Hudock Inc. Sells 3,305 Shares of Citizens & Northern Co. (NASDAQ:CZNC)

Hudock Inc. lowered its stake in Citizens & Northern Co. (NASDAQ:CZNC) by 9.1% during the second quarter, Holdings Channel reports. The firm owned 33,020 shares of the financial services provider’s stock after selling 3,305 shares during the period. Hudock Inc.’s holdings in Citizens & Northern were worth $591,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Citizens & Northern by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 742,332 shares of the financial services provider’s stock worth $13,941,000 after acquiring an additional 13,488 shares during the last quarter. Citizens & Northern Corp raised its stake in Citizens & Northern by 7.0% in the 2nd quarter. Citizens & Northern Corp now owns 329,394 shares of the financial services provider’s stock worth $5,893,000 after acquiring an additional 21,443 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Citizens & Northern by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 98,808 shares of the financial services provider’s stock worth $1,768,000 after buying an additional 4,173 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Citizens & Northern by 82.6% during the first quarter. BNP Paribas Financial Markets now owns 7,605 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 3,440 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in Citizens & Northern by 40.1% during the fourth quarter. New York State Common Retirement Fund now owns 5,603 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,605 shares during the last quarter. 30.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Citizens & Northern from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th.

Citizens & Northern Stock Performance

Shares of Citizens & Northern stock traded down $0.31 during trading hours on Thursday, hitting $19.17. 3,483 shares of the company’s stock traded hands, compared to its average volume of 25,272. The company has a fifty day simple moving average of $19.07 and a 200-day simple moving average of $18.21. Citizens & Northern Co. has a 12-month low of $16.50 and a 12-month high of $23.50. The stock has a market capitalization of $295.03 million, a price-to-earnings ratio of 12.82 and a beta of 0.47. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.94.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $27.50 million during the quarter, compared to the consensus estimate of $26.90 million. Citizens & Northern had a return on equity of 9.06% and a net margin of 15.75%. Equities research analysts anticipate that Citizens & Northern Co. will post 1.66 EPS for the current fiscal year.

Citizens & Northern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Monday, July 29th were paid a $0.28 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.84%. Citizens & Northern’s payout ratio is 73.68%.

Citizens & Northern Company Profile

Citizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides various banking and related services to individual and corporate customers. Its deposit products include various types of checking accounts, passbook and statement savings, money market accounts, interest checking accounts, and individual retirement accounts, as well as certificates of deposit; and lending products, including commercial, mortgage, and consumer loans, as well as specialized instruments, such as commercial letters-of-credit.