COFS - ChoiceOne Financial: Loans Likely To Start Recovering By Next Year

• The management is taking measures to control the recent broad-based loan decline trend.
• Several factors will compress the net interest margin in the coming quarters, including a new subordinated loan offering and promotional rates on loans.
• Mortgage banking income will likely normalize over the next coming quarters, which is the chief reason for expected earnings decline next year.
• The year-end target price suggests a high upside from the current market price. Further, COFS is offering a high dividend yield for a bank-holding company.

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