The Manufacturers Life Insurance Company Makes New $11.25 Million Investment in Citizens Community Bancorp, Inc. $CZWI

The Manufacturers Life Insurance Company purchased a new stake in Citizens Community Bancorp, Inc. (NASDAQ:CZWI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 480,842 shares of the bank’s stock, valued at approximately $11,247,000.

A number of other hedge funds also recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its holdings in shares of Citizens Community Bancorp by 611.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,048 shares of the bank’s stock worth $28,000 after acquiring an additional 1,760 shares during the period. Osaic Holdings Inc. raised its position in Citizens Community Bancorp by 858.5% in the second quarter. Osaic Holdings Inc. now owns 3,000 shares of the bank’s stock worth $41,000 after purchasing an additional 2,687 shares in the last quarter. Bank of America Corp DE raised its position in Citizens Community Bancorp by 5,348.0% in the second quarter. Bank of America Corp DE now owns 4,086 shares of the bank’s stock worth $56,000 after purchasing an additional 4,011 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Citizens Community Bancorp during the second quarter worth about $63,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Citizens Community Bancorp during the second quarter worth about $72,000. Institutional investors and hedge funds own 55.11% of the company’s stock.

Citizens Community Bancorp Price Performance

Shares of NASDAQ:CZWI opened at $21.02 on Friday. The stock has a market cap of $202.84 million, a price-to-earnings ratio of 16.05 and a beta of 0.51. The company has a 50 day moving average of $22.18 and a 200-day moving average of $20.66. Citizens Community Bancorp, Inc. has a one year low of $14.61 and a one year high of $24.42.

Citizens Community Bancorp (NASDAQ:CZWI) last announced its quarterly earnings data on Monday, July 27th. The bank reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.30). Citizens Community Bancorp had a net margin of 12.94% and a return on equity of 6.77%. The business had revenue of $16.11 million during the quarter, compared to analyst estimates of $16.30 million. Equities research analysts anticipate that Citizens Community Bancorp, Inc. will post 1.64 earnings per share for the current year.

Citizens Community Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were paid a $0.105 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.0%. Citizens Community Bancorp’s dividend payout ratio is 32.06%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Hovde Group lowered Citizens Community Bancorp from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $21.00 to $24.00 in a research note on Friday, July 10th. Brean Capital lowered Citizens Community Bancorp from a “buy” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research note on Friday, August 7th. Zacks Research downgraded shares of Citizens Community Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Citigroup cut shares of Citizens Community Bancorp to a “neutral” rating in a research report on Friday, August 7th. Finally, Weiss Ratings cut shares of Citizens Community Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.50.

About Citizens Community Bancorp

Citizens Community Bancorp, Inc is a bank holding company headquartered in Columbia Station, Ohio. Its primary subsidiary, Citizens Community Savings Bank, offers a range of community banking services to individuals and businesses. The company operates through a network of branch offices in Lorain and Medina counties and surrounding communities, providing personalized financial solutions with a focus on local relationships and customer service.

The bank’s deposit products include checking and savings accounts, money market accounts and certificates of deposit, while its lending portfolio features residential mortgage loans, home equity lines of credit, commercial real estate loans, and small-business financing.