Legato Capital Management LLC Makes New Investment in Citizens & Northern Corp $CZNC

Legato Capital Management LLC purchased a new position in shares of Citizens & Northern Corp (NASDAQ:CZNC) during the 4th quarter, Holdings Channel reports. The fund purchased 32,096 shares of the financial services provider’s stock, valued at approximately $647,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in Citizens & Northern by 521.1% during the 3rd 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 in the last quarter. Raymond James Financial Inc. bought a new stake in Citizens & Northern during the 2nd quarter worth about $58,000. Tower Research Capital LLC TRC lifted 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 buying an additional 2,939 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Citizens & Northern by 62.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider’s stock worth $71,000 after buying an additional 1,391 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in Citizens & Northern during the 3rd quarter worth about $116,000. 30.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CZNC shares. Wall Street Zen lowered shares of Citizens & Northern from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Piper Sandler boosted their price objective on shares of Citizens & Northern from $22.50 to $23.50 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Zacks Research lowered shares of Citizens & Northern from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. Finally, Weiss Ratings lowered shares of Citizens & Northern from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $23.50.

Citizens & Northern Stock Up 0.2%

Citizens & Northern stock opened at $21.12 on Wednesday. The firm has a market capitalization of $378.47 million, a PE ratio of 19.38 and a beta of 0.44. The company’s 50-day moving average is $22.21 and its 200-day moving average is $21.67. Citizens & Northern Corp has a fifty-two week low of $18.02 and a fifty-two week high of $24.11. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.91 and a quick ratio of 0.91.

Citizens & Northern (NASDAQ:CZNC) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.56). The firm had revenue of $36.90 million for the quarter, compared to analyst estimates of $35.60 million. Citizens & Northern had a return on equity of 7.47% and a net margin of 9.67%. Sell-side analysts anticipate that Citizens & Northern Corp will post 1.97 earnings per share for the current year.

Citizens & Northern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.12 annualized dividend and a dividend yield of 5.3%. Citizens & Northern’s payout ratio is presently 102.75%.

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.