Legato Capital Management LLC Invests $647,000 in Citizens & Northern Corp $CZNC

Legato Capital Management LLC purchased a new position in shares of Citizens & Northern Corp (NASDAQ:CZNC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 32,096 shares of the financial services provider’s stock, valued at approximately $647,000. Legato Capital Management LLC owned approximately 0.18% of Citizens & Northern as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of Citizens & Northern by 521.1% during the third quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,433 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Citizens & Northern during the second quarter worth $58,000. Tower Research Capital LLC TRC raised its holdings in shares of Citizens & Northern by 596.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 2,939 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Citizens & Northern by 62.9% during the third quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 1,391 shares during the period. Finally, Focus Partners Wealth acquired a new stake in shares of Citizens & Northern during the third quarter worth $116,000. 30.83% of the stock is owned by institutional investors.

Citizens & Northern Trading Up 0.2%

Shares of NASDAQ:CZNC opened at $21.12 on Wednesday. Citizens & Northern Corp has a 12 month low of $18.02 and a 12 month high of $24.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $22.21 and its 200 day simple moving average is $21.67. The firm has a market cap of $378.47 million, a price-to-earnings ratio of 19.38 and a beta of 0.44.

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

Citizens & Northern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.12 annualized dividend and a yield of 5.3%. Citizens & Northern’s payout ratio is 102.75%.

Analysts Set New Price Targets

CZNC has been the topic of a number of research analyst reports. Piper Sandler raised their price objective on shares of Citizens & Northern from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Weiss Ratings lowered shares of Citizens & Northern from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Citizens & Northern from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Zacks Research lowered shares of Citizens & Northern from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $23.50.

Citizens & Northern 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.