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

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 266,000 shares, a growth of 25.4% from the October 15th total of 212,100 shares. Based on an average trading volume of 37,300 shares, the days-to-cover ratio is currently 7.1 days.

ChoiceOne Financial Services Price Performance

Shares of NASDAQ COFS traded down $0.05 during trading on Friday, hitting $35.54. 33,768 shares of the company were exchanged, compared to its average volume of 36,809. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.74 and a quick ratio of 0.72. ChoiceOne Financial Services has a 1 year low of $21.52 and a 1 year high of $37.00. The firm’s fifty day moving average price is $31.82 and its 200 day moving average price is $28.80. The company has a market cap of $318.44 million, a price-to-earnings ratio of 11.21 and a beta of 0.69.

ChoiceOne Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, September 13th. ChoiceOne Financial Services’s dividend payout ratio is presently 34.07%.

Analyst Ratings Changes

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

Institutional Trading of ChoiceOne Financial Services

Hedge funds have recently made changes to their positions in the stock. Mattson Financial Services LLC acquired a new position in shares of ChoiceOne Financial Services during the 2nd quarter valued at $47,000. Barclays PLC grew its stake in ChoiceOne Financial Services by 173.3% during the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock valued at $412,000 after acquiring an additional 8,463 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of ChoiceOne Financial Services by 7.3% in the second quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock worth $544,000 after acquiring an additional 1,300 shares during the last quarter. Bank of New York Mellon Corp increased its position in ChoiceOne Financial Services by 7.0% in 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in ChoiceOne Financial Services by 21.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,443 shares of the company’s stock valued at $694,000 after acquiring an additional 3,986 shares in the last quarter. Institutional investors and hedge funds own 19.90% of the company’s stock.

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.