Citizens & Northern (NASDAQ:CZNC) Issues Earnings Results, Beats Estimates By $0.16 EPS

Citizens & Northern (NASDAQ:CZNC) released its quarterly earnings data on Friday. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.16, Zacks reports. Citizens & Northern had a return on equity of 7.47% and a net margin of 9.67%.

Citizens & Northern Stock Performance

Shares of NASDAQ CZNC traded up $0.09 during midday trading on Friday, hitting $25.36. 53,784 shares of the stock traded hands, compared to its average volume of 52,659. The firm has a 50-day moving average of $22.96 and a two-hundred day moving average of $22.60. The firm has a market capitalization of $454.45 million, a P/E ratio of 23.27 and a beta of 0.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.91 and a current ratio of 0.91. Citizens & Northern has a one year low of $18.49 and a one year high of $25.84.

Citizens & Northern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 4.4%. Citizens & Northern’s payout ratio is currently 102.75%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in shares of Citizens & Northern by 521.1% in the 3rd 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 during the period. CANADA LIFE ASSURANCE Co raised its stake in Citizens & Northern by 71.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 749 shares during the period. Raymond James Financial Inc. purchased a new position in Citizens & Northern in the 2nd quarter worth approximately $58,000. Tower Research Capital LLC TRC lifted its holdings in Citizens & Northern by 596.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 2,939 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Citizens & Northern by 62.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 1,391 shares during the period. 30.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CZNC has been the subject of a number of research analyst reports. Zacks Research raised Citizens & Northern from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen raised Citizens & Northern from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings upgraded Citizens & Northern from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.50.

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.