/PRNewswire/ — ChoiceOne Financial Services, Inc. announced today that its Board of Directors has declared a cash dividend on the Corporation’s common stock… One Morgan Stanley analyst has big expectations for Tesla stock. Here’s what you need to know about the electric vehicle company today.
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ChoiceOne Financial Announces Cash Dividend
SPARTA, Mich., Nov. 19, 2020 /PRNewswire/ — ChoiceOne Financial Services, Inc. announced today that its Board of Directors has declared a cash dividend on the Corporation’s common stock of $0.22 per share. The cash dividend is payable to shareholders of record as of December 15, 2020 and will be paid on December 31, 2020. The dividend declared for the fourth quarter of 2020 is $0.02 higher than the dividend paid in the first three quarters of 2020 and the dividend paid in the fourth quarter of 2019.
ChoiceOne Financial Services, Inc. is a financial holding company headquartered in Sparta, Michigan and the parent corporation of ChoiceOne Bank, Member FDIC. ChoiceOne Bank operates 34 offices in parts of Kent, Lapeer, Macomb, Muskegon, Newaygo, Ottawa, and St. Clair Counties in Michigan. ChoiceOne Bank offers insurance and investment products through its subsidiary, ChoiceOne Insurance Agencies, Inc. ChoiceOne Financial Services, Inc. common stock is quoted on the NASDAQ Capital Market under the symbol “COFS.” For more information, please visit Investor Relations at ChoiceOne’s website at www.choiceone.com.
EDITORS NOTE: Media interviews with ChoiceOne executives are available by calling Tom Lampen at (616) 887-2337 or [email protected] Electronic versions of bank official headshots are also available.
SOURCE ChoiceOne Financial Services, Inc.
Author: ChoiceOne Financial Services, Inc.
TSLA News: Tesla Stock Hit Record on BIG Analyst Call
This has been a major week for Tesla (NASDAQ:TSLA), and things are only looking up. In fact, Tesla stock hit an all-time high Thursday thanks to one big analyst call. So what happened? And what can investors look forward to in the future?
To start, everything kicked off when Tesla hit a new milestone earlier this week. After months of anticipation, committee members from S&P Dow Jones Indices decided to give Tesla stock a boost. How? They decided to add it into the S&P 500 during the benchmark rebalancing in December. This comes after CEO Elon Musk and his darling electric vehicle company have hit new record after new record, and after Tesla became the most valuable automaker by market capitalization.
Importantly for investors today, Wall Street is not sleeping on the news.
Morgan Stanley analyst Adam Jonas recognizes the hype around TSLA stock. On Wednesday, he released a bullish note on the company that continues to stir up investor enthusiasm. So what did he say? Well, Jonas raised his price target on shares from $360 to $540. That alone has investors excited, sending Tesla stock up to an all-time high price.
But more importantly, Jonas has some big hopes for the company. There is no denying that Tesla is a leader in the realm of consumer electric vehicles, but its business goes well beyond that. It has solar operations, plans to expand its in-house battery production and all sorts of other endeavors. In recent weeks alone it has generated headlines thanks to a beta test for its full self-driving software. To bulls, Tesla is on track to become a tech darling in addition to an EV leader.
Jonas agrees. In fact, he said that Tesla stock is set to capitalize on an opportunity in the internet of cars.
What exactly does that mean? Jonas likes that Tesla is really focused on the fully software experience of its vehicles. He cited the FSD program, performance upgrades and even the entertainment incorporated in each vehicle. As Musk shared during an earlier Battery Day shareholder event, Tesla sees itself firmly in the world of technology.
For instance, Tesla discussed its plans to roll out performance upgrades and other updates. With great ease to the consumer, Tesla can push out updates and deliver a better driver experience. Does this sound familiar? It may remind you of Apple (NASDAQ:AAPL) and its constant software updates on its consumer tech devices.
To the Morgan Stanley analyst, what really matters for investors is that Tesla is differentiating itself and unlocking new revenue streams. He says that as it shifts into this new model, it will soon be seeing “high-margin” and “recurring” revenue from its software. To investors, that sounds like there is real potential for Tesla stock to keep climbing higher.
Tesla stock is up 2.65% in intraday trading. At its earlier peak, it hit an all-time high of $507.76.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer for InvestorPlace.com.
Sarah Smith, InvestorPlace Web Content Producer