Citizens & Northern (NASDAQ:CZNC) Cut to “Strong Sell” at Zacks Research

Citizens & Northern (NASDAQ:CZNC) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

CZNC has been the topic of several other research reports. Piper Sandler upped their price objective on shares of Citizens & Northern from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Weiss Ratings downgraded shares of Citizens & Northern from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Wall Street Zen downgraded shares of Citizens & Northern from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $23.50.

Citizens & Northern Stock Down 0.2%

CZNC stock opened at $21.00 on Monday. Citizens & Northern has a 12 month low of $18.02 and a 12 month high of $24.11. The firm has a 50 day simple moving average of $22.50 and a 200 day simple moving average of $21.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $376.32 million, a PE ratio of 19.27 and a beta of 0.44.

Citizens & Northern (NASDAQ:CZNC) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $35.60 million. Equities research analysts forecast that Citizens & Northern will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Citizens & Northern

A number of hedge funds and other institutional investors have recently made changes to their positions in CZNC. Empowered Funds LLC acquired a new stake in shares of Citizens & Northern during the 1st quarter worth about $236,000. Jane Street Group LLC acquired a new stake in Citizens & Northern in the 1st quarter valued at about $324,000. Rhumbline Advisers boosted its stake in shares of Citizens & Northern by 7.5% in the 2nd quarter. Rhumbline Advisers now owns 22,685 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 1,592 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Citizens & Northern by 105.3% in the 2nd quarter. Marshall Wace LLP now owns 57,870 shares of the financial services provider’s stock valued at $1,096,000 after purchasing an additional 29,687 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Citizens & Northern in the 2nd quarter valued at about $58,000. 30.83% of the stock is owned by institutional investors.

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.