Citizens & Northern Co. (NASDAQ:CZNC) Short Interest Down 5.1% in May

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Citizens & Northern Co. (NASDAQ:CZNC) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totalling 92,700 shares, a decline of 5.1% from the April 30th total of 97,700 shares. Based on an average daily trading volume, of 24,300 shares, the days-to-cover ratio is currently 3.8 days. Currently, 0.7% of the company’s shares are sold short.

A number of research analysts recently issued reports on CZNC shares. TheStreet lowered Citizens & Northern from a “b-” rating to a “c+” rating in a report on Wednesday, March 18th. BidaskClub lowered Citizens & Northern from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 10th. Finally, Zacks Investment Research lowered Citizens & Northern from a “hold” rating to a “sell” rating in a report on Tuesday, March 17th.

Shares of NASDAQ CZNC opened at $17.86 on Friday. The company has a market capitalization of $251.74 million, a price-to-earnings ratio of 11.56 and a beta of 0.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50-day moving average of $18.06 and a two-hundred day moving average of $23.45. Citizens & Northern has a 1 year low of $15.69 and a 1 year high of $29.06.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend was Friday, April 24th. Citizens & Northern’s dividend payout ratio (DPR) is 63.53%.

In other news, Director Frank G. Pellegrino acquired 2,121 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $16.91 per share, with a total value of $35,866.11. Following the completion of the purchase, the director now owns 13,456 shares of the company’s stock, valued at approximately $227,540.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders bought 3,472 shares of company stock valued at $60,088 over the last ninety days. Insiders own 4.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Citizens & Northern by 0.6% during the 1st quarter. BlackRock Inc. now owns 943,324 shares of the financial services provider’s stock worth $18,866,000 after buying an additional 5,966 shares during the last quarter. State Street Corp lifted its holdings in Citizens & Northern by 3.8% during the 4th quarter. State Street Corp now owns 239,474 shares of the financial services provider’s stock worth $6,765,000 after buying an additional 8,786 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Citizens & Northern by 6.2% during the 1st quarter. Geode Capital Management LLC now owns 173,728 shares of the financial services provider’s stock worth $3,474,000 after buying an additional 10,197 shares during the last quarter. Pennsylvania Capital Management Inc. ADV purchased a new stake in Citizens & Northern during the 4th quarter worth about $3,661,000. Finally, Bank of New York Mellon Corp lifted its holdings in Citizens & Northern by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 93,837 shares of the financial services provider’s stock worth $1,876,000 after buying an additional 1,725 shares during the last quarter. 28.81% of the stock is owned by institutional investors.

Citizens & Northern Company Profile

Citizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides a range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York. The company offers deposit products, including various types of checking accounts, passbook and statement savings accounts, money market accounts, interest checking accounts, individual retirement accounts, and certificates of deposits, as well as non-insured RepoSweep accounts.

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