Citizens & Northern (NASDAQ:CZNC) Cut to Hold at Zacks Research

Citizens & Northern (NASDAQ:CZNC) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

CZNC has been the topic of several other research reports. Piper Sandler boosted their target price 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. Weiss Ratings raised shares of Citizens & Northern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Citizens & Northern currently has an average rating of “Hold” and an average price target of $23.50.

Citizens & Northern Stock Performance

NASDAQ CZNC opened at $21.42 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $383.63 million, a price-to-earnings ratio of 14.47 and a beta of 0.54. The company’s fifty day moving average is $22.40 and its two-hundred day moving average is $20.82. Citizens & Northern has a 52-week low of $18.02 and a 52-week high of $24.11.

Citizens & Northern (NASDAQ:CZNC) last announced its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $0.56 EPS for the quarter. Citizens & Northern had a net margin of 13.75% and a return on equity of 9.79%. The business had revenue of $64.78 million during the quarter. Equities research analysts forecast that Citizens & Northern will post 1.91 EPS for the current year.

Institutional Investors Weigh In On Citizens & Northern

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CZNC. Empowered Funds LLC bought a new position in Citizens & Northern during the first quarter worth about $236,000. Jane Street Group LLC bought a new stake in shares of Citizens & Northern in the 1st quarter valued at about $324,000. Geode Capital Management LLC raised its position in shares of Citizens & Northern by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 365,612 shares of the financial services provider’s stock valued at $6,926,000 after acquiring an additional 7,811 shares during the period. Rhumbline Advisers raised its position in shares of Citizens & Northern by 7.5% in the 2nd quarter. Rhumbline Advisers now owns 22,685 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 1,592 shares during the period. Finally, 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 acquiring an additional 29,687 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.