Wall Street Zen Downgrades Citizens & Northern (NASDAQ:CZNC) to Buy

Citizens & Northern (NASDAQ:CZNC) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

CZNC has been the topic of a number of other reports. Zacks Research raised Citizens & Northern from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings upgraded shares of Citizens & Northern from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.50.

Citizens & Northern Stock Up 0.5%

Shares of NASDAQ:CZNC opened at $26.09 on Friday. The company has a fifty day moving average of $24.95 and a 200-day moving average of $23.16. The company has a market capitalization of $467.92 million, a PE ratio of 17.63 and a beta of 0.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 0.91. Citizens & Northern has a 52-week low of $18.87 and a 52-week high of $26.35.

Citizens & Northern (NASDAQ:CZNC) last released its quarterly earnings data on Friday, August 7th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.16. The company had revenue of $39.65 million for the quarter, compared to the consensus estimate of $38.60 million. Citizens & Northern had a return on equity of 9.54% and a net margin of 13.28%. On average, equities analysts predict that Citizens & Northern will post 2.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Citizens & Northern

A number of institutional investors have recently modified their holdings of CZNC. Hudock Inc. increased its position in shares of Citizens & Northern by 17.7% during the second quarter. Hudock Inc. now owns 50,802 shares of the financial services provider’s stock worth $1,184,000 after buying an additional 7,650 shares during the period. California State Teachers Retirement System lifted its holdings in Citizens & Northern by 502.1% in the second quarter. California State Teachers Retirement System now owns 5,618 shares of the financial services provider’s stock valued at $131,000 after buying an additional 4,685 shares during the period. Empowered Funds LLC bought a new stake in Citizens & Northern during the second quarter valued at $450,000. Bank of America Corp DE bought a new stake in Citizens & Northern during the second quarter valued at $367,000. Finally, Legal & General Group Plc acquired a new stake in Citizens & Northern during the 2nd quarter worth about $42,000. 30.83% of the stock is owned by institutional investors.

About Citizens & Northern

Citizens & Northern Corporation is a bank holding company headquartered in Wellsboro, Pennsylvania. Its principal subsidiary, Citizens & Northern Bank, provides community banking services to individuals, businesses, nonprofit organizations and municipalities.

The bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial loans, agricultural financing and other credit products. It also provides electronic and digital banking, cash-management services, trust and fiduciary services, investment services and insurance-related products.

Founded in 1864, Citizens & Northern has a long history of serving communities in north-central Pennsylvania and the Southern Tier of New York.