ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Short Interest Up 13.8% in July

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 115,500 shares, a growth of 13.8% from the June 30th total of 101,500 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily volume of 10,500 shares, the short-interest ratio is presently 11.0 days.

ChoiceOne Financial Services Stock Performance

Shares of NASDAQ:COFS traded up $0.12 on Wednesday, reaching $27.45. 10,003 shares of the company’s stock were exchanged, compared to its average volume of 12,825. The firm has a market capitalization of $240.74 million, a price-to-earnings ratio of 9.73 and a beta of 0.69. ChoiceOne Financial Services has a fifty-two week low of $15.84 and a fifty-two week high of $32.14. The business’s 50-day moving average is $26.82 and its two-hundred day moving average is $26.33. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.19.

ChoiceOne Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, June 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.93%. ChoiceOne Financial Services’s dividend payout ratio (DPR) is 38.43%.

Insiders Place Their Bets

In other ChoiceOne Financial Services news, CEO Kelly Potes bought 2,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were bought at an average cost of $25.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the chief executive officer now owns 40,133 shares of the company’s stock, valued at $1,003,325. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.92% of the stock is owned by corporate insiders.

Institutional Trading of ChoiceOne Financial Services

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of ChoiceOne Financial Services in the 4th quarter worth about $111,000. CWM LLC increased its holdings in shares of ChoiceOne Financial Services by 33.8% in the 1st quarter. CWM LLC now owns 4,798 shares of the company’s stock worth $131,000 after acquiring an additional 1,211 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of ChoiceOne Financial Services by 7.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,720 shares of the company’s stock worth $622,000 after acquiring an additional 1,425 shares during the period. Empowered Funds LLC increased its holdings in shares of ChoiceOne Financial Services by 7.9% in the 1st quarter. Empowered Funds LLC now owns 23,920 shares of the company’s stock worth $654,000 after acquiring an additional 1,750 shares during the period. Finally, Cerity Partners LLC acquired a new stake in shares of ChoiceOne Financial Services in the 4th quarter worth about $1,351,000. 19.90% of the stock is owned by institutional investors and hedge funds.

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.