Connor Clark & Lunn Investment Management Ltd. Buys 20,720 Shares of Citizens & Northern Corp $CZNC

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Citizens & Northern Corp (NASDAQ:CZNC - Free Report) by 89.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,805 shares of the financial services provider's stock after buying an additional 20,720 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.28% of Citizens & Northern worth $881,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CZNC. GAMMA Investing LLC raised its stake in Citizens & Northern by 4,814.8% during the 1st quarter. GAMMA Investing LLC now owns 2,998 shares of the financial services provider's stock worth $60,000 after buying an additional 2,937 shares during the period. BNP Paribas Financial Markets raised its stake in Citizens & Northern by 28.7% during the 4th quarter. BNP Paribas Financial Markets now owns 4,117 shares of the financial services provider's stock worth $77,000 after buying an additional 918 shares during the period. Wells Fargo & Company MN raised its stake in Citizens & Northern by 24.6% during the 4th quarter. Wells Fargo & Company MN now owns 9,634 shares of the financial services provider's stock worth $179,000 after buying an additional 1,900 shares during the period. MetLife Investment Management LLC raised its stake in Citizens & Northern by 33.1% during the 4th quarter. MetLife Investment Management LLC now owns 10,101 shares of the financial services provider's stock worth $188,000 after buying an additional 2,512 shares during the period. Finally, Alexander Labrunerie & CO. Inc. acquired a new position in Citizens & Northern during the 1st quarter worth approximately $207,000. 30.83% of the stock is owned by institutional investors and hedge funds.

Citizens & Northern Stock Up 4.6%

CZNC traded up $0.89 during midday trading on Friday, reaching $20.37. 28,623 shares of the company were exchanged, compared to its average volume of 34,955. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 0.94. The company's fifty day moving average price is $19.23 and its 200 day moving average price is $19.59. The company has a market cap of $316.14 million, a price-to-earnings ratio of 11.64 and a beta of 0.55. Citizens & Northern Corp has a one year low of $17.85 and a one year high of $22.68.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The financial services provider reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.07). The company had revenue of $29.28 million for the quarter, compared to the consensus estimate of $27.70 million. Citizens & Northern had a return on equity of 9.60% and a net margin of 16.77%. As a group, analysts expect that Citizens & Northern Corp will post 1.91 EPS for the current year.

Citizens & Northern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Monday, August 4th. Citizens & Northern's payout ratio is currently 64.00%.

About Citizens & Northern

Citizens & Northern Corp. is a holding company, which engages in community banking. It provides a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. The firm's lending products include mortgage loans, commercial loans, and consumer loans.