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

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

A number of other equities research analysts have also weighed in on the company. Weiss Ratings raised Citizens & Northern from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Zacks Research upgraded Citizens & Northern from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.50.

Citizens & Northern Price Performance

Shares of CZNC stock opened at $26.01 on Friday. The company has a market capitalization of $466.36 million, a P/E ratio of 17.57 and a beta of 0.40. The company’s 50-day simple moving average is $24.04 and its two-hundred day simple moving average is $22.92. Citizens & Northern has a one year low of $18.87 and a one year high of $26.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.91 and a quick ratio of 0.91.

Citizens & Northern (NASDAQ:CZNC) last announced its quarterly earnings results on Friday, August 7th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.16. Citizens & Northern had a return on equity of 9.54% and a net margin of 13.28%.The firm had revenue of $39.65 million during the quarter, compared to analyst estimates of $38.60 million. As a group, equities analysts anticipate that Citizens & Northern will post 2.17 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CZNC. Russell Investments Group Ltd. lifted its stake in shares of Citizens & Northern by 521.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,433 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Citizens & Northern by 71.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 749 shares in the last quarter. Legal & General Group Plc bought a new position in Citizens & Northern in the second quarter worth about $42,000. Raymond James Financial Inc. purchased a new stake in shares of Citizens & Northern during the second quarter valued at about $58,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Citizens & Northern by 596.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider’s stock valued at $65,000 after buying an additional 2,939 shares during the last quarter. 30.83% of the stock is owned by institutional investors.

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.