Citizens & Northern (NASDAQ:CZNC) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Citizens & Northern Corp (NASDAQ:CZNC)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.94 and traded as high as $22.66. Citizens & Northern shares last traded at $22.38, with a volume of 31,327 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CZNC shares. Janney Montgomery Scott upgraded Citizens & Northern to a “hold” rating in a research note on Wednesday, October 22nd. Weiss Ratings raised Citizens & Northern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 15th. Finally, Piper Sandler lifted their price objective on Citizens & Northern from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Citizens & Northern Stock Performance

The company has a market capitalization of $384.84 million, a price-to-earnings ratio of 12.28 and a beta of 0.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50 day simple moving average of $20.65 and a two-hundred day simple moving average of $19.95.

Citizens & Northern (NASDAQ:CZNC) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.06). Citizens & Northern had a net margin of 16.81% and a return on equity of 9.75%. The business had revenue of $29.57 million during the quarter, compared to analysts’ expectations of $28.50 million. As a group, analysts anticipate that Citizens & Northern Corp will post 1.91 earnings per share for the current year.

Citizens & Northern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 5.2%. The ex-dividend date is Monday, February 2nd. Citizens & Northern’s dividend payout ratio is currently 63.64%.

Institutional Investors Weigh In On Citizens & Northern

Several hedge funds and other institutional investors have recently bought and sold shares of CZNC. Russell Investments Group Ltd. lifted its position in Citizens & Northern by 521.1% in the third quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,433 shares during the last quarter. ST Germain D J Co. Inc. acquired a new stake in shares of Citizens & Northern during the second quarter worth about $35,000. Raymond James Financial Inc. purchased a new stake in shares of Citizens & Northern in the 2nd quarter valued at about $58,000. Tower Research Capital LLC TRC lifted its holdings in shares of Citizens & Northern by 596.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 2,939 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Citizens & Northern by 210.2% in the 3rd quarter. CWM LLC now owns 3,574 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 2,422 shares during the period. 30.83% of the stock is currently owned by institutional investors and hedge funds.

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.