Citizens & Northern (NASDAQ:CZNC) Director Acquires $20,830.00 in Stock

Citizens & Northern Corp (NASDAQ:CZNC) Director Terry Lehman acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $20.83 per share, for a total transaction of $20,830.00. Following the completion of the transaction, the director directly owned 30,317 shares in the company, valued at approximately $631,503.11. This represents a 3.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Citizens & Northern Price Performance

CZNC stock traded down $0.24 during trading on Wednesday, hitting $20.76. The stock had a trading volume of 42,271 shares, compared to its average volume of 44,325. The company’s 50 day moving average price is $22.50 and its two-hundred day moving average price is $21.57. Citizens & Northern Corp has a 1-year low of $18.02 and a 1-year high of $24.11. The stock has a market cap of $372.02 million, a price-to-earnings ratio of 19.05 and a beta of 0.44. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.91 and a current ratio of 0.91.

Citizens & Northern (NASDAQ:CZNC) last announced its 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 during the quarter, compared to analyst estimates of $35.60 million. On average, sell-side analysts forecast that Citizens & Northern Corp will post 1.97 EPS for the current fiscal year.

Citizens & Northern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 4th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $1.12 annualized dividend and a yield of 5.4%. Citizens & Northern’s payout ratio is presently 75.68%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CZNC. Russell Investments Group Ltd. increased its stake in shares of Citizens & Northern by 521.1% during the 3rd 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. CANADA LIFE ASSURANCE Co increased its stake 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. acquired a new position in shares of Citizens & Northern during the 2nd quarter valued at about $58,000. Tower Research Capital LLC TRC increased its stake in shares of Citizens & Northern by 596.1% during 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 acquiring an additional 2,939 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Citizens & Northern by 210.2% during the 3rd quarter. CWM LLC now owns 3,574 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 2,422 shares during the last quarter. Institutional investors and hedge funds own 30.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CZNC shares. Zacks Research downgraded shares of Citizens & Northern from a “hold” rating to a “strong sell” rating in a research note on Monday. Wall Street Zen downgraded shares of Citizens & Northern from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Piper Sandler boosted their target price 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. Finally, Weiss Ratings downgraded shares of Citizens & Northern from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $23.50.

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.