ChoiceOne Financial Services, Inc. to Issue Quarterly Dividend of $0.28 (NASDAQ:COFS)

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders 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 raised its dividend payment by an average of 5.1% annually over the last three years and has increased its dividend every year for the last 13 years. ChoiceOne Financial Services has a dividend payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of NASDAQ COFS opened at $31.82 on Thursday. The firm’s 50 day moving average price is $33.91 and its 200-day moving average price is $32.96. The company has a market cap of $285.04 million, a PE ratio of 9.76 and a beta of 0.71. ChoiceOne Financial Services has a 52-week low of $21.52 and a 52-week 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.

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

Analyst Ratings Changes

Separately, DA Davidson decreased their price objective on shares of ChoiceOne Financial Services from $41.00 to $39.00 and set a “buy” rating for the company 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.