Insider Buying: Citizens & Northern (NASDAQ:CZNC) Director Purchases $20,830.00 in Stock

Citizens & Northern Corp (NASDAQ:CZNC) Director Terry Lehman acquired 1,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $20.83 per share, with a total value of $20,830.00. Following the purchase, the director directly owned 30,317 shares in the company, valued at $631,503.11. This represents a 3.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Citizens & Northern Stock Performance

NASDAQ:CZNC opened at $20.25 on Friday. The company has a fifty day moving average of $22.36 and a 200-day moving average of $21.58. The firm has a market capitalization of $362.88 million, a P/E ratio of 18.58 and a beta of 0.44. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.53. Citizens & Northern Corp has a twelve month low of $18.02 and a twelve month high of $24.11.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.56). Citizens & Northern had a net margin of 9.67% and a return on equity of 7.47%. The business had revenue of $36.90 million during the quarter, compared to analyst estimates of $35.60 million. As a group, sell-side analysts anticipate that Citizens & Northern Corp will post 1.97 EPS for the current year.

Citizens & Northern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.12 annualized dividend and a yield of 5.5%. Citizens & Northern’s dividend payout ratio (DPR) is presently 102.75%.

Institutional Investors Weigh In On Citizens & Northern

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CZNC. Geode Capital Management LLC raised its stake in Citizens & Northern by 13.8% in the 4th quarter. Geode Capital Management LLC now owns 416,153 shares of the financial services provider’s stock valued at $8,396,000 after acquiring an additional 50,343 shares during the period. Citizens & Northern Corp raised its stake in Citizens & Northern by 12.6% in the 4th quarter. Citizens & Northern Corp now owns 361,412 shares of the financial services provider’s stock valued at $7,290,000 after acquiring an additional 40,323 shares during the period. Legato Capital Management LLC bought a new stake in Citizens & Northern in the 4th quarter valued at about $647,000. Marshall Wace LLP raised its stake in Citizens & Northern by 105.3% in the 2nd quarter. Marshall Wace LLP now owns 57,870 shares of the financial services provider’s stock valued at $1,096,000 after acquiring an additional 29,687 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Citizens & Northern by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 604,257 shares of the financial services provider’s stock valued at $12,188,000 after acquiring an additional 18,510 shares during the period. 30.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CZNC has been the subject of several research reports. Weiss Ratings downgraded shares of Citizens & Northern from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday. Piper Sandler lifted their price target on shares of Citizens & Northern from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Wall Street Zen downgraded shares of Citizens & Northern from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Zacks Research downgraded shares of Citizens & Northern from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target 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.