ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Update

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 313,000 shares, an increase of 8.2% from the November 30th total of 289,300 shares. Based on an average trading volume of 31,300 shares, the short-interest ratio is currently 10.0 days.

Wall Street Analysts Forecast Growth

Separately, DA Davidson started coverage on ChoiceOne Financial Services in a report on Friday, October 18th. They issued a “buy” rating and a $37.00 price target for the company.

ChoiceOne Financial Services Trading Up 0.0 %

Shares of NASDAQ COFS traded up $0.01 during trading on Wednesday, hitting $35.64. 23,788 shares of the company were exchanged, compared to its average volume of 21,334. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. ChoiceOne Financial Services has a 12-month low of $21.52 and a 12-month high of $38.15. The company has a fifty day moving average price of $35.60 and a 200-day moving average price of $31.20. The firm has a market capitalization of $319.26 million, a PE ratio of 11.24 and a beta of 0.71.

ChoiceOne Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.14%. This is a positive change from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, December 13th. ChoiceOne Financial Services’s payout ratio is presently 35.33%.

Institutional Trading of ChoiceOne Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in ChoiceOne Financial Services by 7.3% in the second quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock worth $544,000 after acquiring an additional 1,300 shares during the period. Empowered Funds LLC lifted its stake in shares of ChoiceOne Financial Services by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock valued at $836,000 after purchasing an additional 1,340 shares during the last quarter. Bank of New York Mellon Corp grew its holdings 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 worth $622,000 after purchasing an additional 1,425 shares during the period. Mattson Financial Services LLC acquired a new stake in shares of ChoiceOne Financial Services during the 2nd quarter worth about $47,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in ChoiceOne Financial Services by 21.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,443 shares of the company’s stock valued at $694,000 after buying an additional 3,986 shares during the period. Institutional investors and hedge funds 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.