Citizens & Northern (NASDAQ:CZNC) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Citizens & Northern Corp (NASDAQ:CZNC) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.15 and traded as high as $23.37. Citizens & Northern shares last traded at $23.08, with a volume of 53,644 shares trading hands.

Analyst Upgrades and Downgrades

CZNC has been the subject of a number of recent research reports. Zacks Research raised Citizens & Northern from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen lowered Citizens & Northern from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings cut Citizens & Northern from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Citizens & Northern currently has a consensus rating of “Hold” and a consensus target price of $23.50.

Citizens & Northern Price Performance

The company has a market capitalization of $417.80 million, a P/E ratio of 21.42 and a beta of 0.41. The business’s 50-day moving average is $21.89 and its two-hundred day moving average is $22.18. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.53.

Citizens & Northern (NASDAQ:CZNC) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.56). Citizens & Northern had a return on equity of 7.47% and a net margin of 9.67%.The firm had revenue of $36.90 million during the quarter, compared to the consensus estimate of $35.60 million. As a group, analysts predict that Citizens & Northern Corp will post 1.97 earnings per share for the current year.

Citizens & Northern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.12 annualized dividend and a dividend yield of 4.8%. Citizens & Northern’s dividend payout ratio is currently 102.75%.

Institutional Trading of Citizens & Northern

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Citizens & Northern by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 823,059 shares of the financial services provider’s stock valued at $16,305,000 after purchasing an additional 18,165 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Citizens & Northern by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 620,287 shares of the financial services provider’s stock worth $13,857,000 after purchasing an additional 16,030 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Citizens & Northern by 13.8% in the 4th quarter. Geode Capital Management LLC now owns 416,153 shares of the financial services provider’s stock worth $8,396,000 after buying an additional 50,343 shares during the last quarter. Citizens & Northern Corp boosted its holdings in shares of Citizens & Northern by 12.6% in the 4th quarter. Citizens & Northern Corp now owns 361,412 shares of the financial services provider’s stock worth $7,290,000 after buying an additional 40,323 shares during the last quarter. Finally, State Street Corp grew its position in Citizens & Northern by 1.5% during the fourth quarter. State Street Corp now owns 322,819 shares of the financial services provider’s stock valued at $6,511,000 after buying an additional 4,806 shares during the period. 30.83% of the stock is currently owned by institutional investors.

About Citizens & Northern

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.