Citizens & Northern (NASDAQ:CZNC) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Citizens & Northern Co. (NASDAQ:CZNC) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.83 and traded as high as $20.51. Citizens & Northern shares last traded at $20.44, with a volume of 28,951 shares traded.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CZNC. StockNews.com downgraded Citizens & Northern from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Piper Sandler raised Citizens & Northern to a “hold” rating in a report on Monday, December 2nd.

Citizens & Northern Stock Performance

The firm has a market cap of $315.06 million, a price-to-earnings ratio of 12.09 and a beta of 0.44. The stock has a 50 day moving average of $20.26 and a 200 day moving average of $19.84. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.77.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.08. Citizens & Northern had a return on equity of 9.71% and a net margin of 16.50%. As a group, analysts anticipate that Citizens & Northern Co. will post 1.91 EPS for the current fiscal year.

Citizens & Northern Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date was Monday, February 3rd. This is a boost from Citizens & Northern’s previous quarterly dividend of $0.27. Citizens & Northern’s payout ratio is currently 66.27%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in Citizens & Northern by 186.3% during the third quarter. JPMorgan Chase & Co. now owns 24,032 shares of the financial services provider’s stock worth $473,000 after acquiring an additional 15,637 shares in the last quarter. State Street Corp raised its stake in Citizens & Northern by 1.1% during the third quarter. State Street Corp now owns 308,868 shares of the financial services provider’s stock worth $6,082,000 after acquiring an additional 3,297 shares in the last quarter. Geode Capital Management LLC raised its stake in Citizens & Northern by 1.2% during the third quarter. Geode Capital Management LLC now owns 345,823 shares of the financial services provider’s stock worth $6,811,000 after acquiring an additional 4,243 shares in the last quarter. Barclays PLC raised its stake in Citizens & Northern by 290.1% during the third quarter. Barclays PLC now owns 19,388 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 14,418 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Citizens & Northern by 22.3% during the fourth quarter. SG Americas Securities LLC now owns 6,327 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 1,153 shares in the last quarter. Institutional investors and hedge funds own 30.83% of the company’s stock.

About Citizens & Northern

Citizens & Northern Corp. is a holding company, which engages in community banking. It provides a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. The firm’s lending products include mortgage loans, commercial loans, and consumer loans.