ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Announces $0.28 Quarterly Dividend

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.28 per share on Monday, March 31st. This represents a $1.12 annualized dividend and a dividend yield of 3.52%.

ChoiceOne Financial Services has increased its dividend payment by an average of 5.1% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. ChoiceOne Financial Services has a payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ChoiceOne Financial Services to earn $3.85 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 29.1%.

ChoiceOne Financial Services Price Performance

ChoiceOne Financial Services stock remained flat at $31.82 during midday trading on Wednesday. 39,946 shares of the company were exchanged, compared to its average volume of 28,629. ChoiceOne Financial Services has a 1 year low of $21.52 and a 1 year high of $38.15. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $285.04 million, a price-to-earnings ratio of 9.76 and a beta of 0.71. The firm has a fifty day moving average of $33.96 and a two-hundred day moving average of $32.96.

ChoiceOne Financial Services (NASDAQ:COFS) last issued its earnings results on Wednesday, January 22nd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. ChoiceOne Financial Services had a return on equity of 12.44% and a net margin of 19.21%. As a group, sell-side analysts predict that ChoiceOne Financial Services will post 3.67 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, DA Davidson dropped their target price on ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, January 27th.

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.