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

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) announced 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 dividend on an annualized basis and a yield of 3.52%.

ChoiceOne Financial Services has increased its dividend by an average of 5.1% annually over the last three years and has raised 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 Price Performance

Shares of COFS stock opened at $31.82 on Thursday. ChoiceOne Financial Services has a 12 month low of $21.52 and a 12 month high of $38.15. The stock has a market cap of $285.04 million, a P/E ratio of 9.76 and a beta of 0.71. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.99. The company has a 50 day simple moving average of $33.91 and a two-hundred day simple moving average of $32.96.

ChoiceOne Financial Services (NASDAQ:COFS) last announced its earnings results on Wednesday, January 22nd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates 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, research analysts expect that ChoiceOne Financial Services will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

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