Citizens & Northern Co. (NASDAQ:CZNC) Raises Dividend to $0.28 Per Share

Citizens & Northern Co. (NASDAQ:CZNC) declared a quarterly dividend on Thursday, January 23rd,investing.com reports. Shareholders of record on Monday, February 3rd will be given a dividend of 0.28 per share by the financial services provider on Friday, February 14th. This represents a $1.12 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date is Monday, February 3rd. This is a boost from Citizens & Northern’s previous quarterly dividend of $0.27.

Citizens & Northern has increased its dividend by an average of 0.3% per year over the last three years. Citizens & Northern has a payout ratio of 55.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Citizens & Northern to earn $2.02 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 55.4%.

Citizens & Northern Trading Down 0.4 %

CZNC opened at $21.33 on Friday. The firm has a 50 day simple moving average of $19.53 and a 200 day simple moving average of $19.54. Citizens & Northern has a fifty-two week low of $16.50 and a fifty-two week high of $22.68. The company has a market cap of $328.70 million, a price-to-earnings ratio of 12.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.95 and a quick ratio of 0.95.

Citizens & Northern (NASDAQ:CZNC) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.45 by $0.08. Citizens & Northern had a net margin of 16.50% and a return on equity of 9.71%. On average, sell-side analysts anticipate that Citizens & Northern will post 1.91 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com upgraded Citizens & Northern from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Piper Sandler raised shares of Citizens & Northern to a “hold” rating in a research note on Monday, December 2nd.

Citizens & Northern Company Profile

Citizens & Northern Corp. is a holding company, which engages in community banking. It provides a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. The firm’s lending products include mortgage loans, commercial loans, and consumer loans.