Citizens & Northern Co. Declares Quarterly Dividend of $0.28 (NASDAQ:CZNC)

Citizens & Northern Co. (NASDAQ:CZNC) declared a quarterly dividend on Friday, April 25th, Wall Street Journal reports. Shareholders of record on Sunday, May 4th will be paid a dividend of 0.28 per share by the financial services provider on Thursday, May 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date is Friday, May 2nd.

Citizens & Northern has a dividend payout ratio of 57.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Citizens & Northern to earn $2.02 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 55.4%.

Citizens & Northern Stock Up 2.0 %

Shares of NASDAQ CZNC opened at $19.05 on Friday. The stock has a market capitalization of $294.63 million, a price-to-earnings ratio of 11.27 and a beta of 0.40. Citizens & Northern has a 12-month low of $16.50 and a 12-month high of $22.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $19.94 and its 200-day moving average price is $19.87.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). The company had revenue of $27.19 million during the quarter, compared to the consensus estimate of $28.30 million. Citizens & Northern had a net margin of 16.50% and a return on equity of 9.71%. On average, equities research analysts anticipate that Citizens & Northern will post 1.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Citizens & Northern from a “buy” rating to a “hold” rating in a research note on Friday, February 28th.

Citizens & Northern Company Profile

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.