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

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

ChoiceOne Financial Services Stock Performance

Shares of NASDAQ COFS opened at $34.56 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.74 and a quick ratio of 0.74. ChoiceOne Financial Services has a 1 year low of $21.52 and a 1 year high of $38.15. The firm has a fifty day moving average price of $35.70 and a 200-day moving average price of $32.01. The stock has a market cap of $309.66 million, a PE ratio of 10.60 and a beta of 0.72.

ChoiceOne Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $0.28 dividend. This is a positive change 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%. The ex-dividend date was Friday, December 13th. ChoiceOne Financial Services’s dividend payout ratio is presently 34.36%.

Wall Street Analysts Forecast Growth

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