Citizens & Northern (NASDAQ:CZNC) Releases Earnings Results

Citizens & Northern (NASDAQ:CZNC) issued its earnings results on Friday. The financial services provider reported $999.00 earnings per share (EPS) for the quarter, Zacks reports. Citizens & Northern had a net margin of 13.75% and a return on equity of 9.79%.

Citizens & Northern Price Performance

CZNC stock traded down $0.15 during mid-day trading on Friday, hitting $21.63. The stock had a trading volume of 22,818 shares, compared to its average volume of 33,757. The firm has a fifty day simple moving average of $22.60 and a 200 day simple moving average of $21.53. The firm has a market capitalization of $387.39 million, a P/E ratio of 14.61 and a beta of 0.44. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. Citizens & Northern has a 52 week low of $18.02 and a 52 week high of $24.11.

Citizens & Northern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, May 4th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Monday, May 4th. Citizens & Northern’s dividend payout ratio (DPR) is currently 75.68%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CZNC shares. Weiss Ratings raised Citizens & Northern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 15th. Piper Sandler lifted their target price on Citizens & Northern from $22.50 to $23.50 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Wall Street Zen lowered Citizens & Northern from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Zacks Research cut Citizens & Northern from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Citizens & Northern presently has an average rating of “Hold” and a consensus price target of $23.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Citizens & Northern by 34.7% in the 4th quarter. Invesco Ltd. now owns 15,192 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 3,916 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Citizens & Northern by 10.8% during the 4th quarter. Empowered Funds LLC now owns 16,433 shares of the financial services provider’s stock worth $331,000 after buying an additional 1,605 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Citizens & Northern by 5.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 31,933 shares of the financial services provider’s stock worth $644,000 after buying an additional 1,605 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Citizens & Northern by 16.9% during the 4th quarter. AQR Capital Management LLC now owns 48,147 shares of the financial services provider’s stock valued at $971,000 after acquiring an additional 6,970 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in Citizens & Northern by 8.9% during the 4th quarter. Osaic Holdings Inc. now owns 11,436 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 933 shares during the last quarter. 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.