Wall Street Zen upgraded shares of Citizens & Northern (NASDAQ:CZNC – Free Report) from a buy rating to a strong-buy rating in a research note released on Saturday.
A number of other analysts have also weighed in on the stock. Weiss Ratings upgraded shares of Citizens & Northern from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Zacks Research upgraded shares of Citizens & Northern from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.50.
Read Our Latest Research Report on CZNC
Citizens & Northern Price Performance
Citizens & Northern (NASDAQ:CZNC – Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.16. The company had revenue of $39.65 million for the quarter, compared to the consensus estimate of $38.60 million. Citizens & Northern had a net margin of 13.28% and a return on equity of 9.54%. On average, sell-side analysts forecast that Citizens & Northern will post 2.17 EPS for the current fiscal year.
Citizens & Northern Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, August 3rd. Citizens & Northern’s dividend payout ratio (DPR) is 75.68%.
Institutional Trading of Citizens & Northern
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Citizens & Northern during the 2nd quarter worth about $31,685,000. Bank of New York Mellon Corp acquired a new position in shares of Citizens & Northern in the second quarter worth approximately $2,859,000. Segall Bryant & Hamill LLC bought a new stake in Citizens & Northern in the first quarter valued at approximately $1,498,000. Geode Capital Management LLC increased its position in Citizens & Northern by 13.8% during the 4th 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. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Citizens & Northern in the 2nd quarter worth approximately $977,000. 30.83% of the stock is currently owned by institutional investors and hedge funds.
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.
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