Citizens & Northern (NASDAQ:CZNC) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• Citizens & Northern Corp (NASDAQ:CZNC) shares recently surpassed their 200-day moving average, trading at $19.87 with a recent high of $20.06.
• The company reported quarterly earnings of $0.40 per share, missing estimates by $0.07, but the revenue exceeded expectations at $29.28 million.
• Citizens & Northern announced a quarterly dividend of $0.28 per share, resulting in a yield of 5.6% and a payout ratio of 64%.

Citizens & Northern Corp (NASDAQ:CZNC - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $19.47 and traded as high as $20.06. Citizens & Northern shares last traded at $19.87, with a volume of 14,494 shares trading hands.

Citizens & Northern Stock Performance

The firm has a market capitalization of $308.38 million, a PE ratio of 11.35 and a beta of 0.58. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $19.62 and a 200 day moving average of $19.47.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The financial services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.07). Citizens & Northern had a net margin of 16.77% and a return on equity of 9.60%. The business had revenue of $29.28 million during the quarter, compared to analysts' expectations of $27.70 million. Equities research analysts predict that Citizens & Northern Corp will post 1.91 EPS for the current year.

Citizens & Northern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were given a dividend of $0.28 per share. The ex-dividend date was Monday, August 4th. This represents a $1.12 annualized dividend and a yield of 5.6%. Citizens & Northern's payout ratio is presently 64.00%.

Institutional Trading of Citizens & Northern

Several institutional investors and hedge funds have recently made changes to their positions in CZNC. Stone House Investment Management LLC grew its position in Citizens & Northern by 95.1% in the first quarter. Stone House Investment Management LLC now owns 98,639 shares of the financial services provider's stock worth $1,985,000 after acquiring an additional 48,074 shares in the last quarter. Millennium Management LLC lifted its stake in Citizens & Northern by 270.6% during the fourth quarter. Millennium Management LLC now owns 40,704 shares of the financial services provider's stock worth $757,000 after purchasing an additional 29,722 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Citizens & Northern by 105.3% in the 2nd quarter. Marshall Wace LLP now owns 57,870 shares of the financial services provider's stock worth $1,096,000 after purchasing an additional 29,687 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Citizens & Northern by 89.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,805 shares of the financial services provider's stock worth $881,000 after purchasing an additional 20,720 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Citizens & Northern during the 1st quarter valued at about $324,000. 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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