Choiceone Financial Services Inc chart

Last update: 2022-12-30
Key statistics and financials
Revenue per share 10.65
Dividend & Yield1.00$ (4.65%)
Beta 0.42
Market capitalization 166.14M
Operating cash flow 40.16M
ESG Scores unknown

Company description

ChoiceOne Financial Services, Inc. operates as the bank holding company for ChoiceOne Bank that provides community 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. It also provides commercial loans, such as business, industry, agricultural, construction, inventory, and real estate loans; and consumer loans comprising direct and indirect loans to consumers and purchasers of residential and real properties. In addition, the company offers safe deposit and automated transaction machine services; and alternative investment products, including annuities and mutual funds, as well as sells insurance policies, such as life and health for commercial and consumer clients. It operates 32 full-service offices in Kent, Muskegon, Newaygo, and Ottawa, Lapeer, Macomb, and St. Clair counties, Michigan. The company also operates three loan production offices. ChoiceOne Financial Services, Inc. was founded in 1898 and is headquartered in Sparta, Michigan.

Sector: Financial Services - Industry: Banks—Regional

Financial data

Diluted earning per share

Net income vs Operating income

Asset vs Liabilities

Similar Companies
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Financial Statements

Cashflow Statement 2018-12-31 2019-12-31 2020-12-31 2021-12-31
Change To Liabilities
Total Cashflows From Investing Activities -43.85M 36.35M -250.75M -521.37M
Net Borrowings -17.38M -3.63M -23.87M 73.17M
Total Cash From Financing Activities 16.75M -5.69M 262.23M 436.04M
Change To Operating Activities -302k 635k -6.72M 297k
Issuance Of Stock 77k 142k 134k 139k
Net Income 7.33M 7.17M 15.61M 22.04M
Change In Cash -17.15M 39.87M 19.96M -47.63M
Effect Of Exchange Rate
Total Cash From Operating Activities 9.96M 9.2M 8.48M 37.7M
Depreciation 2.08M 3.13M 7.71M 12.43M
Change To Account Receivables
Other Cashflows From Financing Activities 37.16M 3.69M 292.14M 377.72M
Change To Netincome 848k -1.73M -8.12M 2.94M
Capital Expenditures -4.21M -766k -1.85M -2.76M

Income Statement 2018-12-31 2019-12-31 2020-12-31 2021-12-31
Research Development
Income Before Tax 8.49M 8.46M 18.89M 26.5M
Net Income 7.33M 7.17M 15.61M 22.04M
Selling General Administrative 17.99M 25.21M 44.23M 46.13M
Gross Profit 28.95M 36.65M 69.77M 79.39M
Ebit
Operating Income 8.67M 8.57M 20.83M 28.58M
Interest Expense
Income Tax Expense 1.16M 1.29M 3.27M 4.46M
Total Revenue 28.95M 36.65M 69.77M 79.39M
Cost Of Revenue
Total Other Income ExpenseNet -185k -110k -1.95M -2.08M
Net Income From Continuing Ops 7.33M 7.17M 15.61M 22.04M
Net Income Applicable To Common Shares 7.33M 7.17M 15.61M 22.04M

Balance Sheet Statement 2018-12-31 2019-12-31 2020-12-31 2021-12-31
Total Liabilities 590.07M 1.19B 1.69B 2.15B
Total Stockholder Equity 80.48M 192.14M 227.27M 221.67M
Other Current Liabilities
Total Assets 670.54M 1.39B 1.92B 2.37B
Common Stock 54.52M 162.61M 178.75M 171.91M
Other Current Assets 1.61M 16.33M 12.92M 9.35M
Retained Earnings 26.69M 28.05M 37.49M 52.33M
Treasury Stock -732k 1.48M 11.03M -2.58M
Cash 18.91M 46.33M 79.52M 31.89M
Total Current Liabilities 586.82M 1.19B 1.67B 2.1B
Other Stockholder Equity -732k 1.48M 11.03M -2.58M
Property, Plant, and Equipment 15.88M 24.27M 29.49M 29.88M
Total Current Assets 20.62M 63.58M 92.71M 41.43M
Net Tangible Assets 66.75M 133.26M 161.49M 157.76M
Net Receivables
Accounts Payable 577.01M 1.15B 1.67B 2.05B


Insider Transactions

Here are the insider transactions of stock shares related to Choiceone Financial Services Inc:

Filer Name Transaction Text Ownership Date Filer Relation Shares
BURROUGH ERIC EPurchase at price 22.53 per share.D2022-11-15Director10k
HENDON JACK GStock Award(Grant) at price 22.82 per share.I2022-10-31Director2k
HENDON JACK GPurchase at price 22.82 per share.I2022-10-31Director2k
HENDON JACK GStock Award(Grant) at price 21.72 per share.I2022-09-30Director115
ESSEX BRUCE JOHN JR.Stock Award(Grant) at price 21.72 per share.I2022-09-30Director115
NYBLAD NELS WStock Award(Grant) at price 21.72 per share.I2022-09-30Director506
PAGE ROXANNE MStock Award(Grant) at price 21.72 per share.D2022-09-30Director115
BROPHY KEITH DStock Award(Grant) at price 21.72 per share.I2022-09-30Director311
ARMOCK GREG LStock Award(Grant) at price 21.72 per share.I2022-09-30Director507
MCGINNIS BRADLEY FStock Award(Grant) at price 21.72 per share.D2022-09-30Director506
BURROUGH ERIC EStock Award(Grant) at price 21.72 per share.D2022-09-30Director506
MCCONNELL GREGORY AStock Award(Grant) at price 21.72 per share.D2022-09-30Director115
BURNS HAROLD JStock Award(Grant) at price 21.72 per share.D2022-09-30Director507
CHURCHILL DAVID JStock Award(Grant) at price 21.72 per share.D2022-09-30Director213
COULTER CURT EStock Award(Grant) at price 21.72 per share.D2022-09-30Director311
WENDLING MICHELLE MStock Award(Grant) at price 21.72 per share.D2022-09-30Director213
BUSH DAVID HStock Award(Grant) at price 20.14 per share.D2022-07-01Director230
CRONIN PATRICK AStock Award(Grant) at price 20.14 per share.I2022-07-01Director125
HENDON JACK GStock Award(Grant) at price 20.14 per share.I2022-07-01Director124
NYBLAD NELS WStock Award(Grant) at price 20.14 per share.I2022-07-01Director547
PAGE ROXANNE MStock Award(Grant) at price 20.14 per share.D2022-07-01Director125
BROPHY KEITH DStock Award(Grant) at price 20.14 per share.I2022-07-01Director335
ARMOCK GREG LStock Award(Grant) at price 20.14 per share.I2022-07-01Director546
MCGINNIS BRADLEY FStock Award(Grant) at price 20.14 per share.D2022-07-01Director546
BURROUGH ERIC EStock Award(Grant) at price 20.14 per share.D2022-07-01Director547
MCCONNELL GREGORY AStock Award(Grant) at price 20.14 per share.D2022-07-01Director125
BURNS HAROLD JStock Award(Grant) at price 20.14 per share.D2022-07-01Director546
CHURCHILL DAVID JStock Award(Grant) at price 20.14 per share.D2022-07-01Director230
MCCONNELL GREGORY APurchase at price 21.07 per share.D2022-05-16Director5k
MCGINNIS BRADLEY FPurchase at price 22.74 per share.I2022-05-10Director1k
BUSH DAVID HStock Award(Grant) at price 25.06 per share.D2022-04-01Director185
CRONIN PATRICK AStock Award(Grant) at price 25.06 per share.I2022-04-01Director100
CADY BRUCE JStock Award(Grant) at price 25.06 per share.D2022-04-01Director100
HENDON JACK GStock Award(Grant) at price 25.06 per share.I2022-04-01Director100
NYBLAD NELS WStock Award(Grant) at price 25.06 per share.I2022-04-01Director439
PAGE ROXANNE MStock Award(Grant) at price 25.06 per share.D2022-04-01Director100
BROPHY KEITH DStock Award(Grant) at price 25.06 per share.I2022-04-01Director270
ARMOCK GREG LStock Award(Grant) at price 25.06 per share.I2022-04-01Director439
MCGINNIS BRADLEY FStock Award(Grant) at price 25.06 per share.D2022-04-01Director439
BURROUGH ERIC EStock Award(Grant) at price 25.06 per share.D2022-04-01Director439
MCCONNELL GREGORY AStock Award(Grant) at price 25.06 per share.D2022-04-01Director100
BURNS HAROLD JStock Award(Grant) at price 25.06 per share.D2022-04-01Director440
POTES KELLY JStock Award(Grant) at price 0.00 per share.D2022-02-15Chief Executive Officer1.97k
BRAFORD LEE AStock Award(Grant) at price 0.00 per share.D2022-02-15Officer403
BROLICK HEATHER DStock Award(Grant) at price 0.00 per share.D2022-02-15Officer403
BROPHY KEITH DStock Award(Grant) at price 26.01 per share.I2022-02-15Director28
HENION BRADLEYStock Award(Grant) at price 0.00 per share.D2022-02-15Officer616
GREENLAND ADOM JStock Award(Grant) at price 0.00 per share.D2022-02-15Officer545
ARMOCK GREG LStock Award(Grant) at price 26.01 per share.I2022-02-15Director96
BURKE MICHAEL J JR.Stock Award(Grant) at price 0.00 per share.I2022-02-15President1.33k
BURNS HAROLD JStock Award(Grant) at price 26.01 per share.D2022-02-15Director57

Insider transaction explanations

Insider buying is the legal purchase of shares by a senior executive or director of a company. "Filer Name" corresponds to the name of the stock buyer or seller. "Transaction Text" describes the transaction. "Ownership" gives information about the transaction type. "Date" is the reported transaction date. "Filer Relation" gives the role of the insider in the company. "Shares" is the value of the transaction. You will find the complete description of the General Transaction Codes on the SEC dedicated page


Investment strategy backtesting

These are the result of three automatic investment systems applied to Choiceone Financial Services Inc. You will find the performance of an systematic investment system, a momentum strategy, and a buy the dip trading strategy.


Systematic investment results on Choiceone Financial Services Inc

Here is the result of two systematic investment strategies applied to Choiceone Financial Services Inc. The first strategy automatically buys the first day of the month, and the second strategy buys the fifteenth day of the month.

Systematic investment equity curve on Choiceone Financial Services Inc

The following chart shows the equity curve of the two systematic investment strategies applied to Choiceone Financial Services Inc:

Choiceone Financial Services Inc automated entries

The systematic investment strategy that buys the first day of the month would give a performance of -3.52% on the backtest period.

Performance at glance

Performance

-3.52 %

Latent gain

-71.28 $

Invested capital

2024.28 $

Annualized return

-0.85 %
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Momentum strategy results on Choiceone Financial Services Inc

This is the result of two momentum investment strategies applied to Choiceone Financial Services Inc. The first strategy uses a momentum signal calculated on one quarter, and the second uses a momentum signal calculated on two quarters.

Momentum entry openings on Choiceone Financial Services Inc

The following chart shows all the entries opened by the momentum investment system on Choiceone Financial Services Inc:

Choiceone Financial Services Inc momentum entries
  • The first momentum investment strategy would give -0.12% of return on Choiceone Financial Services Inc. That represents -7.9$ of latent gain with 6517.9$ of employed capital.
  • The second momentum investment strategy would give -0.68% of return on Choiceone Financial Services Inc. That represents -22.08$ of latent gain with 3251.04$ of employed capital.
Performance at glance (1Q Momentum)

Performance

-0.12 %

Latent gain

-7.9 $

Invested capital

6517.9 $

Annualized return

0.0 %
Performance at glance (2Q Momentum)

Performance

-0.68 %

Latent gain

-22.08 $

Invested capital

3251.04 $

Annualized return

-0.18 %

Momentum equity curve on Choiceone Financial Services Inc

The following chart shows the equity curve of the two momentum strategies applied to Choiceone Financial Services Inc:

Choiceone Financial Services Inc momentum equity

Note: the dividends potentially given by Choiceone Financial Services Inc are not integrated into the calculation of the equity curve neither the performance of the strategy. The integration of the dividends will be available soon.


Employed capital on Choiceone Financial Services Inc

The following chart shows the employed capital evolution of the two momentum strategies on Choiceone Financial Services Inc since the beginning:

Choiceone Financial Services Inc

Note: the algorithm buys for a maximum of 250$ per entry. If the stock price is greater than 250$, the system buys only one stock per entry. The investment system stops automatically when the financial exposure reaches 10000$.


Buy the dip strategy result on Choiceone Financial Services Inc

Buy the dip entry openings on Choiceone Financial Services Inc

Choiceone Financial Services Inc

The performance achieved by the robo-advisor on Choiceone Financial Services Inc is 0%. That represents 0.0$ of latent gain with 0.0$ of employed capital. The following chart shows Choiceone Financial Services Inc stock price with all the entries opened by the automated investment system.

Note: The blue line represents the weekly stock price of Choiceone Financial Services Inc, and the green triangles represent the entry openings. The artificall robo-advisor needs at least 100 weeks of trading history to work.

Performance at glance

Performance

0 %

Latent gain

0.0 $

Invested capital

0.0 $

Annualized return

0.0 %

Equity curve of the strategy applied to Choiceone Financial Services Inc

The following chart shows the result of the investment strategy applied to Choiceone Financial Services Inc:

Choiceone Financial Services Inc

Note: the dividends potentially given by Choiceone Financial Services Inc are not integrated into the calculation of the equity curve neither the performance of the strategy. The integration of the dividends will be available soon.


Employed capital on Choiceone Financial Services Inc

The following chart shows the employed capital evolution since the beginning of the investment strategy on Choiceone Financial Services Inc:

Choiceone Financial Services Inc

Note: the algorithm buys for a maximum of 250$ per entry. If the stock price is greater than 250$, the system buys only one stock per entry. The investment system stops automatically when the financial exposure reaches 10000$.


Investment strategies comparison on Choiceone Financial Services Inc

In this section, I will compare the three previous investment strategies applied to Choiceone Financial Services Inc.

Equity curve comparison on Choiceone Financial Services Inc

The following chart shows the equity curve of the artificall advisor, the trend folowing and the automatic investment strategies:

Choiceone Financial Services Inc investment strategy comparison

Employed capital comparison on Choiceone Financial Services Inc

Choiceone Financial Services Inc investment comparison

Performance comparison on Choiceone Financial Services Inc

Strategy Latent Profit Growth Employed capital CAGR
Automatic investment -3.52% -71.28$ 2024.28$ -0.85%
Momentum 1 quarter -0.12% -7.9$ 6517.9$ -0.03%
Momentum 2 quarters -0.68% -22.08$ 3251.04$ -0.18%
Non-directional 0% 0.0$ 0.0$ 0.0%
Annualized return comparison

Automatic investment

-0.85 %

Momentum 1Q

-0.18 %

Momentum 2Q

-0.18 %

Non-directional

0.0 %

Correlated stocks

Here are the most positively and negatively correlated stocks with Choiceone Financial Services Inc:

Negative correlation

Most negatively correlated stocks this year


Most negatively correlated stocks last 3 months

  • INFINITY L&T

  • Note: The algorithm computes the probability of correlation between Choiceone Financial Services Inc and the other stocks. There may be false positives or some missing correlated stocks. If the price of Choiceone Financial Services Inc does not vary for 36 weeks, the correlation calculation result will be wrong.


    Company information

    Company name Choiceone Financial Services Inc
    Country United States
    City Sparta
    Address 109 East Division Street
    Phone 616 887 7366
    Website www.choiceone.com
    FullTime employees 383
    Industry Banks—Regional
    Sector Financial Services
    Exchange XNAS
    Ticker COFS
    Market www.nasdaq.com

    Choiceone Financial Services Inc ESG Scores

    Environment scores

    Environment ESG Factors Scores
    Environment Score 0
    Peer Environment Performance unknown
    Environment Percentile unknown
    Palm Oil unknown
    Nuclear unknown
    Fur Leather unknown
    GMO unknown
    Coal unknown
    Pesticides unknown
    Animal Testing unknown

    Social scores

    Social ESG Factors Scores
    Social Score 0
    Peer Social Performance unknown
    Social Percentile unknown
    Highest Controversy unknown
    Peer Highest Controversy Performance unknown
    Adult unknown
    Gambling unknown
    Alcoholic unknown
    Tobacco unknown
    Catholic unknown
    Controversial Weapons unknown
    Small Arms unknown
    Military Contract unknown
    Peer Count unknown

    Related Controversy:


    Governance scores

    Governance ESG Factors Scores
    Governance Score 0
    Peer Governance Performance unknown
    Governance Percentile unknown

    ESG at glance
    Total ESG Scores: unknown
    Environment Score: 0
    Social Score: 0
    Governance Score: 0

    ESG Performance: unknown

    Peer Group: unknown

    Peer Esg Score Performance: unknown

    Rating Year: unknown

    Rating Month: unknown

    Max Age: unknown

    Percentile: unknown