Stone House Investment Management LLC Purchases 48,074 Shares of 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 grew its position in Citizens & Northern Corp (NASDAQ:CZNC - Free Report) by 95.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,639 shares of the financial services provider's stock after acquiring an additional 48,074 shares during the period. Citizens & Northern accounts for 0.4% of Stone House Investment Management LLC's portfolio, making the stock its 26th largest holding. Stone House Investment Management LLC owned about 0.64% of Citizens & Northern worth $1,985,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Deutsche Bank AG boosted its stake in Citizens & Northern by 3.6% in the 4th quarter. Deutsche Bank AG now owns 14,566 shares of the financial services provider's stock worth $271,000 after purchasing an additional 504 shares during the period. BNP Paribas Financial Markets raised its holdings in Citizens & Northern by 28.7% in the 4th quarter. BNP Paribas Financial Markets now owns 4,117 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 918 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Citizens & Northern by 3.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 42,672 shares of the financial services provider's stock worth $859,000 after purchasing an additional 1,547 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of 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 acquiring an additional 1,900 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of 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 acquiring an additional 2,512 shares in the last quarter. Institutional investors own 30.83% of the company's stock.

Citizens & Northern Price Performance

Shares of NASDAQ CZNC traded down $0.29 during trading hours on Friday, hitting $19.11. 58,679 shares of the stock were exchanged, compared to its average volume of 47,143. The company has a market cap of $296.59 million, a PE ratio of 10.92 and a beta of 0.55. 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 simple moving average is $19.19 and its two-hundred day simple moving average is $19.65. Citizens & Northern Corp has a 1-year low of $17.85 and a 1-year high of $22.68.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) last posted its quarterly earnings results 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). Citizens & Northern had a return on equity of 9.60% and a net margin of 16.77%. The company had revenue of $29.28 million during the quarter, compared to analyst estimates of $27.70 million. On average, sell-side analysts predict that Citizens & Northern Corp will post 1.91 EPS for the current year.

Citizens & Northern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.9%. 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.