Citizens Financial Services Inc. (NASDAQ:CZFS) Announces Dividend Increase – $0.51 Per Share

Citizens Financial Services Inc. (NASDAQ:CZFS) announced a quarterly dividend on Tuesday, June 2nd. Shareholders of record on Friday, June 12th will be paid a dividend of 0.51 per share on Friday, June 26th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, June 12th. This is a 2.0% increase from Citizens Financial Services’s previous quarterly dividend of $0.50.

Citizens Financial Services has increased its dividend by an average of 0.0%annually over the last three years. Citizens Financial Services has a payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Citizens Financial Services to earn $8.31 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 24.1%.

Citizens Financial Services Trading Up 3.2%

Shares of NASDAQ CZFS opened at $67.51 on Wednesday. The stock’s 50 day moving average price is $64.99 and its two-hundred day moving average price is $62.18. Citizens Financial Services has a 52-week low of $49.99 and a 52-week high of $69.58. The stock has a market capitalization of $324.05 million, a P/E ratio of 8.24 and a beta of 0.38. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.58.

Citizens Financial Services (NASDAQ:CZFS) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. The business had revenue of $29.80 million for the quarter, compared to analysts’ expectations of $29.10 million. Citizens Financial Services had a return on equity of 11.89% and a net margin of 22.47%. On average, analysts anticipate that Citizens Financial Services will post 8.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Citizens Financial Services

Several large investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC boosted its stake in shares of Citizens Financial Services by 28.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 20,701 shares of the company’s stock worth $1,266,000 after acquiring an additional 4,553 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Citizens Financial Services by 69.2% in the first quarter. Bank of America Corp DE now owns 8,017 shares of the company’s stock worth $490,000 after buying an additional 3,280 shares during the period. Royal Bank of Canada boosted its position in shares of Citizens Financial Services by 127.7% in the first quarter. Royal Bank of Canada now owns 1,018 shares of the company’s stock worth $62,000 after buying an additional 571 shares during the period. Quantinno Capital Management LP boosted its position in shares of Citizens Financial Services by 35.5% in the first quarter. Quantinno Capital Management LP now owns 13,851 shares of the company’s stock worth $847,000 after buying an additional 3,626 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Citizens Financial Services by 16.8% in the first quarter. Dimensional Fund Advisors LP now owns 28,590 shares of the company’s stock worth $1,748,000 after buying an additional 4,115 shares during the period. 22.49% of the stock is owned by institutional investors.

About Citizens Financial Services

Citizens Financial Services, Inc (NASDAQ:CZFS) is a bank holding company headquartered in Elderton, Pennsylvania, providing a range of retail and commercial banking services through its primary subsidiary, Citizens Savings Bank. The company offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit, supported by online and mobile banking platforms tailored to personal and business clients.

Beyond deposit-taking, Citizens Financial Services underwrites a variety of lending products, including residential mortgage loans, home equity financing, commercial real estate loans, construction lending and consumer installment loans.