Citizens & Northern (NASDAQ:CZNC) Upgraded to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Citizens & Northern from “buy” to “strong-buy,” while Weiss Ratings also raised its view to “buy” and Zacks Research upgraded the stock to “hold.” Despite these improvements, the overall analyst consensus remains “Hold,” with a $23.50 target price.
• 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 $25.98, near its 12-month high of $26.26, with a market capitalization of approximately $465.8 million; institutional investors own 30.83% of the company.

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

A number of other equities analysts also recently commented on CZNC. Weiss Ratings upgraded Citizens & Northern from a "hold (c+)" rating to a "buy (b)" rating in a research report on Tuesday. Zacks Research upgraded Citizens & Northern from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $23.50.

Citizens & Northern Stock Down 0.1%

Shares of NASDAQ CZNC opened at $25.98 on Friday. Citizens & Northern has a 12-month low of $18.87 and a 12-month high of $26.26. The stock has a market cap of $465.82 million, a PE ratio of 17.55 and a beta of 0.40. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $23.54 and a 200 day moving average of $22.76.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) last released its earnings results on Friday, August 7th. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.16. The business had revenue of $39.65 million for the quarter, compared to analyst estimates of $38.60 million. Citizens & Northern had a net margin of 13.28% and a return on equity of 9.54%. As a group, sell-side analysts predict that Citizens & Northern will post 2.17 EPS for the current fiscal year.

Institutional Trading of Citizens & Northern

A number of hedge funds and other institutional investors have recently made changes to their positions in CZNC. Renaissance Technologies LLC raised its position in shares of Citizens & Northern by 1.1% during the 1st quarter. Renaissance Technologies LLC now owns 53,441 shares of the financial services provider's stock valued at $1,194,000 after buying an additional 586 shares during the period. Jane Street Group LLC lifted its holdings in Citizens & Northern by 2.8% in the fourth quarter. Jane Street Group LLC now owns 25,127 shares of the financial services provider's stock valued at $507,000 after acquiring an additional 673 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position 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 acquiring an additional 749 shares during the period. Barclays PLC grew its position in Citizens & Northern by 3.0% in the fourth quarter. Barclays PLC now owns 26,947 shares of the financial services provider's stock worth $544,000 after acquiring an additional 774 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Citizens & Northern by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 14,504 shares of the financial services provider's stock worth $287,000 after acquiring an additional 892 shares during the last quarter. Institutional investors and hedge funds 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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