Segall Bryant & Hamill LLC Has $2.18 Million Stake in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Segall Bryant & Hamill LLC boosted its holdings in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 73.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,219 shares of the company’s stock after purchasing an additional 25,846 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in ChoiceOne Financial Services were worth $2,182,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of COFS. Vanguard Group Inc. lifted its stake in shares of ChoiceOne Financial Services by 9.2% in the fourth quarter. Vanguard Group Inc. now owns 438,579 shares of the company’s stock valued at $15,631,000 after buying an additional 36,909 shares in the last quarter. Fourthstone LLC bought a new position in ChoiceOne Financial Services in the 3rd quarter valued at about $10,962,000. The Manufacturers Life Insurance Company bought a new position in ChoiceOne Financial Services in the 3rd quarter valued at about $6,906,000. Geode Capital Management LLC boosted its stake in ChoiceOne Financial Services by 21.2% during the 3rd quarter. Geode Capital Management LLC now owns 187,342 shares of the company’s stock valued at $5,792,000 after purchasing an additional 32,725 shares during the last quarter. Finally, Zacks Investment Management bought a new stake in ChoiceOne Financial Services during the 3rd quarter worth approximately $3,625,000. Institutional investors and hedge funds own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COFS. Hovde Group initiated coverage on ChoiceOne Financial Services in a research report on Monday, March 10th. They set an “outperform” rating and a $35.00 target price on the stock. Janney Montgomery Scott raised shares of ChoiceOne Financial Services from a “neutral” rating to a “buy” rating in a report on Monday, March 3rd. Finally, DA Davidson lowered their target price on shares of ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating for the company in a report on Monday, January 27th.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ COFS opened at $29.21 on Friday. The company has a market capitalization of $261.98 million, a PE ratio of 8.96 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.99. The stock’s 50 day moving average price is $31.80 and its 200-day moving average price is $33.03. ChoiceOne Financial Services, Inc. has a twelve month low of $21.52 and a twelve month high of $38.15.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. On average, equities analysts anticipate that ChoiceOne Financial Services, Inc. will post 3.67 EPS for the current year.

ChoiceOne Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, March 14th. This represents a $1.12 annualized dividend and a yield of 3.83%. ChoiceOne Financial Services’s payout ratio is currently 34.36%.

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.