in ChoiceOne Financial Services by 7.9% in the 1st quarter. Empowered Funds LLC now owns 23,920 shares of the company’s stock valued at $654,000 after acquiring an additional 1,750 shares in the last quarter. Cerity Partners LLC acquired a new position in ChoiceOne Financial Services during the 4th quarter worth approximately $1,351,000. Finally, Vanguard Group Inc. grew its stake in shares of ChoiceOne Financial Services by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 350,690 shares of the company’s stock worth $9,591,000 after acquiring an additional 2,871 shares in the last quarter. 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.