Zacks Research Upgrades Citizens & Northern (NASDAQ:CZNC) to “Strong-Buy”

Citizens & Northern (NASDAQ:CZNC) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

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

Citizens & Northern Stock Up 1.9%

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Citizens & Northern in the second quarter valued at approximately $58,000. Rhumbline Advisers increased its position in Citizens & Northern by 7.5% during 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. Jane Street Group LLC acquired a new position in Citizens & Northern during the 1st quarter valued at $324,000. Empowered Funds LLC acquired a new position in Citizens & Northern during the 1st quarter valued at $236,000. Finally, Innova Wealth Partners bought a new stake in Citizens & Northern in the 4th quarter valued at $203,000. 30.83% of the stock is owned by institutional investors.

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.