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

Shares of Citizens & Northern Corp (NASDAQ:CZNC) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $22.07 and traded as high as $23.76. Citizens & Northern shares last traded at $23.24, with a volume of 37,199 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CZNC shares. Weiss Ratings downgraded Citizens & Northern from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Wall Street Zen cut Citizens & Northern from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Zacks Research downgraded Citizens & Northern from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Citizens & Northern presently has a consensus rating of “Reduce” and an average target price of $23.50.

Citizens & Northern Price Performance

The firm’s fifty day simple moving average is $21.82 and its 200-day simple moving average is $22.07. The firm has a market capitalization of $416.46 million, a PE ratio of 21.32 and a beta of 0.41. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.53.

Citizens & Northern (NASDAQ:CZNC) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.56). Citizens & Northern had a net margin of 9.67% and a return on equity of 7.47%. The firm had revenue of $36.90 million for the quarter, compared to the consensus estimate of $35.60 million. On average, research analysts forecast that Citizens & Northern Corp will post 1.97 earnings per share for the current fiscal year.

Citizens & Northern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a $0.28 dividend. The ex-dividend date was Monday, May 4th. This represents a $1.12 annualized dividend and a dividend yield of 4.8%. Citizens & Northern’s payout ratio is currently 102.75%.

Institutional Investors Weigh In On Citizens & Northern

Several institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its holdings in Citizens & Northern by 521.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,433 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Citizens & Northern by 71.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 749 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Citizens & Northern during the 2nd quarter valued at about $58,000. Tower Research Capital LLC TRC grew its stake in shares of Citizens & Northern by 596.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 2,939 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Citizens & Northern by 62.9% in the third quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 1,391 shares during the period. 30.83% of the stock is owned by hedge funds and other institutional investors.

Citizens & Northern Company Profile

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.