Fourthstone LLC Invests $10.96 Million in ChoiceOne Financial Services, Inc. (NASDAQ:COFS)

Fourthstone LLC bought a new position in ChoiceOne Financial Services, Inc. (NASDAQ:COFS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 354,630 shares of the company’s stock, valued at approximately $10,962,000. ChoiceOne Financial Services accounts for 2.4% of Fourthstone LLC’s investment portfolio, making the stock its 13th largest holding. Fourthstone LLC owned approximately 3.96% of ChoiceOne Financial Services as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in ChoiceOne Financial Services by 7.3% in the second quarter. Renaissance Technologies LLC now owns 19,000 shares of the company’s stock valued at $544,000 after buying an additional 1,300 shares during the period. Empowered Funds LLC raised its stake in ChoiceOne Financial Services by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 27,060 shares of the company’s stock valued at $836,000 after acquiring an additional 1,340 shares during the period. Bank of New York Mellon Corp lifted its holdings in ChoiceOne Financial Services by 7.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock valued at $622,000 after purchasing an additional 1,425 shares during the last quarter. Mattson Financial Services LLC bought a new position in ChoiceOne Financial Services during the second quarter worth $47,000. Finally, Vanguard Group Inc. boosted its position in ChoiceOne Financial Services by 0.8% during the first quarter. Vanguard Group Inc. now owns 350,690 shares of the company’s stock worth $9,591,000 after purchasing an additional 2,871 shares during the period. Institutional investors own 19.90% of the company’s stock.

ChoiceOne Financial Services Stock Performance

Shares of NASDAQ:COFS traded up $0.44 during trading on Thursday, reaching $37.27. 16,277 shares of the stock were exchanged, compared to its average volume of 20,843. The firm has a market cap of $333.94 million, a PE ratio of 11.81 and a beta of 0.69. The stock has a 50-day moving average price of $32.66 and a 200-day moving average price of $29.36. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.99. ChoiceOne Financial Services, Inc. has a 12 month low of $21.52 and a 12 month high of $37.49.

Wall Street Analyst Weigh In

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

ChoiceOne Financial Services 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.