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

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

ChoiceOne Financial Services Price Performance

Shares of NASDAQ COFS traded down $0.71 during mid-day trading on Wednesday, hitting $34.44. 15,896 shares of the stock traded hands, compared to its average volume of 25,369. The company has a market cap of $308.58 million, a PE ratio of 10.86 and a beta of 0.72. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.74 and a quick ratio of 0.74. ChoiceOne Financial Services has a twelve month low of $21.52 and a twelve month high of $38.15. The firm has a 50 day simple moving average of $35.75 and a two-hundred day simple moving average of $31.97.

ChoiceOne Financial Services Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.