ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Update

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 111,400 shares, an increase of 8.3% from the May 31st total of 102,900 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 8,300 shares, the days-to-cover ratio is presently 13.4 days.

ChoiceOne Financial Services Trading Down 0.1 %

Shares of COFS stock traded down $0.02 on Wednesday, hitting $28.68. The stock had a trading volume of 1,488 shares, compared to its average volume of 11,938. The firm has a market cap of $217.11 million, a P/E ratio of 10.21 and a beta of 0.69. ChoiceOne Financial Services has a twelve month low of $15.84 and a twelve month high of $32.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.19. The company has a fifty day moving average price of $25.98 and a two-hundred day moving average price of $26.57.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.15. The company had revenue of $20.53 million during the quarter, compared to the consensus estimate of $19.40 million. ChoiceOne Financial Services had a return on equity of 11.15% and a net margin of 17.53%. As a group, analysts forecast that ChoiceOne Financial Services will post 3.02 earnings per share for the current fiscal year.

ChoiceOne Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, June 14th. This represents a $1.08 annualized dividend and a yield of 3.77%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is currently 38.43%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of COFS. Vanguard Group Inc. increased its position in shares of ChoiceOne Financial Services by 0.8% during the first quarter. Vanguard Group Inc. now owns 350,690 shares of the company’s stock worth $9,591,000 after acquiring an additional 2,871 shares in the last quarter. Empowered Funds LLC boosted its stake in ChoiceOne Financial Services by 7.9% in the 1st quarter. Empowered Funds LLC now owns 23,920 shares of the company’s stock worth $654,000 after purchasing an additional 1,750 shares during the period. CWM LLC increased its holdings in ChoiceOne Financial Services by 33.8% during the 1st quarter. CWM LLC now owns 4,798 shares of the company’s stock worth $131,000 after purchasing an additional 1,211 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of ChoiceOne Financial Services in the 4th quarter valued at about $1,351,000. Finally, SG Americas Securities LLC bought a new stake in shares of ChoiceOne Financial Services in the fourth quarter valued at about $111,000. Institutional investors own 19.90% of the company’s 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.