JPMorgan Chase & Co. Grows Position in Citizens & Northern Co. (NASDAQ:CZNC)

JPMorgan Chase & Co. increased its stake in Citizens & Northern Co. (NASDAQ:CZNC - Free Report) by 117.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 52,275 shares of the financial services provider's stock after buying an additional 28,243 shares during the quarter. JPMorgan Chase & Co. owned 0.34% of Citizens & Northern worth $972,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CZNC. Wilmington Savings Fund Society FSB purchased a new position in Citizens & Northern in the third quarter valued at about $37,000. SG Americas Securities LLC lifted its stake in Citizens & Northern by 22.3% in the fourth quarter. SG Americas Securities LLC now owns 6,327 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 1,153 shares during the last quarter. Barclays PLC grew its holdings in Citizens & Northern by 290.1% during the third quarter. Barclays PLC now owns 19,388 shares of the financial services provider's stock valued at $381,000 after purchasing an additional 14,418 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Citizens & Northern in the fourth quarter worth $429,000. Finally, Hudock Inc. raised its stake in shares of Citizens & Northern by 42.2% in the fourth quarter. Hudock Inc. now owns 46,235 shares of the financial services provider's stock valued at $860,000 after buying an additional 13,712 shares during the period. Institutional investors own 30.83% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Citizens & Northern from a "buy" rating to a "hold" rating in a research note on Friday, February 28th.

Citizens & Northern Stock Performance

Shares of CZNC traded up $0.27 during trading hours on Friday, hitting $19.22. The company's stock had a trading volume of 16,132 shares, compared to its average volume of 28,956. The business has a 50 day simple moving average of $19.77 and a two-hundred day simple moving average of $19.86. Citizens & Northern Co. has a 52-week low of $16.50 and a 52-week high of $22.68. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $297.18 million, a price-to-earnings ratio of 11.37 and a beta of 0.40.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.03). The business had revenue of $27.19 million for the quarter, compared to the consensus estimate of $28.30 million. Citizens & Northern had a net margin of 16.50% and a return on equity of 9.71%. On average, equities analysts expect that Citizens & Northern Co. will post 1.91 earnings per share for the current fiscal year.

Citizens & Northern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Sunday, May 4th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $1.12 annualized dividend and a yield of 5.83%. Citizens & Northern's dividend payout ratio is currently 64.00%.

Insider Buying and Selling at Citizens & Northern

In other news, Director Terry L. Lehman acquired 1,400 shares of Citizens & Northern stock in a transaction that occurred on Tuesday, April 29th. The stock was bought at an average price of $18.70 per share, with a total value of $26,180.00. Following the completion of the purchase, the director now owns 28,237 shares in the company, valued at approximately $528,031.90. The trade was a 5.22 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders purchased 2,210 shares of company stock valued at $41,542 in the last quarter. 4.49% of the stock is currently owned by corporate insiders.

Citizens & Northern Profile

Citizens & Northern Corp. is a holding company, which engages in community banking. It provides a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. The firm's lending products include mortgage loans, commercial loans, and consumer loans.