Fourthstone LLC Makes New $10.96 Million Investment in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Fourthstone LLC purchased a new stake in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) in the third quarter, HoldingsChannel reports. The firm purchased 354,630 shares of the company’s stock, valued at approximately $10,962,000. ChoiceOne Financial Services makes up approximately 2.4% of Fourthstone LLC’s holdings, making the stock its 13th largest position.

Several other institutional investors have also made changes to their positions in the stock. Mattson Financial Services LLC acquired a new stake in ChoiceOne Financial Services during the second quarter worth approximately $47,000. Renaissance Technologies LLC lifted its position in shares of ChoiceOne Financial Services by 7.3% during the 2nd quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock valued at $544,000 after acquiring an additional 1,300 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of ChoiceOne Financial Services by 7.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock worth $622,000 after purchasing an additional 1,425 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ChoiceOne Financial Services by 21.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,443 shares of the company’s stock worth $694,000 after purchasing an additional 3,986 shares during the period. Finally, Empowered Funds LLC raised its stake in ChoiceOne Financial Services by 5.2% in the third quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock valued at $836,000 after purchasing an additional 1,340 shares in the last quarter. 19.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, DA Davidson assumed coverage on shares of ChoiceOne Financial Services in a research report on Friday, October 18th. They issued a “buy” rating and a $37.00 target price for the company.

ChoiceOne Financial Services Price Performance

NASDAQ:COFS traded up $0.44 during trading hours on Thursday, hitting $37.27. The company’s stock had a trading volume of 16,277 shares, compared to its average volume of 20,843. 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 company has a market capitalization of $333.94 million, a P/E ratio of 11.81 and a beta of 0.69. ChoiceOne Financial Services, Inc. has a twelve month low of $21.52 and a twelve month high of $37.49. The stock has a fifty day simple moving average of $32.66 and a 200-day simple moving average of $29.36.

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.