Cerity Partners LLC Makes New $1.35 Million Investment in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Cerity Partners LLC purchased a new position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 46,124 shares of the company’s stock, valued at approximately $1,351,000. Cerity Partners LLC owned approximately 0.61% of ChoiceOne Financial Services at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in COFS. BlackRock Inc. boosted its stake in shares of ChoiceOne Financial Services by 876.8% in the 2nd quarter. BlackRock Inc. now owns 339,785 shares of the company’s stock valued at $7,815,000 after purchasing an additional 304,999 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of ChoiceOne Financial Services by 124.2% in the 2nd quarter. Geode Capital Management LLC now owns 130,860 shares of the company’s stock valued at $3,010,000 after purchasing an additional 72,490 shares in the last quarter. State Street Corp boosted its stake in shares of ChoiceOne Financial Services by 253.5% in the 2nd quarter. State Street Corp now owns 77,846 shares of the company’s stock valued at $1,790,000 after purchasing an additional 55,823 shares in the last quarter. Northern Trust Corp boosted its stake in shares of ChoiceOne Financial Services by 353.2% in the 2nd quarter. Northern Trust Corp now owns 56,588 shares of the company’s stock valued at $1,302,000 after purchasing an additional 44,102 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its stake in shares of ChoiceOne Financial Services by 138.8% in the 1st quarter. Susquehanna International Group LLP now owns 39,169 shares of the company’s stock valued at $989,000 after purchasing an additional 22,766 shares in the last quarter. Hedge funds and other institutional investors own 19.90% of the company’s stock.

ChoiceOne Financial Services Trading Up 6.2 %

NASDAQ:COFS opened at $24.11 on Friday. The company has a fifty day moving average of $25.76 and a 200 day moving average of $25.20. ChoiceOne Financial Services, Inc. has a 52 week low of $15.84 and a 52 week high of $32.14. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $182.27 million, a P/E ratio of 8.55 and a beta of 0.65.

ChoiceOne Financial Services (NASDAQ:COFS) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $20.60 million during the quarter, compared to analyst estimates of $20.10 million. On average, research analysts predict that ChoiceOne Financial Services, Inc. will post 2.9 earnings per share for the current year.

ChoiceOne Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.08 dividend on an annualized basis and a yield of 4.48%. ChoiceOne Financial Services’s dividend payout ratio is currently 38.30%.

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.