Citizens & Northern (NASDAQ:CZNC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Citizens & Northern (NASDAQ:CZNC) from a buy rating to a strong-buy rating in a report issued on Saturday,Wall Street Zen reports.

Several other equities research analysts have also recently commented on CZNC. Zacks Research upgraded shares of Citizens & Northern from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings upgraded shares of Citizens & Northern from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Citizens & Northern has a consensus rating of “Hold” and an average price target of $23.50.

Citizens & Northern Stock Up 1.3%

Shares of CZNC stock opened at $25.27 on Friday. Citizens & Northern has a 1 year low of $18.87 and a 1 year high of $26.37. The stock has a market cap of $453.09 million, a PE ratio of 17.07 and a beta of 0.41. The business’s fifty day moving average is $25.63 and its 200-day moving average is $23.62. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 0.91.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings data on Friday, August 7th. The financial services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.16. The company had revenue of $39.65 million for the quarter, compared to the consensus estimate of $38.60 million. Citizens & Northern had a return on equity of 9.54% and a net margin of 13.28%. Equities analysts expect that Citizens & Northern will post 2.17 earnings per share for the current fiscal year.

Citizens & Northern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, August 3rd. Citizens & Northern’s payout ratio is presently 75.68%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hudock Inc. increased its position in shares of Citizens & Northern by 17.7% in the second quarter. Hudock Inc. now owns 50,802 shares of the financial services provider’s stock worth $1,184,000 after acquiring an additional 7,650 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Citizens & Northern in the 2nd quarter valued at approximately $450,000. Bank of America Corp DE purchased a new stake in shares of Citizens & Northern in the 2nd quarter valued at approximately $367,000. Legal & General Group Plc purchased a new stake in shares of Citizens & Northern in the 2nd quarter valued at approximately $42,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Citizens & Northern in the 2nd quarter worth approximately $977,000. 30.83% of the stock is currently owned by institutional investors and hedge funds.

About Citizens & Northern

Citizens & Northern Corporation is a bank holding company for Citizens & Northern Bank, a community banking institution headquartered in Wellsboro, Pennsylvania. Founded in 1864, the bank serves individuals, families, farmers, businesses and organizations through a network of offices in north-central Pennsylvania and southern New York.

Citizens & Northern Bank offers a range of traditional banking products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial loans and agricultural lending.