Citizens & Northern (NASDAQ:CZNC) Cut to “Strong Sell” at Zacks Research

Citizens & Northern (NASDAQ:CZNC) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts also recently weighed in on CZNC. Wall Street Zen downgraded shares of Citizens & Northern from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Piper Sandler lifted their price objective on shares of Citizens & Northern from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings cut shares of Citizens & Northern from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $23.50.

Citizens & Northern Price Performance

NASDAQ CZNC opened at $21.00 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.53. Citizens & Northern has a 12-month low of $18.02 and a 12-month high of $24.11. The company has a market capitalization of $376.32 million, a PE ratio of 19.27 and a beta of 0.44. The firm’s 50 day moving average is $22.50 and its 200-day moving average is $21.57.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.56). Citizens & Northern had a net margin of 9.67% and a return on equity of 7.47%. The business had revenue of $36.90 million during the quarter, compared to analyst estimates of $35.60 million. Equities research analysts anticipate that Citizens & Northern will post 1.97 earnings per share for the current fiscal year.

Institutional Trading of Citizens & Northern

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citizens & Northern Corp increased its position in Citizens & Northern by 12.6% during the 4th quarter. Citizens & Northern Corp now owns 361,412 shares of the financial services provider’s stock valued at $7,290,000 after purchasing an additional 40,323 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Citizens & Northern by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,504 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 892 shares in the last quarter. Innova Wealth Partners bought a new position in shares of Citizens & Northern in the 4th quarter worth $203,000. Teton Advisors LLC bought a new position in shares of Citizens & Northern in the 3rd quarter worth $238,000. Finally, CWM LLC lifted its holdings in shares of Citizens & Northern by 210.2% in the 3rd quarter. CWM LLC now owns 3,574 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 2,422 shares in the last quarter. Institutional investors and hedge funds own 30.83% of the company’s stock.

Citizens & Northern Company Profile

Citizens & Northern Corporation is the bank holding company for Citizens & Northern Bank, a community-oriented financial institution headquartered in Wellsboro, Pennsylvania. Chartered in 1888, the company has cultivated deep roots in north central Pennsylvania and selected counties in upstate New York, offering a broad spectrum of banking services tailored to individuals, families and local businesses.

Through its flagship banking subsidiary, Citizens & Northern provides personal deposit products such as checking and savings accounts, certificates of deposit and money market accounts.