Citizens & Northern (NASDAQ:CZNC) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of Citizens & Northern (NASDAQ:CZNC) from a strong-buy rating to a buy rating in a report issued on Sunday,Wall Street Zen reports.

CZNC has been the subject of several other research reports. Weiss Ratings upgraded shares of Citizens & Northern from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Zacks Research upgraded Citizens & Northern from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.50.

Citizens & Northern Stock Performance

NASDAQ CZNC opened at $25.97 on Friday. The company has a fifty day moving average of $24.90 and a two-hundred day moving average of $23.13. The company has a market capitalization of $465.64 million, a PE ratio of 17.55 and a beta of 0.40. Citizens & Northern has a 1 year low of $18.87 and a 1 year high of $26.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.91 and a quick ratio of 0.91.

Citizens & Northern (NASDAQ:CZNC) last posted its earnings results on Friday, August 7th. The financial services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.16. Citizens & Northern had a return on equity of 9.54% and a net margin of 13.28%.The business had revenue of $39.65 million for the quarter, compared to analysts’ expectations of $38.60 million. As a group, analysts expect that Citizens & Northern will post 2.17 earnings per share for the current year.

Citizens & Northern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, August 3rd. Citizens & Northern’s payout ratio is currently 75.68%.

Institutional Trading of Citizens & Northern

Several hedge funds have recently made changes to their positions in CZNC. Renaissance Technologies LLC raised its stake in shares of Citizens & Northern by 1.1% during the 1st quarter. Renaissance Technologies LLC now owns 53,441 shares of the financial services provider’s stock worth $1,194,000 after buying an additional 586 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Citizens & Northern by 2.8% in the 4th quarter. Jane Street Group LLC now owns 25,127 shares of the financial services provider’s stock valued at $507,000 after buying an additional 673 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of Citizens & Northern by 71.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider’s stock valued at $36,000 after buying an additional 749 shares in the last quarter. Barclays PLC boosted its stake in shares of Citizens & Northern by 3.0% in the fourth quarter. Barclays PLC now owns 26,947 shares of the financial services provider’s stock valued at $544,000 after buying an additional 774 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Citizens & Northern by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 14,504 shares of the financial services provider’s stock valued at $287,000 after buying an additional 892 shares in the last quarter. 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.