Citizens & Northern Co. to Issue Quarterly Dividend of $0.28 (NASDAQ:CZNC)

Citizens & Northern Co. (NASDAQ:CZNC) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Monday, May 6th will be paid a dividend of 0.28 per share by the financial services provider on Friday, May 17th. This represents a $1.12 annualized dividend and a yield of 6.17%. The ex-dividend date is Friday, May 3rd.

Citizens & Northern has increased its dividend payment by an average of 1.2% per year over the last three years. Citizens & Northern has a payout ratio of 62.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Citizens & Northern to earn $1.76 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 63.6%.

Citizens & Northern Stock Performance

Shares of Citizens & Northern stock opened at $18.16 on Thursday. The business has a fifty day simple moving average of $17.91 and a two-hundred day simple moving average of $19.39. The firm has a market capitalization of $279.30 million, a P/E ratio of 11.57 and a beta of 0.44. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.68. Citizens & Northern has a 12 month low of $16.71 and a 12 month high of $23.50.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings data on Monday, March 11th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.08). Citizens & Northern had a return on equity of 9.60% and a net margin of 17.51%. The business had revenue of $25.27 million for the quarter, compared to the consensus estimate of $26.39 million. On average, equities analysts forecast that Citizens & Northern will post 1.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CZNC has been the topic of several recent research reports. TheStreet downgraded Citizens & Northern from a “b-” rating to a “c+” rating in a research note on Wednesday, March 13th. StockNews.com downgraded Citizens & Northern from a “hold” rating to a “sell” rating in a report on Tuesday.

About Citizens & Northern

Citizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides various banking and related services to individual and corporate customers. Its deposit products include various types of checking accounts, passbook and statement savings, money market accounts, interest checking accounts, and individual retirement accounts, as well as certificates of deposit; and lending products, including commercial, mortgage, and consumer loans, as well as specialized instruments, such as commercial letters-of-credit.