BidaskClub lowered shares of Citizens & Northern (NASDAQ:CZNC) from a strong-buy rating to a buy rating in a research report sent to investors on Friday, BidAskClub reports.

Shares of Citizens & Northern stock opened at $28.01 on Friday. Citizens & Northern has a 52-week low of $23.60 and a 52-week high of $29.25. The company has a market capitalization of $347.13 million, a P/E ratio of 16.60 and a beta of 0.36. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.16.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.02). Citizens & Northern had a net margin of 32.30% and a return on equity of 10.84%.

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Monday, April 29th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $1.08 dividend on an annualized basis and a yield of 3.86%.

Hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC grew its stake in Citizens & Northern by 6.4% in the fourth quarter. Acadian Asset Management LLC now owns 10,013 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 600 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in Citizens & Northern by 49.9% in the third quarter. MetLife Investment Advisors LLC now owns 10,069 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 3,353 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Citizens & Northern by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 92,382 shares of the financial services provider’s stock valued at $2,441,000 after purchasing an additional 5,548 shares in the last quarter. Rhumbline Advisers grew its stake in Citizens & Northern by 40.3% in the fourth quarter. Rhumbline Advisers now owns 16,800 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 4,829 shares in the last quarter. Finally, Vanguard Group Inc grew its stake in Citizens & Northern by 1.6% in the third quarter. Vanguard Group Inc now owns 483,588 shares of the financial services provider’s stock valued at $12,646,000 after purchasing an additional 7,524 shares in the last quarter. Hedge funds and other institutional investors own 29.01% of the company’s stock.

Citizens & Northern Company Profile

Citizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides a range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York. The company offers deposit products, including various types of checking accounts, passbook and statement savings accounts, money market accounts, interest checking accounts, individual retirement accounts, and certificates of deposits, as well as non-insured RepoSweep accounts.

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