Citizens & Northern (NASDAQ:CZNC) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Citizens & Northern Corp (NASDAQ:CZNC)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.26 and traded as high as $25.91. Citizens & Northern shares last traded at $25.76, with a volume of 38,964 shares.

Analyst Ratings Changes

CZNC has been the topic of several research reports. Zacks Research upgraded shares of Citizens & Northern from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen lowered Citizens & Northern from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 13th. Finally, Weiss Ratings raised Citizens & Northern from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.50.

Citizens & Northern Stock Performance

The stock has a market cap of $452.19 million, a price-to-earnings ratio of 17.04 and a beta of 0.40. The company’s fifty day simple moving average is $25.31 and its two-hundred day simple moving average is $23.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.91 and a quick ratio of 0.91.

Citizens & Northern (NASDAQ:CZNC) last announced its earnings results on Friday, August 7th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.16. The company had revenue of $39.65 million for the quarter, compared to analysts’ expectations of $38.60 million. Citizens & Northern had a return on equity of 9.54% and a net margin of 13.28%. On average, analysts forecast that Citizens & Northern Corp will post 2.17 earnings per share for the current year.

Citizens & Northern Announces Dividend

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

Hedge Funds Weigh In On Citizens & Northern

Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc bought a new position in shares of Citizens & Northern in the second quarter valued at approximately $42,000. Royal Bank of Canada boosted its position in Citizens & Northern by 932.6% in the first quarter. Royal Bank of Canada now owns 6,753 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 6,099 shares during the last quarter. Bank of America Corp DE bought a new position in Citizens & Northern in the 2nd quarter valued at $367,000. Deutsche Bank AG bought a new position in Citizens & Northern in the 2nd quarter valued at $399,000. Finally, Empowered Funds LLC increased its position in shares of Citizens & Northern by 9.3% during the 1st quarter. Empowered Funds LLC now owns 17,956 shares of the financial services provider’s stock valued at $401,000 after purchasing an additional 1,523 shares during the last quarter. Institutional investors own 30.83% of the company’s stock.

Citizens & Northern Company Profile

Citizens & Northern Corporation is a bank holding company headquartered in Wellsboro, Pennsylvania. Its principal subsidiary, Citizens & Northern Bank, provides community banking services to individuals, businesses, nonprofit organizations and municipalities.

The bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial loans, agricultural financing and other credit products. It also provides electronic and digital banking, cash-management services, trust and fiduciary services, investment services and insurance-related products.

Founded in 1864, Citizens & Northern has a long history of serving communities in north-central Pennsylvania and the Southern Tier of New York.