Citizens & Northern (NASDAQ:CZNC) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

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%.

Shares of Citizens & Northern Corp (NASDAQ:CZNC - Get Free Report) 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 traded.

Citizens & Northern Stock Performance

The company has a market cap of $307.76 million, a PE ratio of 11.33 and a beta of 0.58. The stock's 50 day simple moving average is $19.62 and its two-hundred day simple moving average is $19.43. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.64.

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

Citizens & Northern Dividend Announcement

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

Institutional Investors Weigh In On Citizens & Northern

Several institutional investors have recently bought and sold shares of CZNC. Stone House Investment Management LLC raised its holdings in shares of Citizens & Northern by 95.1% during the 1st quarter. Stone House Investment Management LLC now owns 98,639 shares of the financial services provider's stock valued at $1,985,000 after buying an additional 48,074 shares during the period. Millennium Management LLC boosted its holdings in Citizens & Northern by 270.6% in the 4th quarter. Millennium Management LLC now owns 40,704 shares of the financial services provider's stock worth $757,000 after acquiring an additional 29,722 shares during the period. Marshall Wace LLP grew its position in Citizens & Northern by 105.3% in the second quarter. Marshall Wace LLP now owns 57,870 shares of the financial services provider's stock valued at $1,096,000 after acquiring an additional 29,687 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Citizens & Northern by 89.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,805 shares of the financial services provider's stock valued at $881,000 after purchasing an additional 20,720 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Citizens & Northern during the first quarter worth $324,000. 30.83% of the stock is currently owned by hedge funds and other institutional investors.

About Citizens & Northern

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.