Citizens & Northern Corp $CZNC Stock Bought by Citizens & Northern Corp

Citizens & Northern Corp raised its stake in Citizens & Northern Corp (NASDAQ:CZNC) by 7.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 376,797 shares of the financial services provider’s stock after purchasing an additional 27,305 shares during the quarter. Citizens & Northern accounts for 2.1% of Citizens & Northern Corp’s investment portfolio, making the stock its 13th biggest holding. Citizens & Northern Corp’s holdings in Citizens & Northern were worth $9,427,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Citizens & Northern during the second quarter worth approximately $31,685,000. Bank of New York Mellon Corp purchased a new position in Citizens & Northern in the 2nd quarter valued at $2,859,000. Segall Bryant & Hamill LLC purchased a new position in Citizens & Northern in the 1st quarter valued at $1,498,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Citizens & Northern in the 2nd quarter valued at $977,000. Finally, Empowered Funds LLC acquired a new position in Citizens & Northern in the 2nd quarter valued at $450,000. Institutional investors and hedge funds own 30.83% of the company’s stock.

Wall Street Analyst Weigh In

CZNC has been the subject of a number of analyst reports. Weiss Ratings downgraded shares of Citizens & Northern from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, November 4th. Wall Street Zen downgraded shares of Citizens & Northern from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 18th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.50.

Citizens & Northern Price Performance

Shares of CZNC opened at $28.02 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average is $26.34 and its two-hundred day moving average is $23.86. Citizens & Northern Corp has a twelve month low of $18.87 and a twelve month high of $29.25. The firm has a market capitalization of $502.96 million, a PE ratio of 15.30 and a beta of 0.39.

Citizens & Northern (NASDAQ:CZNC) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.24. The business had revenue of $39.56 million during the quarter, compared to the consensus estimate of $42.28 million. Citizens & Northern had a return on equity of 11.86% and a net margin of 17.41%. Research analysts anticipate that Citizens & Northern Corp will post 2.45 earnings per share for the current year.

Citizens & Northern Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 2nd will be issued a dividend of $0.30 per share. This is a boost from Citizens & Northern’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, November 2nd. Citizens & Northern’s dividend payout ratio is currently 81.08%.

About Citizens & Northern

Citizens & Northern Corporation is a bank holding company headquartered in Wellsboro, Pennsylvania. Through its subsidiary, Citizens & Northern Bank, it provides community banking services to individuals, businesses and organizations. The bank offers deposit accounts and lending products, including commercial, residential mortgage and consumer loans. Its services also include wealth management and trust services. Citizens & Northern serves communities in north-central Pennsylvania and the Southern Tier of New York.