Citizens & Northern (NASDAQ:CZNC) Upgraded by Zacks Research to “Hold” Rating

Citizens & Northern (NASDAQ:CZNC) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

CZNC has been the topic of a number of other reports. Wall Street Zen cut Citizens & Northern from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings downgraded Citizens & Northern from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Citizens & Northern presently has a consensus rating of “Hold” and an average target price of $23.50.

Citizens & Northern Stock Down 1.0%

Shares of Citizens & Northern stock opened at $23.24 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.53. Citizens & Northern has a 52-week low of $18.16 and a 52-week high of $24.25. The company has a market capitalization of $416.46 million, a P/E ratio of 21.32 and a beta of 0.41. The company has a 50 day moving average of $21.82 and a 200 day moving average of $22.07.

Citizens & Northern (NASDAQ:CZNC) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.56). The firm had revenue of $36.90 million during the quarter, compared to analyst estimates of $35.60 million. Citizens & Northern had a net margin of 9.67% and a return on equity of 7.47%. As a group, research analysts forecast that Citizens & Northern will post 1.97 EPS for the current fiscal year.

Institutional Trading of Citizens & Northern

A number of hedge funds and other institutional investors have recently made changes to their positions in CZNC. Legato Capital Management LLC acquired a new stake in shares of Citizens & Northern in the 4th quarter valued at about $647,000. Citizens & Northern Corp increased its position 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 buying an additional 40,323 shares during the period. Innova Wealth Partners purchased a new stake in Citizens & Northern in the fourth quarter valued at approximately $203,000. Empowered Funds LLC purchased a new stake in Citizens & Northern in the first quarter valued at approximately $236,000. Finally, Deutsche Bank AG boosted its holdings in shares of Citizens & Northern by 53.2% in the fourth quarter. Deutsche Bank AG now owns 9,797 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 3,404 shares during the period. Institutional investors and hedge funds own 30.83% of the company’s stock.

Citizens & Northern Company Profile

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.