Citizens & Northern (NASDAQ:CZNC) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Citizens & Northern (NASDAQ:CZNC) from a hold rating to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

A number of other research firms also recently commented on CZNC. Janney Montgomery Scott raised shares of Citizens & Northern to a “hold” rating in a report on Wednesday, October 22nd. Weiss Ratings raised shares of Citizens & Northern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 15th. Finally, Piper Sandler boosted their price objective on shares of Citizens & Northern from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Citizens & Northern Stock Performance

Shares of Citizens & Northern stock opened at $22.76 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 0.93. Citizens & Northern has a 1 year low of $18.02 and a 1 year high of $22.86. The firm’s 50-day simple moving average is $20.91 and its 200-day simple moving average is $20.02. The firm has a market cap of $405.17 million, a PE ratio of 12.93 and a beta of 0.56.

Citizens & Northern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Monday, February 2nd. Citizens & Northern’s payout ratio is presently 63.64%.

Institutional Investors Weigh In On Citizens & Northern

Hedge funds have recently made changes to their positions in the business. 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 buying an additional 1,433 shares during the period. Raymond James Financial Inc. bought a new stake in Citizens & Northern during the 2nd quarter valued at $58,000. Tower Research Capital LLC TRC boosted its position in Citizens & Northern by 596.1% during the 2nd 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. CWM LLC boosted its position in Citizens & Northern by 210.2% during the 3rd quarter. CWM LLC now owns 3,574 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 2,422 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Citizens & Northern by 62.9% in the third 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 in the last quarter. Institutional investors own 30.83% of the company’s stock.

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.