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

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 313,000 shares, a growth of 8.2% from the November 30th total of 289,300 shares. Based on an average daily volume of 31,300 shares, the short-interest ratio is presently 10.0 days.

ChoiceOne Financial Services Stock Up 0.0 %

Shares of NASDAQ COFS traded up $0.01 during mid-day trading on Wednesday, hitting $35.64. The company had a trading volume of 23,788 shares, compared to its average volume of 21,334. ChoiceOne Financial Services has a 1-year low of $21.52 and a 1-year high of $38.15. The company has a market capitalization of $319.26 million, a PE ratio of 11.24 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.74 and a quick ratio of 0.74. The business’s 50-day simple moving average is $35.60 and its 200 day simple moving average is $31.20.

ChoiceOne Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Friday, December 13th. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. ChoiceOne Financial Services’s dividend payout ratio (DPR) is presently 35.33%.

Wall Street Analyst Weigh In

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

Institutional Trading of ChoiceOne Financial Services

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

About ChoiceOne Financial Services

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.