ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Down 7.3% in March

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 113,300 shares, a decrease of 7.3% from the March 15th total of 122,200 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 13,500 shares, the short-interest ratio is presently 8.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its position in ChoiceOne Financial Services by 57.3% in the 2nd quarter. Barclays PLC now owns 3,836 shares of the company’s stock worth $89,000 after purchasing an additional 1,398 shares during the last quarter. JPMorgan Chase & Co. grew its position in ChoiceOne Financial Services by 12.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,742 shares of the company’s stock worth $132,000 after purchasing an additional 632 shares during the last quarter. MetLife Investment Management LLC bought a new position in ChoiceOne Financial Services in the 2nd quarter worth about $87,000. Citigroup Inc. bought a new position in ChoiceOne Financial Services in the 4th quarter worth about $83,000. Finally, Wells Fargo & Company MN lifted its stake in shares of ChoiceOne Financial Services by 5,443.8% in the 2nd quarter. Wells Fargo & Company MN now owns 2,661 shares of the company’s stock worth $61,000 after acquiring an additional 2,613 shares during the period. Institutional investors own 19.90% of the company’s stock.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ:COFS opened at $23.39 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.20. ChoiceOne Financial Services has a fifty-two week low of $15.84 and a fifty-two week high of $32.14. The firm has a 50-day simple moving average of $25.91 and a 200 day simple moving average of $25.15. The company has a market cap of $176.83 million, a PE ratio of 8.29 and a beta of 0.65.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its earnings results on Wednesday, January 24th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.64 by $0.06. ChoiceOne Financial Services had a net margin of 18.67% and a return on equity of 11.73%. The firm had revenue of $20.60 million during the quarter, compared to analysts’ expectations of $20.10 million. On average, sell-side analysts anticipate that ChoiceOne Financial Services will post 2.9 EPS for the current year.

ChoiceOne Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.62%. The ex-dividend date was Thursday, March 14th. ChoiceOne Financial Services’s dividend payout ratio (DPR) is 38.30%.

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.