Bank of New York Mellon Corp Invests $1.19 Million in Citizens Financial Services Inc. $CZFS

Key Points

• Bank of New York Mellon initiated a $1.19 million position in Citizens Financial Services, purchasing 16,376 shares and owning 0.34% of the company. Institutional investors collectively hold 22.49% of CZFS.
• Citizens Financial Services beat quarterly expectations, reporting $2.12 in EPS versus the $1.98 estimate and revenue of $29.71 million against the $29.30 million consensus.
• The company declared a quarterly dividend of $0.51 per share, equivalent to $2.04 annually and a 2.5% yield. Despite mixed analyst actions, CZFS maintains a consensus “Buy” rating.

Bank of New York Mellon Corp bought a new stake in Citizens Financial Services Inc. (NASDAQ:CZFS - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,376 shares of the company's stock, valued at approximately $1,186,000. Bank of New York Mellon Corp owned 0.34% of Citizens Financial Services at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CZFS. Jane Street Group LLC purchased a new position in Citizens Financial Services during the 1st quarter worth $249,000. Geode Capital Management LLC boosted its stake in shares of Citizens Financial Services by 1.6% during the second quarter. Geode Capital Management LLC now owns 106,338 shares of the company's stock worth $6,246,000 after buying an additional 1,681 shares during the period. Rhumbline Advisers grew its holdings in shares of Citizens Financial Services by 25.4% during the second quarter. Rhumbline Advisers now owns 6,604 shares of the company's stock worth $388,000 after buying an additional 1,337 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Citizens Financial Services by 1.4% during the second quarter. American Century Companies Inc. now owns 28,344 shares of the company's stock worth $1,664,000 after buying an additional 400 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Citizens Financial Services in the 2nd quarter valued at about $124,000. Hedge funds and other institutional investors own 22.49% of the company's stock.

Citizens Financial Services Trading Up 0.4%

Shares of CZFS stock opened at $82.55 on Thursday. The business's fifty day moving average price is $77.98 and its 200 day moving average price is $69.26. Citizens Financial Services Inc. has a 1-year low of $52.35 and a 1-year high of $84.65. The firm has a market capitalization of $397.07 million, a PE ratio of 9.65 and a beta of 0.36. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.02 and a quick ratio of 1.01.

Citizens Financial Services (NASDAQ:CZFS - Get Free Report) last released 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. Citizens Financial Services had a return on equity of 12.06% and a net margin of 23.31%.The company had revenue of $29.71 million during the quarter, compared to the consensus estimate of $29.30 million. As a group, sell-side analysts forecast that Citizens Financial Services Inc. will post 8.72 EPS for the current fiscal year.

Citizens Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $2.04 dividend on an annualized basis and a yield of 2.5%. Citizens Financial Services's payout ratio is currently 23.86%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CZFS shares. Wall Street Zen downgraded Citizens Financial Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded Citizens Financial Services from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, July 28th. Finally, Zacks Research lowered shares of Citizens Financial Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

Citizens Financial Services Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.