Citizens & Northern (NASDAQ:CZNC) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Citizens & Northern shares moved above their 200-day moving average, trading as high as $23.27 and last changing hands at $23.26, signaling a modest technical rebound.
• Analyst sentiment remains cautious: several firms have recently trimmed or lifted ratings to Hold, and the stock’s average price target is $23.50.
• The company recently reported earnings well below expectations, with Q1 EPS of $0.02 versus the $0.58 consensus, even though revenue came in slightly above estimates.

Shares of Citizens & Northern Corp (NASDAQ:CZNC - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.29 and traded as high as $23.27. Citizens & Northern shares last traded at $23.26, with a volume of 59,695 shares traded.

Analysts Set New Price Targets

CZNC has been the subject of several research analyst reports. Weiss Ratings lowered Citizens & Northern from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Zacks Research upgraded shares of Citizens & Northern from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Finally, Wall Street Zen cut shares of Citizens & Northern from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $23.50.

Citizens & Northern Price Performance

The firm has a 50 day moving average price of $22.12 and a two-hundred day moving average price of $22.29. The company has a market cap of $416.82 million, a P/E ratio of 21.34 and a beta of 0.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.91 and a current ratio of 0.91.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.56). The firm had revenue of $36.90 million during the quarter, compared to the consensus estimate of $35.60 million. Citizens & Northern had a net margin of 9.67% and a return on equity of 7.47%. On average, analysts predict that Citizens & Northern Corp will post 1.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Citizens & Northern

Several institutional investors have recently made changes to their positions in CZNC. Vanguard Group Inc. grew its holdings in Citizens & Northern by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 823,059 shares of the financial services provider's stock valued at $16,305,000 after buying an additional 18,165 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Citizens & Northern by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 620,287 shares of the financial services provider's stock valued at $13,857,000 after purchasing an additional 16,030 shares during the period. Geode Capital Management LLC boosted its holdings in Citizens & Northern by 13.8% in the 4th quarter. Geode Capital Management LLC now owns 416,153 shares of the financial services provider's stock valued at $8,396,000 after purchasing an additional 50,343 shares during the period. Citizens & Northern Corp grew its position in shares of Citizens & Northern by 12.6% during the 4th quarter. Citizens & Northern Corp now owns 361,412 shares of the financial services provider's stock valued at $7,290,000 after purchasing an additional 40,323 shares in the last quarter. Finally, State Street Corp grew its position in shares of Citizens & Northern by 1.5% during the 4th quarter. State Street Corp now owns 322,819 shares of the financial services provider's stock valued at $6,511,000 after purchasing an additional 4,806 shares in 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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