ChoiceOne Financial Services (NASDAQ:COFS) Issues Quarterly Earnings Results

ChoiceOne Financial Services (NASDAQ:COFS) announced its quarterly earnings results on Wednesday. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01, Zacks reports. ChoiceOne Financial Services had a net margin of 18.41% and a return on equity of 11.79%.

ChoiceOne Financial Services Price Performance

ChoiceOne Financial Services stock opened at $34.44 on Thursday. ChoiceOne Financial Services has a 1 year low of $21.52 and a 1 year high of $38.15. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $308.58 million, a P/E ratio of 10.86 and a beta of 0.72. The business has a 50-day moving average of $35.72 and a 200-day moving average of $31.99.

ChoiceOne Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 3.25%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 35.33%.

Analyst Upgrades and Downgrades

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