Citizens & Northern (NASDAQ:CZNC) Releases Earnings Results

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

Citizens & Northern Stock Performance

Shares of NASDAQ CZNC traded down $0.15 during midday trading on Friday, hitting $21.63. 22,818 shares of the stock traded hands, compared to its average volume of 33,757. Citizens & Northern has a one year low of $18.02 and a one year high of $24.11. The firm has a 50-day moving average of $22.60 and a two-hundred day moving average of $21.53. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $387.39 million, a P/E ratio of 14.61 and a beta of 0.44.

Citizens & Northern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, May 4th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, May 4th. Citizens & Northern’s dividend payout ratio is presently 75.68%.

Hedge Funds Weigh In On Citizens & Northern

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in Citizens & Northern by 521.1% during the third quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,433 shares during the period. CANADA LIFE ASSURANCE Co raised its position in 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 worth $36,000 after acquiring an additional 749 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Citizens & Northern during the 2nd quarter worth $58,000. Tower Research Capital LLC TRC boosted its stake in shares of Citizens & Northern by 596.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 2,939 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Citizens & Northern by 62.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 1,391 shares during the period. Hedge funds and other institutional investors own 30.83% of the company’s stock.

Analysts Set New Price Targets

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