ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Plans $0.28 Quarterly Dividend

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.28 per share on Monday, March 31st. This represents a $1.12 annualized dividend and a dividend yield of 3.52%.

ChoiceOne Financial Services has increased its dividend by an average of 5.1% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. ChoiceOne Financial Services has a dividend payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect ChoiceOne Financial Services to earn $3.85 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 29.1%.

ChoiceOne Financial Services Stock Performance

Shares of COFS remained flat at $31.82 during midday trading on Wednesday. 39,946 shares of the stock traded hands, compared to its average volume of 28,629. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.74 and a quick ratio of 0.74. ChoiceOne Financial Services has a 52 week low of $21.52 and a 52 week high of $38.15. The company’s fifty day simple moving average is $33.96 and its 200 day simple moving average is $32.96. The company has a market capitalization of $285.04 million, a price-to-earnings ratio of 9.76 and a beta of 0.71.

ChoiceOne Financial Services (NASDAQ:COFS) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. As a group, equities research analysts forecast that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, DA Davidson cut their price objective on shares of ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 27th.

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.