Citizens & Northern (NASDAQ:CZNC) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Citizens & Northern (NASDAQ:CZNC) from a buy rating to a hold rating in a report published on Friday morning.

Separately, Piper Sandler upgraded Citizens & Northern to a “hold” rating in a research report on Monday, December 2nd.

Citizens & Northern Stock Up 2.9 %

Shares of NASDAQ CZNC opened at $21.35 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $20.05 and a 200 day moving average price of $19.78. Citizens & Northern has a 52 week low of $16.50 and a 52 week high of $22.68. The stock has a market capitalization of $329.09 million, a price-to-earnings ratio of 12.63 and a beta of 0.49.

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

Citizens & Northern Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $0.28 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 5.25%. This is a boost from Citizens & Northern’s previous quarterly dividend of $0.27. Citizens & Northern’s payout ratio is presently 66.27%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its position in Citizens & Northern by 270.6% during the fourth quarter. Millennium Management LLC now owns 40,704 shares of the financial services provider’s stock worth $757,000 after buying an additional 29,722 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Citizens & Northern by 117.5% in the 4th quarter. JPMorgan Chase & Co. now owns 52,275 shares of the financial services provider’s stock worth $972,000 after buying an additional 28,243 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Citizens & Northern in the 4th quarter worth about $429,000. Marshall Wace LLP purchased a new stake in Citizens & Northern in the 4th quarter valued at about $382,000. Finally, Barclays PLC increased its stake in shares of Citizens & Northern by 290.1% during the 3rd quarter. Barclays PLC now owns 19,388 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 14,418 shares during the last quarter. 30.83% of the stock is owned by hedge funds and other institutional investors.

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.