Citizens & Northern (NASDAQ:CZNC) Issues Quarterly Earnings Results

Citizens & Northern (NASDAQ:CZNC) announced its earnings results on Friday. The financial services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.16, Zacks reports. Citizens & Northern had a net margin of 9.67% and a return on equity of 7.47%.

Citizens & Northern Stock Up 0.4%

Shares of CZNC traded up $0.09 during mid-day trading on Friday, hitting $25.36. 53,784 shares of the company traded hands, compared to its average volume of 52,659. Citizens & Northern has a 1-year low of $18.49 and a 1-year high of $25.84. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $454.45 million, a PE ratio of 23.27 and a beta of 0.40. The business has a 50 day moving average of $23.05 and a 200 day moving average of $22.62.

Citizens & Northern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.4%. Citizens & Northern’s payout ratio is presently 102.75%.

Institutional Trading of Citizens & Northern

A number of institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in Citizens & Northern by 521.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,433 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Citizens & Northern by 71.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider’s stock worth $36,000 after buying an additional 749 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Citizens & Northern during the second quarter valued at $58,000. Tower Research Capital LLC TRC grew its holdings in shares of Citizens & Northern by 596.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider’s stock valued at $65,000 after buying an additional 2,939 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Citizens & Northern by 62.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 1,391 shares during the period. 30.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CZNC shares. Zacks Research raised shares of Citizens & Northern from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Wall Street Zen raised shares of Citizens & Northern from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings upgraded shares of Citizens & Northern from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.50.

About Citizens & Northern

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.