Citizens & Northern Corp (CZNC) to Issue Quarterly Dividend of $0.28 on May 15th

Citizens & Northern Corp (NASDAQ:CZNC) declared a quarterly dividend on Thursday, April 23rd. Stockholders of record on Monday, May 4th will be given a dividend of 0.28 per share by the financial services provider on Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Monday, May 4th.

Citizens & Northern has increased its dividend by an average of 0.0%per year over the last three years. Citizens & Northern has a payout ratio of 56.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Citizens & Northern to earn $2.70 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 41.5%.

Citizens & Northern Price Performance

Shares of Citizens & Northern stock opened at $22.48 on Friday. The firm has a market capitalization of $402.62 million, a PE ratio of 15.19 and a beta of 0.44. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. Citizens & Northern has a 12 month low of $18.02 and a 12 month high of $24.11. The business’s 50-day moving average price is $22.69 and its 200-day moving average price is $21.45.

Citizens & Northern (NASDAQ:CZNC) last released its earnings results on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.56). The firm had revenue of $28.48 million during the quarter, compared to the consensus estimate of $35.60 million. Citizens & Northern had a return on equity of 9.79% and a net margin of 13.75%. Sell-side analysts forecast that Citizens & Northern will post 2.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Citizens & Northern from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Wall Street Zen downgraded shares of Citizens & Northern from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised Citizens & Northern from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 15th. Finally, Zacks Research lowered Citizens & Northern from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.50.

Citizens & Northern Company Profile

Citizens & Northern Corporation is the bank holding company for Citizens & Northern Bank, a community-oriented financial institution headquartered in Wellsboro, Pennsylvania. Chartered in 1888, the company has cultivated deep roots in north central Pennsylvania and selected counties in upstate New York, offering a broad spectrum of banking services tailored to individuals, families and local businesses.

Through its flagship banking subsidiary, Citizens & Northern provides personal deposit products such as checking and savings accounts, certificates of deposit and money market accounts.