Citizens & Northern Co. (NASDAQ:CZNC) declared a quarterly dividend on Thursday, July 16th, Fidelity reports. Stockholders of record on Monday, July 27th will be given a dividend of 0.27 per share by the financial services provider on Friday, August 7th. This represents a $1.08 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend is Friday, July 24th.
Citizens & Northern has raised its dividend payment by an average of 3.9% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Citizens & Northern has a payout ratio of 64.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Citizens & Northern to earn $1.27 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 85.0%.
NASDAQ:CZNC opened at $18.94 on Thursday. The firm’s 50-day moving average is $19.82 and its 200-day moving average is $21.37. Citizens & Northern has a 52-week low of $15.69 and a 52-week high of $29.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $267.87 million, a price-to-earnings ratio of 12.30 and a beta of 0.42.
Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter. The company had revenue of $19.56 million for the quarter. Citizens & Northern had a net margin of 20.86% and a return on equity of 8.83%. Equities analysts predict that Citizens & Northern will post 1.44 EPS for the current year.
CZNC has been the topic of a number of analyst reports. Piper Sandler initiated coverage on shares of Citizens & Northern in a research note on Wednesday, July 1st. They issued a “hold” rating and a $21.00 target price on the stock. BidaskClub cut shares of Citizens & Northern from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $21.00.
In other news, Director Terry L. Lehman purchased 3,000 shares of Citizens & Northern stock in a transaction on Wednesday, June 17th. The shares were purchased at an average cost of $19.93 per share, for a total transaction of $59,790.00. Following the completion of the transaction, the director now directly owns 13,259 shares in the company, valued at $264,251.87. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank G. Pellegrino purchased 2,121 shares of Citizens & Northern stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $16.91 per share, for a total transaction of $35,866.11. Following the completion of the transaction, the director now owns 13,456 shares of the company’s stock, valued at $227,540.96. The disclosure for this purchase can be found here. In the last three months, insiders purchased 6,885 shares of company stock worth $129,773. 4.09% of the stock is currently owned by insiders.
About Citizens & Northern
Citizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides a range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York. The company offers deposit products, including various types of checking accounts, passbook and statement savings accounts, money market accounts, interest checking accounts, individual retirement accounts, and certificates of deposits, as well as non-insured RepoSweep accounts.
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