Citizens & Northern (NASDAQ:CZNC) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Citizens & Northern (NASDAQ:CZNC) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01), FiscalAI reports. Citizens & Northern had a return on equity of 9.75% and a net margin of 16.81%.The firm had revenue of $36.87 million during the quarter, compared to the consensus estimate of $35.40 million.

Citizens & Northern Stock Performance

Shares of CZNC traded down $0.27 during trading hours on Wednesday, hitting $21.39. The stock had a trading volume of 42,930 shares, compared to its average volume of 45,094. The firm has a market capitalization of $380.78 million, a PE ratio of 12.15 and a beta of 0.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.93. Citizens & Northern has a 12 month low of $18.02 and a 12 month high of $22.68. The stock has a fifty day moving average price of $20.74 and a 200 day moving average price of $19.97.

Citizens & Northern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Monday, February 2nd. Citizens & Northern’s dividend payout ratio (DPR) is 63.64%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CZNC shares. Weiss Ratings raised shares of Citizens & Northern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 15th. Piper Sandler boosted their price target on Citizens & Northern from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Finally, Janney Montgomery Scott raised Citizens & Northern to a “hold” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Institutional Investors Weigh In On Citizens & Northern

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Citizens & Northern by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,504 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 892 shares during the period. Bridgeway Capital Management LLC raised its holdings in Citizens & Northern by 4.7% during the second quarter. Bridgeway Capital Management LLC now owns 28,498 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 1,277 shares during the period. BNP Paribas Financial Markets raised its holdings in 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 valued at $71,000 after acquiring an additional 1,391 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Citizens & Northern by 521.1% in the third quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,433 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Citizens & Northern by 7.5% in the second quarter. Rhumbline Advisers now owns 22,685 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 1,592 shares during the period. 30.83% of the stock is currently owned by institutional investors.

About Citizens & Northern

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.