Citizens & Northern (NASDAQ:CZNC) Announces Earnings Results

Key Points

• Citizens & Northern reported earnings for the quarter, with the article citing $999.00 EPS, alongside a return on equity of 9.79% and net margin of 13.75%.
• The stock was down 0.7% on Friday, trading at $21.63, near the middle of its 52-week range of $18.02 to $24.11.
• The company declared a quarterly dividend of $0.28 per share, equal to a 5.2% annualized yield, with payment scheduled for May 15.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) announced its earnings results on Friday. The financial services provider reported $999.00 EPS for the quarter, Zacks reports. Citizens & Northern had a return on equity of 9.79% and a net margin of 13.75%.

Citizens & Northern Stock Down 0.7%

Shares of NASDAQ CZNC traded down $0.15 during midday trading on Friday, hitting $21.63. 22,818 shares of the company's stock were exchanged, compared to its average volume of 44,515. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. Citizens & Northern has a twelve month low of $18.02 and a twelve month high of $24.11. The company has a market cap of $387.39 million, a PE ratio of 14.61 and a beta of 0.44. The firm's fifty day simple moving average is $22.60 and its 200-day simple moving average is $21.53.

Citizens & Northern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, May 4th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, May 4th. Citizens & Northern's dividend payout ratio (DPR) is 75.68%.

Institutional Investors Weigh In On Citizens & Northern

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its position in shares of Citizens & Northern by 521.1% during 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 in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Citizens & Northern by 71.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider's stock worth $36,000 after acquiring an additional 749 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Citizens & Northern during the 2nd quarter worth about $58,000. Tower Research Capital LLC TRC raised its position in shares of Citizens & Northern by 596.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider's stock worth $65,000 after acquiring an additional 2,939 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Citizens & Northern by 62.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider's stock worth $71,000 after acquiring an additional 1,391 shares in the last quarter. Institutional investors and hedge funds own 30.83% of the company's stock.

Analyst Upgrades and Downgrades

CZNC has been the subject of a number of research analyst reports. Zacks Research cut Citizens & Northern from a "strong-buy" rating to a "hold" rating in a report on Monday, March 16th. Piper Sandler raised their target price on Citizens & Northern from $22.50 to $23.50 and gave the company a "neutral" rating in a report on Thursday, January 29th. Weiss Ratings upgraded Citizens & Northern from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, January 15th. Finally, Wall Street Zen cut Citizens & Northern from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $23.50.

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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