JPMorgan Chase & Co. Grows Stock Holdings in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

JPMorgan Chase & Co. boosted its holdings in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 157.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,887 shares of the company’s stock after purchasing an additional 6,652 shares during the quarter. JPMorgan Chase & Co.’s holdings in ChoiceOne Financial Services were worth $337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new position in shares of ChoiceOne Financial Services in the 2nd quarter valued at $47,000. Barclays PLC lifted its position in ChoiceOne Financial Services by 173.3% in the third quarter. Barclays PLC now owns 13,347 shares of the company’s stock valued at $412,000 after acquiring an additional 8,463 shares during the last quarter. Renaissance Technologies LLC boosted its stake in ChoiceOne Financial Services by 7.3% in the second quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock valued at $544,000 after acquiring an additional 1,300 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ChoiceOne Financial Services by 21.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,443 shares of the company’s stock valued at $694,000 after acquiring an additional 3,986 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of ChoiceOne Financial Services by 5.2% during the third quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock worth $836,000 after purchasing an additional 1,340 shares during the last quarter. 19.90% of the stock is currently owned by institutional investors and hedge funds.

ChoiceOne Financial Services Price Performance

COFS stock opened at $33.86 on Friday. 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 company has a market capitalization of $303.39 million, a P/E ratio of 10.39 and a beta of 0.72. The business has a 50 day simple moving average of $35.51 and a 200-day simple moving average of $32.26. 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 issued its quarterly earnings results on Wednesday, January 22nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. ChoiceOne Financial Services had a net margin of 19.21% and a return on equity of 12.44%. As a group, equities analysts anticipate that ChoiceOne Financial Services, Inc. will post 3.8 EPS for the current year.

ChoiceOne Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.28 per share. This is an increase from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.12 annualized dividend and a dividend yield of 3.31%. ChoiceOne Financial Services’s dividend payout ratio is 34.36%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reduced their target price on ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating for the company in a report on Monday.

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.