ChoiceOne Financial Services (NASDAQ:COFS) Announces Earnings Results

ChoiceOne Financial Services (NASDAQ:COFS) announced its quarterly earnings results on Wednesday. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01, Zacks reports. ChoiceOne Financial Services had a net margin of 19.21% and a return on equity of 12.44%.

ChoiceOne Financial Services Stock Up 0.3 %

Shares of NASDAQ:COFS opened at $34.56 on Friday. The company has a market cap of $309.66 million, a price-to-earnings ratio of 10.60 and a beta of 0.72. ChoiceOne Financial Services has a 12 month low of $21.52 and a 12 month high of $38.15. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $35.70 and a 200 day moving average price of $32.01.

ChoiceOne Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.24%. ChoiceOne Financial Services’s payout ratio is 34.36%.

Wall Street Analysts Forecast Growth

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