Citizens & Northern (NASDAQ:CZNC) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Citizens & Northern (NASDAQ:CZNC) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

A number of other research analysts have also issued reports on CZNC. Weiss Ratings upgraded Citizens & Northern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 15th. Piper Sandler boosted their target price on shares of Citizens & Northern from $22.50 to $23.50 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.50.

Citizens & Northern Trading Down 2.2%

Citizens & Northern stock opened at $21.42 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The firm has a market cap of $383.63 million, a PE ratio of 14.47 and a beta of 0.54. The stock’s 50 day simple moving average is $22.40 and its two-hundred day simple moving average is $20.82. Citizens & Northern has a 12 month low of $18.02 and a 12 month high of $24.11.

Citizens & Northern (NASDAQ:CZNC) last announced its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter. The firm had revenue of $64.78 million for the quarter. Citizens & Northern had a net margin of 13.75% and a return on equity of 9.79%. Analysts anticipate that Citizens & Northern will post 1.91 earnings per share for the current year.

Citizens & Northern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a dividend of $0.28 per share. The ex-dividend date was Monday, February 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.2%. Citizens & Northern’s dividend payout ratio (DPR) is currently 75.68%.

Institutional Trading of Citizens & Northern

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC raised its holdings in shares of Citizens & Northern by 2.8% in the 4th quarter. Jane Street Group LLC now owns 25,127 shares of the financial services provider’s stock valued at $507,000 after buying an additional 673 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Citizens & Northern by 71.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 749 shares in the last quarter. Barclays PLC increased its stake in Citizens & Northern by 3.0% during the fourth quarter. Barclays PLC now owns 26,947 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 774 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Citizens & Northern by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 14,504 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 892 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in Citizens & Northern by 8.9% during the 4th quarter. Osaic Holdings Inc. now owns 11,436 shares of the financial services provider’s stock worth $231,000 after buying an additional 933 shares during the period. Hedge funds and other institutional investors 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.