Citizens Financial Services (NASDAQ:CZFS) Announces Quarterly Earnings Results

Citizens Financial Services (NASDAQ:CZFS) issued its quarterly earnings results on Thursday. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.14, Zacks reports. Citizens Financial Services had a return on equity of 11.89% and a net margin of 22.47%.

Citizens Financial Services Trading Down 1.1%

NASDAQ:CZFS traded down $0.88 during trading hours on Thursday, reaching $76.38. 32,502 shares of the company were exchanged, compared to its average volume of 10,889. The firm has a market cap of $366.62 million, a price-to-earnings ratio of 9.33 and a beta of 0.36. The stock has a 50 day simple moving average of $69.63 and a 200 day simple moving average of $65.57. Citizens Financial Services has a 52-week low of $49.99 and a 52-week high of $79.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.95 and a quick ratio of 0.95.

Citizens Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.51 per share. This is an increase from Citizens Financial Services’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, June 12th. Citizens Financial Services’s payout ratio is 24.91%.

Institutional Trading of Citizens Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in Citizens Financial Services during the fourth quarter valued at about $422,000. Millennium Management LLC lifted its stake in shares of Citizens Financial Services by 118.4% in the 4th quarter. Millennium Management LLC now owns 13,206 shares of the company’s stock valued at $753,000 after purchasing an additional 7,158 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Citizens Financial Services in the 3rd quarter valued at about $301,000. Goldman Sachs Group Inc. grew its holdings in shares of Citizens Financial Services by 142.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,435 shares of the company’s stock worth $481,000 after purchasing an additional 4,960 shares during the period. Finally, Trexquant Investment LP increased its position in Citizens Financial Services by 71.7% during the 4th quarter. Trexquant Investment LP now owns 10,614 shares of the company’s stock worth $605,000 after purchasing an additional 4,432 shares in the last quarter. 22.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Zacks Research raised Citizens Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Weiss Ratings upgraded Citizens Financial Services from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Citizens Financial Services Company Profile

Citizens Financial Services, Inc (NASDAQ:CZFS) is a bank holding company headquartered in Elderton, Pennsylvania, providing a range of retail and commercial banking services through its primary subsidiary, Citizens Savings Bank. The company offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit, supported by online and mobile banking platforms tailored to personal and business clients.

Beyond deposit-taking, Citizens Financial Services underwrites a variety of lending products, including residential mortgage loans, home equity financing, commercial real estate loans, construction lending and consumer installment loans.