ChoiceOne Financial Services (NASDAQ:COFS) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

ChoiceOne Financial Services (NASDAQ:COFS) posted its quarterly earnings data on Wednesday. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01, Zacks reports. ChoiceOne Financial Services had a return on equity of 11.79% and a net margin of 18.41%.

ChoiceOne Financial Services Stock Down 2.0 %

ChoiceOne Financial Services stock traded down $0.71 during mid-day trading on Wednesday, reaching $34.44. The stock had a trading volume of 15,896 shares, compared to its average volume of 25,369. The company has a market capitalization of $308.58 million, a price-to-earnings ratio of 10.86 and a beta of 0.72. ChoiceOne Financial Services has a one year low of $21.52 and a one year high of $38.15. 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 50-day moving average price of $35.75 and a two-hundred day moving average price of $31.97.

ChoiceOne Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.25%. This is an increase from ChoiceOne Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, December 13th. ChoiceOne Financial Services’s payout ratio is 35.33%.

Wall Street Analyst Weigh In

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

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.