Citizens & Northern (NASDAQ:CZNC) Announces Earnings Results

Citizens & Northern (NASDAQ:CZNC) posted its earnings results on Friday. The financial services provider reported $999.00 EPS for the quarter, Zacks reports. Citizens & Northern had a return on equity of 9.79% and a net margin of 13.75%.

Citizens & Northern Stock Performance

NASDAQ CZNC opened at $21.63 on Friday. 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 business’s 50 day moving average is $22.60 and its two-hundred day moving average is $21.53. Citizens & Northern has a 12-month low of $18.02 and a 12-month high of $24.11. The stock has a market capitalization of $387.39 million, a price-to-earnings ratio of 14.61 and a beta of 0.44.

Citizens & Northern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, May 4th will be given a dividend of $0.28 per share. The ex-dividend date is Monday, May 4th. This represents a $1.12 annualized dividend and a yield of 5.2%. Citizens & Northern’s payout ratio is presently 75.68%.

Hedge Funds Weigh In On Citizens & Northern

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Citizens & Northern by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 823,059 shares of the financial services provider’s stock worth $16,305,000 after purchasing an additional 18,165 shares during the period. Dimensional Fund Advisors LP increased its position in Citizens & Northern by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 604,257 shares of the financial services provider’s stock worth $12,188,000 after purchasing an additional 18,510 shares during the period. Geode Capital Management LLC increased its position in Citizens & Northern by 13.8% during the 4th quarter. Geode Capital Management LLC now owns 416,153 shares of the financial services provider’s stock worth $8,396,000 after purchasing an additional 50,343 shares during the period. State Street Corp increased its position in Citizens & Northern by 1.5% during the 4th quarter. State Street Corp now owns 322,819 shares of the financial services provider’s stock worth $6,511,000 after purchasing an additional 4,806 shares during the period. Finally, Marshall Wace LLP increased its position in Citizens & Northern by 105.3% during the 2nd quarter. Marshall Wace LLP now owns 57,870 shares of the financial services provider’s stock worth $1,096,000 after purchasing an additional 29,687 shares during the period. Institutional investors and hedge funds own 30.83% of the company’s stock.

Analysts Set New Price Targets

CZNC has been the topic of a number of research analyst reports. Wall Street Zen cut Citizens & Northern from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings raised shares of Citizens & Northern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 15th. Piper Sandler upped their target price on shares of Citizens & Northern from $22.50 to $23.50 and gave the company a “neutral” rating in a report on Thursday, January 29th. Finally, Zacks Research downgraded Citizens & Northern from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.50.

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.