Citizens & Northern Corp (NASDAQ:CZNC) Declares $0.28 Quarterly Dividend

Citizens & Northern Corp (NASDAQ:CZNC - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Shareholders of record on Monday, August 4th will be given a dividend of 0.28 per share by the financial services provider on Friday, August 15th. This represents a $1.12 annualized dividend and a yield of 5.84%.

Citizens & Northern has a payout ratio of 56.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Citizens & Northern to earn $2.02 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 55.4%.

Citizens & Northern Stock Performance

NASDAQ CZNC traded down $0.60 during trading on Thursday, hitting $19.18. 22,994 shares of the company's stock traded hands, compared to its average volume of 32,989. The stock has a market capitalization of $297.10 million, a price-to-earnings ratio of 10.96 and a beta of 0.49. Citizens & Northern has a 12-month low of $17.25 and a 12-month high of $22.68. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50 day moving average of $19.15 and a 200-day moving average of $19.67.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.03). Citizens & Northern had a net margin of 16.92% and a return on equity of 9.80%. The company had revenue of $27.19 million for the quarter, compared to the consensus estimate of $28.30 million. As a group, equities research analysts anticipate that Citizens & Northern will post 1.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Citizens & Northern

In related news, Director Terry L. Lehman acquired 1,400 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were bought at an average cost of $18.70 per share, for a total transaction of $26,180.00. Following the completion of the transaction, the director owned 28,237 shares in the company, valued at approximately $528,031.90. This trade represents a 5.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 1,860 shares of company stock worth $35,045 in the last quarter. Corporate insiders own 4.49% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Citizens & Northern stock. Jane Street Group LLC acquired a new position in Citizens & Northern Corp (NASDAQ:CZNC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,086 shares of the financial services provider's stock, valued at approximately $324,000. Jane Street Group LLC owned about 0.10% of Citizens & Northern at the end of the most recent quarter. Hedge funds and other institutional investors own 30.83% of the company's stock.

Citizens & Northern Company 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.

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