Citizens & Northern (NASDAQ:CZNC) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Citizens & Northern Corp (NASDAQ:CZNC) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analyst Upgrades and Downgrades

CZNC has been the subject of several analyst reports. Weiss Ratings lowered shares of Citizens & Northern from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Zacks Research raised shares of Citizens & Northern from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Wall Street Zen cut shares of Citizens & Northern from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.50.

Citizens & Northern Price Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50 day moving average price of $21.79 and a 200-day moving average price of $22.09. The company has a market capitalization of $408.33 million, a price-to-earnings ratio of 20.91 and a beta of 0.41.

Citizens & Northern (NASDAQ:CZNC) last released its earnings results on Wednesday, April 29th. The financial services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.56). Citizens & Northern had a return on equity of 7.47% and a net margin of 9.67%.The business had revenue of $36.90 million for the quarter, compared to analyst estimates of $35.60 million. Research analysts predict that Citizens & Northern Corp will post 1.97 EPS for the current fiscal year.

Citizens & Northern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.12 annualized dividend and a dividend yield of 4.9%. Citizens & Northern’s dividend payout ratio (DPR) is 102.75%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CZNC. Vanguard Group Inc. grew its holdings in Citizens & Northern by 2.3% in the third quarter. Vanguard Group Inc. now owns 823,059 shares of the financial services provider’s stock worth $16,305,000 after purchasing an additional 18,165 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Citizens & Northern by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 620,287 shares of the financial services provider’s stock valued at $13,857,000 after purchasing an additional 16,030 shares during the period. Geode Capital Management LLC raised its holdings in shares of Citizens & Northern by 13.8% during the fourth quarter. Geode Capital Management LLC now owns 416,153 shares of the financial services provider’s stock valued at $8,396,000 after purchasing an additional 50,343 shares during the period. Citizens & Northern Corp boosted its position in shares of Citizens & Northern by 12.6% during the 4th quarter. Citizens & Northern Corp now owns 361,412 shares of the financial services provider’s stock worth $7,290,000 after purchasing an additional 40,323 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Citizens & Northern by 1.5% in the 4th quarter. State Street Corp now owns 322,819 shares of the financial services provider’s stock valued at $6,511,000 after buying an additional 4,806 shares during the period. 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.