Insider Buying: ChoiceOne Financial Services, Inc. (NASDAQ:COFS) President Purchases $13,375.00 in Stock

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) President Michael J. Burke, Jr. bought 500 shares of the company’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $26.75 per share, for a total transaction of $13,375.00. Following the completion of the transaction, the president now directly owns 2,500 shares of the company’s stock, valued at approximately $66,875. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

ChoiceOne Financial Services Price Performance

NASDAQ COFS opened at $27.37 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $207.22 million, a P/E ratio of 9.74 and a beta of 0.69. The company has a 50-day moving average price of $27.15 and a 200-day moving average price of $26.26. ChoiceOne Financial Services, Inc. has a 52 week low of $15.84 and a 52 week high of $32.14.

ChoiceOne Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.08 annualized dividend and a yield of 3.95%. ChoiceOne Financial Services’s payout ratio is presently 38.43%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in ChoiceOne Financial Services in the 4th quarter worth $111,000. CWM LLC raised its stake in shares of ChoiceOne Financial Services by 33.8% in the first quarter. CWM LLC now owns 4,798 shares of the company’s stock worth $131,000 after buying an additional 1,211 shares during the period. Renaissance Technologies LLC lifted its position in shares of ChoiceOne Financial Services by 7.3% during the 2nd quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock valued at $544,000 after buying an additional 1,300 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of ChoiceOne Financial Services by 7.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock valued at $622,000 after acquiring an additional 1,425 shares during the period. Finally, Empowered Funds LLC increased its holdings in ChoiceOne Financial Services by 7.9% in 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. Hedge funds and other institutional investors own 19.90% of the company’s stock.

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.