Citizens & Northern (NASDAQ:CZNC) Posts Earnings Results, Beats Expectations By $0.16 EPS

Citizens & Northern (NASDAQ:CZNC) released its earnings results on Friday. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.16, Zacks reports. Citizens & Northern had a return on equity of 7.47% and a net margin of 9.67%.The firm had revenue of $39.65 million for the quarter, compared to the consensus estimate of $38.60 million.

Citizens & Northern Price Performance

NASDAQ:CZNC opened at $25.36 on Friday. The stock has a 50 day moving average of $23.05 and a two-hundred day moving average of $22.62. Citizens & Northern has a 12 month low of $18.49 and a 12 month high of $25.84. The firm has a market cap of $454.38 million, a P/E ratio of 17.14 and a beta of 0.40. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.53.

Citizens & Northern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 4.4%. The ex-dividend date is Monday, August 3rd. Citizens & Northern’s payout ratio is 75.68%.

Institutional Trading of Citizens & Northern

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in shares of Citizens & Northern by 521.1% in the third quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,433 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Citizens & Northern by 71.4% in 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. purchased a new position in Citizens & Northern in the 2nd quarter worth approximately $58,000. Tower Research Capital LLC TRC boosted its holdings 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 worth $65,000 after purchasing an additional 2,939 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Citizens & Northern by 62.9% in the third quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 1,391 shares during the last quarter. 30.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on CZNC shares. Wall Street Zen raised Citizens & Northern from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Zacks Research raised shares of Citizens & Northern from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings raised Citizens & Northern from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.