Citizens & Northern (NASDAQ:CZNC) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Citizens & Northern (NASDAQ:CZNC) from a strong sell rating to a hold rating in a report released on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Citizens & Northern from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen downgraded shares of Citizens & Northern from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Citizens & Northern has a consensus rating of “Hold” and an average price target of $23.50.

Citizens & Northern Price Performance

Shares of CZNC opened at $23.24 on Monday. The company has a market capitalization of $416.46 million, a price-to-earnings ratio of 21.32 and a beta of 0.41. Citizens & Northern has a fifty-two week low of $18.16 and a fifty-two week high of $24.25. 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 business’s 50-day moving average is $21.82 and its 200-day moving average is $22.07.

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

Citizens & Northern Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CZNC. Legato Capital Management LLC bought a new stake in Citizens & Northern in the fourth quarter worth $647,000. Citizens & Northern Corp increased its position in Citizens & Northern by 12.6% during the fourth 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. JPMorgan Chase & Co. raised its holdings in Citizens & Northern by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 14,504 shares of the financial services provider’s stock valued at $287,000 after buying an additional 892 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Citizens & Northern by 62.9% during the third quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider’s stock valued at $71,000 after buying an additional 1,391 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position 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 worth $65,000 after buying an additional 2,939 shares during the last quarter. Institutional investors own 30.83% of the company’s stock.

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.