Citizens & Northern (NASDAQ:CZNC) Upgraded to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Citizens & Northern to “strong-buy” from “buy,” while the broader analyst consensus remains “Hold” with a $23.50 price target.
• Citizens & Northern reported quarterly EPS of $0.79, beating the $0.63 consensus estimate, and revenue of $39.65 million, ahead of the $38.60 million forecast.
• The stock rose 1.1% to $26.11, near its 12-month high of $26.26, with a market capitalization of approximately $468 million; institutional investors own 30.83% of shares.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Saturday, Wall Street Zen reports.

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

Citizens & Northern Trading Up 1.1%

NASDAQ CZNC opened at $26.11 on Friday. The stock's 50-day simple moving average is $24.67 and its two-hundred day simple moving average is $23.06. Citizens & Northern has a twelve month low of $18.87 and a twelve month high of $26.26. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $468.15 million, a price-to-earnings ratio of 17.64 and a beta of 0.40.

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

Hedge Funds Weigh In On Citizens & Northern

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its stake in shares of Citizens & Northern by 1.1% during the first quarter. Renaissance Technologies LLC now owns 53,441 shares of the financial services provider's stock valued at $1,194,000 after purchasing an additional 586 shares during the period. Jane Street Group LLC grew its holdings in shares of Citizens & Northern by 2.8% in the fourth quarter. Jane Street Group LLC now owns 25,127 shares of the financial services provider's stock worth $507,000 after purchasing an additional 673 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Citizens & Northern by 71.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider's stock worth $36,000 after buying an additional 749 shares during the period. Barclays PLC increased its stake in shares of Citizens & Northern by 3.0% in the fourth quarter. Barclays PLC now owns 26,947 shares of the financial services provider's stock worth $544,000 after buying an additional 774 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Citizens & Northern by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 14,504 shares of the financial services provider's stock worth $287,000 after buying an additional 892 shares during the period. 30.83% of the stock is owned by hedge funds and other institutional investors.

Citizens & Northern Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source