Segall Bryant & Hamill LLC Buys Shares of 67,058 Citizens & Northern Corp $CZNC

Key Points

• Segall Bryant & Hamill LLC acquired 67,058 shares of Citizens & Northern, worth approximately $1.5 million, giving it a 0.37% stake. Institutional investors collectively own 30.83% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $23.50, despite some recent upgrades. CZNC opened at $25.30 and trades near its 12-month high of $25.84.
• Citizens & Northern reported quarterly EPS of $0.02, well below the $0.58 estimate, while revenue exceeded expectations. The company declared a quarterly dividend of $0.28 per share, representing a 4.4% annualized yield.

Segall Bryant & Hamill LLC bought a new position in shares of Citizens & Northern Corp (NASDAQ:CZNC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 67,058 shares of the financial services provider's stock, valued at approximately $1,498,000. Segall Bryant & Hamill LLC owned 0.37% of Citizens & Northern as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Citizens & Northern by 13.8% in the 4th quarter. Geode Capital Management LLC now owns 416,153 shares of the financial services provider's stock valued at $8,396,000 after buying an additional 50,343 shares during the period. Citizens & Northern Corp raised its stake in Citizens & Northern by 12.6% during the fourth quarter. Citizens & Northern Corp now owns 361,412 shares of the financial services provider's stock worth $7,290,000 after acquiring an additional 40,323 shares during the period. Legato Capital Management LLC bought a new position in Citizens & Northern in the fourth quarter worth about $647,000. Marshall Wace LLP lifted its holdings in Citizens & Northern by 105.3% in the second quarter. Marshall Wace LLP now owns 57,870 shares of the financial services provider's stock worth $1,096,000 after acquiring an additional 29,687 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Citizens & Northern by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 604,257 shares of the financial services provider's stock worth $12,188,000 after acquiring an additional 18,510 shares during the last quarter. 30.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CZNC shares. Wall Street Zen raised Citizens & Northern from a "hold" rating to a "buy" rating in a report on Saturday. Zacks Research raised Citizens & Northern from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Finally, Weiss Ratings upgraded Citizens & Northern from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 24th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $23.50.

Citizens & Northern Stock Down 0.0%

CZNC opened at $25.30 on Wednesday. The stock's 50 day moving average price is $22.80 and its 200 day moving average price is $22.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $453.29 million, a P/E ratio of 23.21 and a beta of 0.40. Citizens & Northern Corp has a 12 month low of $18.20 and a 12 month high of $25.84.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.56). The business had revenue of $36.90 million for the quarter, compared to analyst estimates of $35.60 million. Citizens & Northern had a return on equity of 7.47% and a net margin of 9.67%. As a group, research analysts predict that Citizens & Northern Corp will post 2.17 earnings per share for the current year.

Citizens & Northern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.12 annualized dividend and a yield of 4.4%. Citizens & Northern's dividend payout ratio (DPR) is presently 102.75%.

About Citizens & Northern

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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