Pennsylvania Capital Management Inc. ADV Reduces Stock Holdings in Citizens & Northern Corp (NASDAQ:CZNC)

Pennsylvania Capital Management Inc. ADV lowered its position in Citizens & Northern Corp (NASDAQ:CZNC) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,389 shares of the financial services provider’s stock after selling 1,630 shares during the quarter. Citizens & Northern comprises about 0.8% of Pennsylvania Capital Management Inc. ADV’s holdings, making the stock its 22nd biggest holding. Pennsylvania Capital Management Inc. ADV owned approximately 0.66% of Citizens & Northern worth $2,060,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG lifted its position in Citizens & Northern by 3.6% in the fourth quarter. Deutsche Bank AG now owns 14,566 shares of the financial services provider’s stock valued at $271,000 after buying an additional 504 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Citizens & Northern by 28.7% in the fourth quarter. BNP Paribas Financial Markets now owns 4,117 shares of the financial services provider’s stock valued at $77,000 after buying an additional 918 shares during the last quarter. Wells Fargo & Company MN lifted its position in Citizens & Northern by 24.6% in the fourth quarter. Wells Fargo & Company MN now owns 9,634 shares of the financial services provider’s stock valued at $179,000 after buying an additional 1,900 shares during the last quarter. MetLife Investment Management LLC lifted its position in Citizens & Northern by 33.1% in the fourth quarter. MetLife Investment Management LLC now owns 10,101 shares of the financial services provider’s stock valued at $188,000 after buying an additional 2,512 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Citizens & Northern by 13.1% in the fourth quarter. Bank of America Corp DE now owns 22,211 shares of the financial services provider’s stock valued at $413,000 after buying an additional 2,577 shares during the last quarter. Hedge funds and other institutional investors own 30.83% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Citizens & Northern from a “buy” rating to a “hold” rating in a research note on Friday, February 28th.

Insider Activity at Citizens & Northern

In other news, Director Terry L. Lehman bought 1,400 shares of Citizens & Northern stock in a transaction that occurred on Tuesday, April 29th. The shares were purchased at an average price of $18.70 per share, with a total value of $26,180.00. Following the completion of the acquisition, the director now directly owns 28,237 shares in the company, valued at $528,031.90. The trade was a 5.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 2,216 shares of company stock valued at $41,294 over the last 90 days. 4.49% of the stock is owned by corporate insiders.

Citizens & Northern Trading Down 1.1%

NASDAQ CZNC opened at $18.35 on Monday. The firm has a 50 day simple moving average of $18.91 and a 200-day simple moving average of $19.60. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 0.94. Citizens & Northern Corp has a one year low of $16.73 and a one year high of $22.68. The firm has a market cap of $284.24 million, a price-to-earnings ratio of 10.49 and a beta of 0.50.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.03). Citizens & Northern had a net margin of 16.92% and a return on equity of 9.80%. The business had revenue of $27.19 million during the quarter, compared to analysts’ expectations of $28.30 million. Equities research analysts anticipate that Citizens & Northern Corp will post 1.91 EPS for the current fiscal year.

Citizens & Northern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Sunday, May 4th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.10%. The ex-dividend date was Friday, May 2nd. Citizens & Northern’s payout ratio is 64.00%.

About Citizens & Northern

Citizens & Northern Corp. is a holding company, which engages in community banking. It provides a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. The firm’s lending products include mortgage loans, commercial loans, and consumer loans.