Citizens & Northern (NASDAQ:CZNC) Posts Quarterly Earnings Results

Citizens & Northern (NASDAQ:CZNC) released its quarterly earnings results on Friday. The financial services provider reported $999.00 EPS for the quarter, Zacks reports. Citizens & Northern had a return on equity of 9.79% and a net margin of 13.75%.

Citizens & Northern Stock Performance

Shares of CZNC traded down $0.15 during mid-day trading on Friday, reaching $21.63. 22,818 shares of the company’s stock were exchanged, compared to its average volume of 44,515. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $387.39 million, a PE ratio of 14.61 and a beta of 0.44. The business’s fifty day simple moving average is $22.60 and its 200-day simple moving average is $21.53. Citizens & Northern has a 52-week low of $18.02 and a 52-week high of $24.11.

Citizens & Northern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, May 4th will be given a dividend of $0.28 per share. The ex-dividend date is Monday, May 4th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.2%. Citizens & Northern’s dividend payout ratio (DPR) is 75.68%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CZNC. Russell Investments Group Ltd. increased its holdings in shares of Citizens & Northern by 521.1% in the third quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,433 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Citizens & Northern by 71.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 749 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Citizens & Northern in the second quarter valued at approximately $58,000. Tower Research Capital LLC TRC increased its holdings in shares of Citizens & Northern by 596.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 2,939 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Citizens & Northern by 62.9% in the third quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 1,391 shares during the period. Institutional investors and hedge funds own 30.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Weiss Ratings raised Citizens & Northern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 15th. Wall Street Zen lowered shares of Citizens & Northern from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Zacks Research lowered shares of Citizens & Northern from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Finally, Piper Sandler raised their target price on shares of Citizens & Northern from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.50.

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.