Barclays PLC Grows Stock Position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Barclays PLC boosted its stake in shares of ChoiceOne Financial Services, Inc. (NASDAQ:COFS) by 173.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 13,347 shares of the company’s stock after buying an additional 8,463 shares during the quarter. Barclays PLC’s holdings in ChoiceOne Financial Services were worth $412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Zacks Investment Management purchased a new stake in shares of ChoiceOne Financial Services during the third quarter valued at approximately $3,625,000. State Street Corp raised its holdings in ChoiceOne Financial Services by 6.8% during the 3rd quarter. State Street Corp now owns 97,095 shares of the company’s stock valued at $3,001,000 after buying an additional 6,209 shares during the last quarter. Jacobs Asset Management LLC purchased a new stake in ChoiceOne Financial Services during the 3rd quarter valued at $3,091,000. Fourthstone LLC bought a new stake in ChoiceOne Financial Services in the 3rd quarter worth $10,962,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of ChoiceOne Financial Services in the third quarter valued at about $6,906,000. 19.90% of the stock is currently owned by institutional investors.

ChoiceOne Financial Services Price Performance

Shares of COFS stock opened at $35.10 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. ChoiceOne Financial Services, Inc. has a fifty-two week low of $21.52 and a fifty-two week high of $38.15. The firm has a market cap of $314.43 million, a P/E ratio of 11.07 and a beta of 0.71. The business’s 50 day moving average price is $35.75 and its 200-day moving average price is $31.32.

ChoiceOne Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.28 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.12 annualized dividend and a yield of 3.19%. This is a boost from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. ChoiceOne Financial Services’s payout ratio is 35.33%.

Analyst Upgrades and Downgrades

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

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.