Citizens & Northern Corp $CZNC Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC cut its stake in shares of Citizens & Northern Corp (NASDAQ:CZNC) by 9.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,062 shares of the financial services provider’s stock after selling 6,825 shares during the quarter. IVC Wealth Advisors LLC owned about 0.43% of Citizens & Northern worth $1,270,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CZNC. Stone House Investment Management LLC grew its stake in shares of Citizens & Northern by 95.1% during the 1st quarter. Stone House Investment Management LLC now owns 98,639 shares of the financial services provider’s stock worth $1,985,000 after purchasing an additional 48,074 shares during the period. Millennium Management LLC grew its stake in Citizens & Northern by 270.6% in the 4th quarter. Millennium Management LLC now owns 40,704 shares of the financial services provider’s stock valued at $757,000 after acquiring an additional 29,722 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Citizens & Northern by 89.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,805 shares of the financial services provider’s stock valued at $881,000 after acquiring an additional 20,720 shares during the last quarter. Jane Street Group LLC acquired a new stake in Citizens & Northern in the 1st quarter valued at about $324,000. Finally, Empowered Funds LLC acquired a new stake in Citizens & Northern in the 1st quarter valued at about $236,000. 30.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CZNC shares. Zacks Research cut shares of Citizens & Northern from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Citizens & Northern in a research note on Saturday, September 27th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Citizens & Northern currently has a consensus rating of “Hold”.

Citizens & Northern Price Performance

NASDAQ:CZNC opened at $19.47 on Friday. The firm has a market cap of $302.17 million, a price-to-earnings ratio of 11.13 and a beta of 0.56. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average is $19.66 and its two-hundred day moving average is $19.39. Citizens & Northern Corp has a 12-month low of $17.85 and a 12-month high of $22.68.

Citizens & Northern (NASDAQ:CZNC) last released its earnings results on Friday, August 8th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.07). The firm had revenue of $29.28 million during the quarter, compared to analysts’ expectations of $27.70 million. Citizens & Northern had a net margin of 16.77% and a return on equity of 9.60%. Research analysts expect that Citizens & Northern Corp will post 1.91 EPS for the current year.

Citizens & Northern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Monday, August 4th. Citizens & Northern’s dividend payout ratio is 64.00%.

Citizens & Northern Profile

Citizens & Northern Corp. is a holding company, which engages in community banking. It provides a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. The firm’s lending products include mortgage loans, commercial loans, and consumer loans.