ChoiceOne Financial Services, Inc. (COFS) To Go Ex-Dividend on March 14th

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) announced 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 3.85%. The ex-dividend date of this dividend is Friday, March 14th.

ChoiceOne Financial Services has increased its dividend payment by an average of 5.1% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. ChoiceOne Financial Services has a dividend payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Equities 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

NASDAQ:COFS opened at $29.07 on Wednesday. The firm’s fifty day simple moving average is $33.05 and its 200 day simple moving average is $33.20. ChoiceOne Financial Services has a twelve month low of $21.52 and a twelve month 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 $260.41 million, a price-to-earnings ratio of 8.92 and a beta of 0.72.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its earnings results on Wednesday, January 22nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating 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 research analysts expect that ChoiceOne Financial Services will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COFS. Hovde Group assumed coverage on ChoiceOne Financial Services in a report on Monday. They issued an “outperform” rating and a $35.00 target price for the company. DA Davidson dropped 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 research report on Monday, January 27th. Finally, Janney Montgomery Scott upgraded ChoiceOne Financial Services from a “neutral” rating to a “buy” rating in a report on Monday, March 3rd.

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.