Eric E. Burrough, a member of the board of ChoiceOne Financial Services Inc (NASDAQ: COFS), purchased 5,000 shares of the bank's common stock on March 11, 2026, at $27.50 per share, for a total outlay of $137,500. The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission.
The purchase price of $27.50 was slightly below the then-current market quote of $27.86. Following the trade, Burrough directly holds 180,397 shares of ChoiceOne Financial Services.
The filing was signed on Burrough's behalf by Christian D. Rhoades, executed under a Power of Attorney, as noted in the Form 4 disclosure.
Key company valuation and income metrics highlighted alongside the transaction include a reported price-to-earnings ratio of 13.71 and a dividend yield of 4.19%. The company has sustained dividend payments for 33 consecutive years, according to InvestingPro Tips. InvestingPro analysis cited in the disclosure also suggests the stock remains undervalued based on its Fair Value assessment.
Recent operating results were mixed. ChoiceOne reported fourth-quarter earnings that exceeded analyst expectations, while revenue for the same period slightly missed estimates. Despite that revenue shortfall, DA Davidson has kept a Buy rating on ChoiceOne Financial Services and set a $36.00 price target. The research firm pointed to strong loan growth and projected improvements in the net interest margin as reasons supporting its favorable stance.
Taken together, the insider purchase, persistent dividend history, and the analyst reaffirmation frame the latest developments for the Michigan-based bank. The Form 4 filing documents the transaction and the Power of Attorney signature that completed the disclosure.
Clear summary
On March 11, 2026, director Eric E. Burrough bought 5,000 ChoiceOne shares at $27.50 each, totaling $137,500 and bringing his direct stake to 180,397 shares. The purchase was reported on a Form 4 signed by Christian D. Rhoades under Power of Attorney. The stock traded near $27.86 at the time; InvestingPro flagged the stock as undervalued. ChoiceOne posted Q4 earnings above expectations but missed revenue forecasts, and DA Davidson maintained a Buy rating with a $36 price target, citing loan growth and anticipated net interest margin improvements.