Stone House Investment Management LLC Increases Stock Position in Citizens & Northern Corp (NASDAQ:CZNC)

Key Points

• Stone House Investment Management LLC significantly increased its stake in Citizens & Northern Corp by 95.1% in the 1st quarter, now holding approximately 98,639 shares valued at about $1.99 million.
• Citizens & Northern Corp recently announced a quarterly dividend of $0.28 per share, representing an annualized yield of 6.0%.
• Despite a revenue of $29.28 million exceeding estimates, the company reported an earnings per share (EPS) of $0.40, missing analyst expectations of $0.47.

Stone House Investment Management LLC raised its holdings in Citizens & Northern Corp (NASDAQ:CZNC - Free Report) by 95.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,639 shares of the financial services provider's stock after purchasing an additional 48,074 shares during the period. Citizens & Northern makes up about 0.4% of Stone House Investment Management LLC's portfolio, making the stock its 26th largest holding. Stone House Investment Management LLC owned approximately 0.64% of Citizens & Northern worth $1,985,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Millennium Management LLC raised its position in shares of Citizens & Northern by 270.6% in the 4th quarter. Millennium Management LLC now owns 40,704 shares of the financial services provider's stock valued at $757,000 after buying an additional 29,722 shares in the last quarter. JPMorgan Chase & Co. increased its position in Citizens & Northern by 117.5% during the 4th quarter. JPMorgan Chase & Co. now owns 52,275 shares of the financial services provider's stock worth $972,000 after purchasing an additional 28,243 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Citizens & Northern by 89.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,805 shares of the financial services provider's stock worth $881,000 after purchasing an additional 20,720 shares in the last quarter. Marshall Wace LLP acquired a new position in Citizens & Northern during the 4th quarter worth approximately $382,000. Finally, Squarepoint Ops LLC increased its position in Citizens & Northern by 101.3% during the 4th quarter. Squarepoint Ops LLC now owns 22,719 shares of the financial services provider's stock worth $423,000 after purchasing an additional 11,431 shares in the last quarter. Institutional investors own 30.83% of the company's stock.

Citizens & Northern Trading Down 2.3%

NASDAQ CZNC traded down $0.45 on Thursday, hitting $19.40. The company's stock had a trading volume of 39,845 shares, compared to its average volume of 35,041. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.64. Citizens & Northern Corp has a 1-year low of $17.85 and a 1-year high of $22.68. The firm has a market cap of $300.99 million, a PE ratio of 11.09 and a beta of 0.55. The company's 50-day moving average is $19.18 and its 200 day moving average is $19.66.

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

Citizens & Northern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 4th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Monday, August 4th. Citizens & Northern's dividend payout ratio is currently 64.00%.

Citizens & Northern Company Profile

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.