Citizens & Northern (NASDAQ:CZNC) Reaches New 52-Week High – Here’s Why

Shares of Citizens & Northern Corp (NASDAQ:CZNC) hit a new 52-week high during trading on Monday. The company traded as high as $27.78 and last traded at $28.07, with a volume of 114,798 shares. The stock had previously closed at $27.75.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CZNC shares. Wall Street Zen cut shares of Citizens & Northern from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 18th. Zacks Research upgraded shares of Citizens & Northern from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings raised shares of Citizens & Northern from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.50.

Citizens & Northern Stock Down 1.1%

The business has a fifty day simple moving average of $25.75 and a 200-day simple moving average of $23.44.

Citizens & Northern (NASDAQ:CZNC) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.24. The business had revenue of $40.07 million for the quarter, compared to the consensus estimate of $42.28 million. On average, equities analysts forecast that Citizens & Northern Corp will post 2.17 EPS for the current year.

Citizens & Northern Increases Dividend

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

Institutional Investors Weigh In On Citizens & Northern

Several hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue grew its holdings in Citizens & Northern by 70.5% in the third quarter. State of Alaska Department of Revenue now owns 1,630 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 674 shares during the period. Hudock Inc. lifted its holdings in shares of Citizens & Northern by 1.6% during the third quarter. Hudock Inc. now owns 51,592 shares of the financial services provider’s stock valued at $1,291,000 after purchasing an additional 790 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Citizens & Northern during the second quarter valued at approximately $450,000. Bank of America Corp DE bought a new stake in shares of Citizens & Northern in the 2nd quarter worth approximately $367,000. Finally, Legal & General Group Plc bought a new stake in shares of Citizens & Northern in the 2nd quarter worth approximately $42,000. Institutional investors own 30.83% of the company’s stock.

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.