Citizens Financial Services Inc. (NASDAQ:CZFS) Announces Quarterly Dividend of $0.51

Key Points

• Citizens Financial Services declared a quarterly dividend of $0.51 per share, payable September 25 to shareholders of record on September 11. The dividend implies a 2.5% annualized yield and is well covered by earnings, with a 28.7% payout ratio.
• The company reported quarterly EPS of $2.12, exceeding analyst estimates of $1.98, while revenue reached $29.71 million versus expectations of $29.30 million.
• CZFS shares opened at $82.26, down 0.8%, near the top of their 12-month range of $52.35 to $84.65. Institutional investors own approximately 22.49% of the stock.

Citizens Financial Services Inc. (NASDAQ:CZFS - Get Free Report) declared a quarterly dividend on Tuesday, September 1st. Investors of record on Friday, September 11th will be given a dividend of 0.51 per share on Friday, September 25th. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, September 11th.

Citizens Financial Services has increased its dividend payment by an average of 0.0%per year over the last three years. Citizens Financial Services has a dividend payout ratio of 28.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Citizens Financial Services to earn $8.81 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 23.2%.

Citizens Financial Services Trading Down 0.8%

CZFS stock opened at $82.26 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 1.12. Citizens Financial Services has a 12-month low of $52.35 and a 12-month high of $84.65. The stock has a market cap of $395.67 million, a price-to-earnings ratio of 9.62 and a beta of 0.36. The business's 50-day moving average is $77.81 and its 200 day moving average is $69.12.

Citizens Financial Services (NASDAQ:CZFS - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.14. The business had revenue of $29.71 million during the quarter, compared to analysts' expectations of $29.30 million. Citizens Financial Services had a return on equity of 12.06% and a net margin of 23.31%. On average, sell-side analysts anticipate that Citizens Financial Services will post 8.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Citizens Financial Services

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its holdings in shares of Citizens Financial Services by 39.4% in the second quarter. BNP Paribas Financial Markets now owns 658 shares of the company's stock valued at $39,000 after purchasing an additional 186 shares during the last quarter. Royal Bank of Canada grew its holdings in Citizens Financial Services by 93.5% in the 4th quarter. Royal Bank of Canada now owns 447 shares of the company's stock valued at $25,000 after buying an additional 216 shares in the last quarter. American Century Companies Inc. grew its holdings in Citizens Financial Services by 1.4% in the 2nd quarter. American Century Companies Inc. now owns 28,344 shares of the company's stock valued at $1,664,000 after buying an additional 400 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Citizens Financial Services in the 2nd quarter worth $35,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Citizens Financial Services by 12.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,591 shares of the company's stock worth $277,000 after acquiring an additional 510 shares during the last quarter. 22.49% of the stock is currently owned by hedge funds and other institutional investors.

About Citizens Financial Services

Citizens Financial Services, Inc NASDAQ: CZFS is a bank holding company headquartered in Elderton, Pennsylvania, providing a range of retail and commercial banking services through its primary subsidiary, Citizens Savings Bank. The company offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit, supported by online and mobile banking platforms tailored to personal and business clients.

Beyond deposit-taking, Citizens Financial Services underwrites a variety of lending products, including residential mortgage loans, home equity financing, commercial real estate loans, construction lending and consumer installment loans.

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