The Manufacturers Life Insurance Company boosted its position in shares of Citizens & Northern Corp (NASDAQ:CZNC) by 31.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,072 shares of the financial services provider’s stock after buying an additional 3,616 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.12% of Citizens & Northern worth $350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nationwide Fund Advisors grew its position in shares of Citizens & Northern by 6.6% in the second quarter. Nationwide Fund Advisors now owns 8,021 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 500 shares during the period. Teachers Advisors LLC grew its position in shares of Citizens & Northern by 6.5% in the second quarter. Teachers Advisors LLC now owns 20,423 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 1,249 shares during the period. Vanguard Group Inc. grew its position in shares of Citizens & Northern by 0.3% in the second quarter. Vanguard Group Inc. now owns 428,290 shares of the financial services provider’s stock valued at $9,962,000 after purchasing an additional 1,431 shares during the period. Alliancebernstein L.P. grew its position in shares of Citizens & Northern by 13.6% in the second quarter. Alliancebernstein L.P. now owns 15,002 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 1,800 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Citizens & Northern by 8.4% in the second quarter. Prudential Financial Inc. now owns 31,116 shares of the financial services provider’s stock valued at $724,000 after purchasing an additional 2,400 shares during the period. Institutional investors and hedge funds own 29.30% of the company’s stock.

Shares of Citizens & Northern Corp (NASDAQ CZNC) opened at $25.49 on Friday. Citizens & Northern Corp has a 52-week low of $22.00 and a 52-week high of $26.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80.

Citizens & Northern (NASDAQ:CZNC) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Citizens & Northern had a net margin of 25.58% and a return on equity of 8.33%.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Monday, October 30th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Friday, October 27th.

Separately, BidaskClub lowered shares of Citizens & Northern from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th.

In other Citizens & Northern news, CEO J Bradley Scovill purchased 4,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were purchased at an average cost of $22.72 per share, with a total value of $90,880.00. Following the completion of the purchase, the chief executive officer now owns 39,890 shares in the company, valued at approximately $906,300.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders bought 5,259 shares of company stock worth $120,561. Insiders own 4.31% of the company’s stock.

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Citizens & Northern Profile

Citizens & Northern Corporation is a holding company. The Company’s principal activity is community banking. The Company, through its subsidiaries, is engaged in providing a range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State.

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Institutional Ownership by Quarter for Citizens & Northern (NASDAQ:CZNC)

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