Citizens & Northern (NASDAQ:CZNC) Shares Break Above 200 Day Moving Average - Time to Sell?

Key Points

• Citizens & Northern shares rose above their 200-day moving average of $23.40, reaching $25.71 and last trading at $25.28.
• Analyst sentiment remains cautious: the stock has an average rating of “Hold” from four analysts, with a consensus price target of $23.50—below its recent trading price.
• The company beat quarterly expectations, reporting $0.79 in EPS versus $0.63 expected, while maintaining a quarterly dividend of $0.28, equivalent to a 4.4% annual yield.

Citizens & Northern Corp (NASDAQ:CZNC - Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $23.40 and traded as high as $25.71. Citizens & Northern shares last traded at $25.28, with a volume of 40,256 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Citizens & Northern from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 13th. Zacks Research raised shares of Citizens & Northern from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Weiss Ratings raised shares of Citizens & Northern from a "hold (c+)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $23.50.

Citizens & Northern Stock Performance

The firm has a market capitalization of $453.27 million, a price-to-earnings ratio of 17.08 and a beta of 0.40. The stock's fifty day moving average is $25.51 and its two-hundred day moving average is $23.40. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.45.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.16. The firm had revenue of $39.65 million for the quarter, compared to analyst estimates of $38.60 million. Citizens & Northern had a net margin of 13.28% and a return on equity of 9.54%. On average, analysts predict that Citizens & Northern Corp will post 2.17 earnings per share for the current year.

Citizens & Northern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, August 3rd. Citizens & Northern's dividend payout ratio is presently 75.68%.

Institutional Investors Weigh In On Citizens & Northern

Hedge funds have recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in Citizens & Northern during the second quarter worth approximately $42,000. Royal Bank of Canada raised its stake in Citizens & Northern by 932.6% in the first quarter. Royal Bank of Canada now owns 6,753 shares of the financial services provider's stock valued at $151,000 after buying an additional 6,099 shares during the period. Bank of America Corp DE acquired a new stake in shares of Citizens & Northern in the second quarter valued at approximately $367,000. Deutsche Bank AG acquired a new stake in shares of Citizens & Northern in the second quarter valued at approximately $399,000. Finally, Empowered Funds LLC boosted its stake in shares of Citizens & Northern by 9.3% during the 1st quarter. Empowered Funds LLC now owns 17,956 shares of the financial services provider's stock worth $401,000 after acquiring an additional 1,523 shares during the period. 30.83% of the stock is currently owned by institutional investors and hedge funds.

Citizens & Northern Company Profile

Citizens & Northern Corporation is a bank holding company headquartered in Wellsboro, Pennsylvania. Its principal subsidiary, Citizens & Northern Bank, provides community banking services to individuals, businesses, nonprofit organizations and municipalities.

The bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial loans, agricultural financing and other credit products. It also provides electronic and digital banking, cash-management services, trust and fiduciary services, investment services and insurance-related products.

Founded in 1864, Citizens & Northern has a long history of serving communities in north-central Pennsylvania and the Southern Tier of New York.

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