Citizens & Northern (NASDAQ:CZNC) Lowered to Buy Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Citizens & Northern from “strong buy” to “buy.” Overall analyst sentiment remains “Hold,” with a consensus price target of $23.50.
• Citizens & Northern reported quarterly earnings of $0.79 per share, exceeding the $0.63 consensus estimate, while revenue of $39.65 million also topped expectations.
• The stock opened at $25.80, near its 52-week high of $26.26, and institutional investors own approximately 30.83% of the company, with BlackRock recently acquiring a stake valued at about $31.7 million.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Sunday.

Other equities analysts also recently issued reports about the company. Zacks Research raised Citizens & Northern from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings raised shares of Citizens & Northern from a "hold (c+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Citizens & Northern has a consensus rating of "Hold" and an average price target of $23.50.

Citizens & Northern Stock Up 0.4%

CZNC stock opened at $25.80 on Friday. The stock has a market capitalization of $462.59 million, a PE ratio of 17.43 and a beta of 0.40. The firm has a 50 day moving average of $23.95 and a 200 day moving average of $22.90. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.45. Citizens & Northern has a 52 week low of $18.87 and a 52 week high of $26.26.

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

Institutional Trading of Citizens & Northern

Institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC acquired a new stake in Citizens & Northern during the 2nd quarter worth $450,000. Bank of America Corp DE acquired a new position in Citizens & Northern in the second quarter valued at $367,000. Legal & General Group Plc purchased a new stake in shares of Citizens & Northern in the second quarter valued at about $42,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Citizens & Northern in the second quarter valued at about $977,000. Finally, BlackRock Inc. acquired a new stake in shares of Citizens & Northern during the second quarter worth about $31,685,000. 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.

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