Citizens & Northern Corp (NASDAQ:CZNC – Get Free Report) declared a quarterly dividend on Thursday, October 22nd. Investors of record on Monday, November 2nd will be paid a dividend of $0.30 per share by the financial services provider on Friday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, November 2nd. This is a 7.1% increase from Citizens & Northern’s previous quarterly dividend of $0.28.
Citizens & Northern has a dividend payout ratio of 56.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Citizens & Northern to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 40.7%.
Citizens & Northern Trading Up 4.2%
NASDAQ CZNC traded up $1.11 on Friday, reaching $27.75. The company had a trading volume of 114,798 shares, compared to its average volume of 55,424. The firm has a market cap of $497.56 million, a price-to-earnings ratio of 18.75 and a beta of 0.41. Citizens & Northern has a fifty-two week low of $18.87 and a fifty-two week high of $27.78. The business has a 50 day moving average of $25.64 and a two-hundred day moving average of $23.80. 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 – Get Free Report) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.68 by $0.24. The business had revenue of $40.07 million for the quarter, compared to analysts’ expectations of $37.20 million. Citizens & Northern had a return on equity of 9.54% and a net margin of 13.28%. Analysts forecast that Citizens & Northern will post 2.17 EPS for the current year.
Institutional Investors Weigh In On Citizens & Northern
A number of hedge funds have recently modified their holdings of CZNC. Renaissance Technologies LLC boosted its position in shares of Citizens & Northern by 1.1% in the first quarter. Renaissance Technologies LLC now owns 53,441 shares of the financial services provider’s stock worth $1,194,000 after purchasing an additional 586 shares during the period. State of Alaska Department of Revenue grew its holdings in Citizens & Northern by 70.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 1,630 shares of the financial services provider’s stock valued at $39,000 after buying an additional 674 shares in the last quarter. Hudock Inc. raised its holdings in shares of Citizens & Northern by 1.6% during the 3rd quarter. Hudock Inc. now owns 51,592 shares of the financial services provider’s stock worth $1,291,000 after acquiring an additional 790 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Citizens & Northern by 9.3% in the first 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 in the last quarter. Finally, Legal & General Group Plc bought a new stake in Citizens & Northern in the second quarter worth $42,000. 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. Through its principal subsidiary, Citizens & Northern Bank, the company provides community banking services to individuals, families, businesses and organizations.
The bank offers deposit accounts, consumer and commercial lending, residential mortgages, agricultural loans, cash-management services and online and mobile banking. It also provides wealth management, trust and investment services, as well as insurance and other financial solutions through affiliated businesses and service providers.
Founded in 1864, Citizens & Northern has a long history of serving communities in north-central Pennsylvania and nearby areas of southern New York.
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