Citizens & Northern (NASDAQ:CZNC) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Citizens & Northern (NASDAQ:CZNC) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings cut shares of Citizens & Northern from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday. Piper Sandler lifted their price target on shares of Citizens & Northern from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Finally, Wall Street Zen cut shares of Citizens & Northern from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $23.50.

Citizens & Northern Price Performance

NASDAQ:CZNC opened at $21.00 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $376.32 million, a price-to-earnings ratio of 19.27 and a beta of 0.44. The company has a 50 day moving average price of $22.50 and a 200-day moving average price of $21.57. Citizens & Northern has a 1-year low of $18.02 and a 1-year high of $24.11.

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

Citizens & Northern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 4th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $1.12 dividend on an annualized basis and a yield of 5.3%. Citizens & Northern’s dividend payout ratio (DPR) is currently 75.68%.

Institutional Investors Weigh In On Citizens & Northern

A number of institutional investors have recently added to or reduced their stakes in CZNC. Geode Capital Management LLC grew its stake in 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 valued at $8,396,000 after acquiring an additional 50,343 shares during the period. Citizens & Northern Corp boosted its stake in Citizens & Northern by 12.6% during the 4th quarter. Citizens & Northern Corp now owns 361,412 shares of the financial services provider’s stock worth $7,290,000 after purchasing an additional 40,323 shares during the last quarter. Legato Capital Management LLC acquired a new stake in Citizens & Northern during the 4th quarter worth $647,000. Marshall Wace LLP boosted its stake in Citizens & Northern by 105.3% during the 2nd quarter. Marshall Wace LLP now owns 57,870 shares of the financial services provider’s stock worth $1,096,000 after purchasing an additional 29,687 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Citizens & Northern by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 604,257 shares of the financial services provider’s stock worth $12,188,000 after purchasing an additional 18,510 shares during the last quarter. Institutional investors and hedge funds own 30.83% of the company’s stock.

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.