Citizens & Northern Co. Plans Quarterly Dividend of $0.28 (NASDAQ:CZNC)

Citizens & Northern Co. (NASDAQ:CZNC) declared a quarterly dividend on Thursday, July 18th, Zacks reports. Stockholders of record on Monday, July 29th will be given a dividend of 0.28 per share by the financial services provider on Friday, August 9th. This represents a $1.12 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Monday, July 29th.

Citizens & Northern has increased its dividend by an average of 1.2% per year over the last three years. Citizens & Northern has a payout ratio of 62.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Citizens & Northern to earn $1.80 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 62.2%.

Citizens & Northern Stock Performance

NASDAQ CZNC opened at $19.48 on Friday. The firm has a market capitalization of $299.60 million, a P/E ratio of 12.82 and a beta of 0.47. Citizens & Northern has a 1-year low of $16.50 and a 1-year high of $23.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.92 and a quick ratio of 0.92. The business’s 50-day simple moving average is $17.63 and its 200-day simple moving average is $18.41.

Citizens & Northern (NASDAQ:CZNC) last released its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $25.72 million for the quarter, compared to analyst estimates of $26.74 million. Citizens & Northern had a return on equity of 9.17% and a net margin of 16.20%. Equities analysts predict that Citizens & Northern will post 1.62 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Citizens & Northern news, Director Terry L. Lehman bought 1,500 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were bought at an average cost of $17.00 per share, with a total value of $25,500.00. Following the transaction, the director now directly owns 25,567 shares in the company, valued at approximately $434,639. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have purchased 2,229 shares of company stock valued at $38,118. Corporate insiders own 3.74% of the company’s stock.

About Citizens & Northern

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.