Barclays PLC Acquires 8,463 Shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Barclays PLC increased its holdings in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 173.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,347 shares of the company’s stock after purchasing an additional 8,463 shares during the period. Barclays PLC’s holdings in ChoiceOne Financial Services were worth $412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fourthstone LLC bought a new stake in shares of ChoiceOne Financial Services during the third quarter worth $10,962,000. The Manufacturers Life Insurance Company bought a new position in ChoiceOne Financial Services during the 3rd quarter worth about $6,906,000. Zacks Investment Management acquired a new stake in shares of ChoiceOne Financial Services in the 3rd quarter valued at about $3,625,000. Jacobs Asset Management LLC bought a new stake in shares of ChoiceOne Financial Services in the third quarter valued at about $3,091,000. Finally, Curi RMB Capital LLC acquired a new position in shares of ChoiceOne Financial Services during the third quarter worth about $2,192,000. 19.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ChoiceOne Financial Services Stock Performance

Shares of COFS stock opened at $34.69 on Friday. ChoiceOne Financial Services, Inc. has a 12 month low of $21.52 and a 12 month high of $38.15. The company’s fifty day simple moving average is $35.79 and its 200-day simple moving average is $31.84. The firm has a market cap of $310.82 million, a PE ratio of 10.94 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.

ChoiceOne Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.28 per share. 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 annualized dividend and a yield of 3.23%. ChoiceOne Financial Services’s payout ratio is 35.33%.

ChoiceOne Financial Services 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.