Citizens & Northern (NASDAQ:CZNC) Releases Earnings Results, Beats Expectations By $0.24 EPS

Key Points

• Citizens & Northern beat quarterly expectations: The bank reported $0.92 in EPS versus the $0.68 consensus estimate, while revenue reached $40.07 million compared with expectations of $37.20 million.
• Shares rose 3.9% to $26.64 following the earnings release, near the stock’s 12-month high of $26.73. The company reported a 9.54% return on equity and a 13.28% net margin.
• Analyst sentiment remains cautious, with one Buy rating and two Hold ratings; the average target price of $23.50 is below the current share price.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) posted its quarterly earnings results on Thursday. The financial services provider reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.24, FiscalAI reports. The business had revenue of $40.07 million for the quarter, compared to analysts' expectations of $37.20 million. Citizens & Northern had a return on equity of 9.54% and a net margin of 13.28%.

Citizens & Northern Stock Up 3.9%

CZNC traded up $1.01 during trading on Thursday, hitting $26.64. The stock had a trading volume of 132,932 shares, compared to its average volume of 55,129. Citizens & Northern has a twelve month low of $18.87 and a twelve month high of $26.73. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $477.66 million, a PE ratio of 18.00 and a beta of 0.41. The stock has a 50 day simple moving average of $25.62 and a two-hundred day simple moving average of $23.77.

Wall Street Analyst Weigh In

CZNC has been the subject of several research reports. Zacks Research raised shares of Citizens & Northern from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Wall Street Zen cut Citizens & Northern from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, Weiss Ratings raised shares of Citizens & Northern from a "hold (c+)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $23.50.

Citizens & Northern Company Profile

Citizens & Northern Corporation is a bank holding company for Citizens & Northern Bank, a community banking institution headquartered in Wellsboro, Pennsylvania. Founded in 1864, the bank serves individuals, families, farmers, businesses and organizations through a network of offices in north-central Pennsylvania and southern New York.

Citizens & Northern Bank offers a range of traditional banking products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial loans and agricultural lending.

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