Citizens & Northern (NASDAQ:CZNC) Issues Earnings Results

Key Points

• Citizens & Northern reported quarterly EPS of $0.79, surpassing the consensus estimate of $0.63 by $0.16. The company posted a 7.47% return on equity and a 9.67% net margin.
• The stock rose 0.4% to $25.36, near its 52-week high of $25.84. Analysts maintain a consensus “Hold” rating with a target price of $23.50.
• The company declared a quarterly dividend of $0.28, equivalent to $1.12 annually and a 4.4% yield; its payout ratio stands at 102.75%.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) announced its quarterly earnings results on Friday. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.16, Zacks reports. Citizens & Northern had a return on equity of 7.47% and a net margin of 9.67%.

Citizens & Northern Trading Up 0.4%

Citizens & Northern stock traded up $0.09 during trading hours on Friday, reaching $25.36. The stock had a trading volume of 53,784 shares, compared to its average volume of 52,659. The company has a fifty day simple moving average of $22.96 and a 200-day simple moving average of $22.60. Citizens & Northern has a 52 week low of $18.49 and a 52 week high of $25.84. The stock has a market cap of $454.45 million, a PE ratio of 23.27 and a beta of 0.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.91 and a quick ratio of 0.91.

Citizens & Northern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a $0.28 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.12 annualized dividend and a dividend yield of 4.4%. Citizens & Northern's dividend payout ratio (DPR) is currently 102.75%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CZNC shares. Zacks Research upgraded Citizens & Northern from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Wall Street Zen upgraded Citizens & Northern from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings raised Citizens & Northern from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 24th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $23.50.

Institutional Trading of Citizens & Northern

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CZNC. Russell Investments Group Ltd. increased its position in shares of Citizens & Northern by 521.1% during the third quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider's stock valued at $34,000 after buying an additional 1,433 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in 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 purchasing an additional 749 shares during the period. Raymond James Financial Inc. bought a new position in Citizens & Northern during the 2nd quarter valued at approximately $58,000. Tower Research Capital LLC TRC raised its stake in Citizens & Northern by 596.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider's stock valued at $65,000 after buying an additional 2,939 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Citizens & Northern by 62.9% during the third quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider's stock valued at $71,000 after buying an additional 1,391 shares during the last quarter. Hedge funds and other institutional investors own 30.83% of the company's stock.

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.

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