Citizens & Northern (NASDAQ:CZNC) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Citizens & Northern from “strong-buy” to “buy,” while the broader analyst consensus remains “hold” with an average price target of $23.50.
• Citizens & Northern reported quarterly EPS of $0.79, beating estimates of $0.63, and revenue of $39.65 million, ahead of the $38.60 million consensus.
• The stock opened at $25.97, near its 52-week high of $26.26, with a market capitalization of approximately $465.6 million; institutional investors own 30.83% of outstanding shares.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Sunday, Wall Street Zen reports.

CZNC has been the subject of several other reports. Weiss Ratings upgraded Citizens & Northern from a "hold (c+)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Zacks Research raised Citizens & Northern from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $23.50.

Citizens & Northern Price Performance

Shares of NASDAQ:CZNC opened at $25.97 on Friday. The firm's fifty day moving average is $24.90 and its 200-day moving average is $23.13. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 0.91. Citizens & Northern has a 52 week low of $18.87 and a 52 week high of $26.26. The firm has a market cap of $465.64 million, a PE ratio of 17.55 and a beta of 0.40.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The financial services provider reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.16. The firm had revenue of $39.65 million during the quarter, compared to analyst estimates of $38.60 million. Citizens & Northern had a net margin of 13.28% and a return on equity of 9.54%. Sell-side analysts predict that Citizens & Northern will post 2.17 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings in shares of Citizens & Northern by 521.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider's stock worth $34,000 after acquiring an additional 1,433 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position 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 worth $36,000 after purchasing an additional 749 shares during the period. Legal & General Group Plc purchased a new position in Citizens & Northern in the 2nd quarter worth $42,000. Raymond James Financial Inc. purchased a new position in Citizens & Northern in the 2nd quarter worth $58,000. Finally, Tower Research Capital LLC TRC lifted its stake in Citizens & Northern by 596.1% in the second 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. 30.83% of the stock is owned by hedge funds and other institutional investors.

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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