Citizens & Northern Corp (NASDAQ:CZNC) Declares Dividend Increase – $0.30 Per Share

Citizens & Northern Corp (NASDAQ:CZNC) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Monday, November 2nd will be given a dividend of $0.30 per share by the financial services provider on Friday, November 13th. This represents a $1.20 annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, November 2nd. This is a 7.1% increase from Citizens & Northern’s previous quarterly dividend of $0.28.

Citizens & Northern has a dividend payout ratio of 56.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Citizens & Northern to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 40.7%.

Citizens & Northern Stock Up 4.2%

CZNC stock traded up $1.11 during trading on Friday, reaching $27.75. The stock had a trading volume of 114,798 shares, compared to its average volume of 55,419. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average price of $25.64 and a 200 day moving average price of $23.80. The company has a market capitalization of $497.56 million, a P/E ratio of 18.75 and a beta of 0.41. Citizens & Northern has a 1-year low of $18.87 and a 1-year high of $27.78.

Citizens & Northern (NASDAQ:CZNC) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.24. Citizens & Northern had a return on equity of 9.54% and a net margin of 13.28%. The company had revenue of $40.07 million during the quarter, compared to the consensus estimate of $37.20 million. On average, equities analysts anticipate that Citizens & Northern will post 2.17 earnings per share for the current year.

Citizens & Northern Company Profile

Citizens & Northern Corporation is a bank holding company headquartered in Wellsboro, Pennsylvania. Through its principal subsidiary, Citizens & Northern Bank, the company provides community banking services to individuals, families, businesses and organizations.

The bank offers deposit accounts, consumer and commercial lending, residential mortgages, agricultural loans, cash-management services and online and mobile banking. It also provides wealth management, trust and investment services, as well as insurance and other financial solutions through affiliated businesses and service providers.

Founded in 1864, Citizens & Northern has a long history of serving communities in north-central Pennsylvania and nearby areas of southern New York.