Citizens & Northern Corp (NASDAQ:CZNC) Announces $0.28 Quarterly Dividend

Citizens & Northern Corp (NASDAQ:CZNC) announced a quarterly dividend on Thursday, July 23rd. Investors of record on Monday, August 3rd will be given a dividend of 0.28 per share by the financial services provider on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, August 3rd.

Citizens & Northern has increased its dividend by an average of 0.0%per year over the last three years. Citizens & Northern has a payout ratio of 56.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Citizens & Northern to earn $2.70 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 41.5%.

Citizens & Northern Trading Up 4.7%

NASDAQ:CZNC traded up $1.09 during mid-day trading on Friday, reaching $24.35. 81,452 shares of the company’s stock traded hands, compared to its average volume of 51,650. The company has a 50 day moving average price of $22.12 and a 200-day moving average price of $22.29. The firm has a market capitalization of $436.35 million, a price-to-earnings ratio of 22.34 and a beta of 0.41. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.91 and a quick ratio of 0.91. Citizens & Northern has a 12-month low of $18.16 and a 12-month high of $25.00.

Citizens & Northern (NASDAQ:CZNC) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.56). The business had revenue of $36.90 million during the quarter, compared to analysts’ expectations of $35.60 million. Citizens & Northern had a return on equity of 7.47% and a net margin of 9.67%. On average, sell-side analysts predict that Citizens & Northern will post 1.97 earnings per share for the current year.

Institutional Investors Weigh In On Citizens & Northern

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Citizens & Northern by 2.3% in the third quarter. Vanguard Group Inc. now owns 823,059 shares of the financial services provider’s stock worth $16,305,000 after purchasing an additional 18,165 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Citizens & Northern by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 620,287 shares of the financial services provider’s stock valued at $13,857,000 after buying an additional 16,030 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Citizens & Northern by 13.8% in the 4th quarter. Geode Capital Management LLC now owns 416,153 shares of the financial services provider’s stock worth $8,396,000 after buying an additional 50,343 shares during the period. Citizens & Northern Corp increased its stake in shares of Citizens & Northern by 12.6% in the 4th quarter. Citizens & Northern Corp now owns 361,412 shares of the financial services provider’s stock worth $7,290,000 after acquiring an additional 40,323 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Citizens & Northern by 1.5% in the 4th quarter. State Street Corp now owns 322,819 shares of the financial services provider’s stock worth $6,511,000 after acquiring an additional 4,806 shares in the last quarter. 30.83% of the stock is owned by hedge funds and other institutional investors.

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.