Citizens & Northern (NASDAQ:CZNC) Stock Breaks Above 200-Day Moving Average – Here’s What Happened

Citizens & Northern Corp (NASDAQ:CZNC)’s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $23.55 and traded as high as $25.43. Citizens & Northern shares last traded at $25.20, with a volume of 45,126 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Citizens & Northern from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings upgraded shares of Citizens & Northern from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen lowered Citizens & Northern from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 13th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $23.50.

Citizens & Northern Trading Down 1.3%

The stock has a market capitalization of $447.30 million, a price-to-earnings ratio of 16.85 and a beta of 0.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50-day moving average of $25.64 and a 200-day moving average of $23.57.

Citizens & Northern (NASDAQ:CZNC) last issued its quarterly earnings data on Friday, August 7th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.16. Citizens & Northern had a net margin of 13.28% and a return on equity of 9.54%. The company had revenue of $39.65 million for the quarter, compared to the consensus estimate of $38.60 million. As a group, research analysts forecast that Citizens & Northern Corp will post 2.17 EPS for the current year.

Citizens & Northern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, August 3rd. Citizens & Northern’s dividend payout ratio is presently 75.68%.

Institutional Trading of Citizens & Northern

A number of institutional investors have recently modified their holdings of CZNC. Hudock Inc. boosted its holdings in Citizens & Northern by 17.7% in the 2nd quarter. Hudock Inc. now owns 50,802 shares of the financial services provider’s stock worth $1,184,000 after acquiring an additional 7,650 shares during the period. Empowered Funds LLC acquired a new stake in Citizens & Northern during the 2nd quarter valued at approximately $450,000. Bank of America Corp DE acquired a new stake in Citizens & Northern during the 2nd quarter valued at approximately $367,000. Legal & General Group Plc purchased a new stake in Citizens & Northern during the 2nd quarter worth approximately $42,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Citizens & Northern during the 2nd quarter worth approximately $977,000. Hedge funds and other institutional investors own 30.83% of the company’s stock.

Citizens & Northern Company Profile

Citizens & Northern Corporation is a bank holding company for Citizens & Northern Bank, a community banking institution headquartered in Wellsboro, Pennsylvania. Founded in 1864, the bank serves individuals, families, farmers, businesses and organizations through a network of offices in north-central Pennsylvania and southern New York.

Citizens & Northern Bank offers a range of traditional banking products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial loans and agricultural lending.