Citizens & Northern (NASDAQ:CZNC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Citizens & Northern (NASDAQ:CZNC) from a hold rating to a buy rating in a research report report published on Saturday morning.

CZNC has been the subject of several other reports. Weiss Ratings upgraded Citizens & Northern from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Zacks Research raised Citizens & Northern from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, Citizens & Northern has an average rating of “Hold” and an average target price of $23.50.

Citizens & Northern Stock Performance

Shares of CZNC opened at $25.30 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.53. The stock has a market cap of $453.38 million, a P/E ratio of 23.21 and a beta of 0.40. The business’s 50 day moving average price is $22.71 and its 200-day moving average price is $22.52. Citizens & Northern has a 52 week low of $18.16 and a 52 week high of $25.84.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share 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 company had revenue of $36.90 million for the quarter, compared to the consensus estimate of $35.60 million. Equities research analysts anticipate that Citizens & Northern will post 2.17 earnings per share for the current fiscal year.

Citizens & Northern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.12 annualized dividend and a dividend yield of 4.4%. Citizens & Northern’s dividend payout ratio (DPR) is 102.75%.

Hedge Funds Weigh In On Citizens & Northern

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new stake in Citizens & Northern during the 1st quarter valued at $236,000. Jane Street Group LLC purchased a new position in shares of Citizens & Northern in the first quarter worth $324,000. Rhumbline Advisers lifted its holdings in shares of Citizens & Northern by 7.5% during the second 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 in the last quarter. Marshall Wace LLP lifted its holdings in shares of Citizens & Northern by 105.3% during the second 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 in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Citizens & Northern during the second quarter valued at $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.