Citizens & Northern Corp (NASDAQ:CZNC) to Issue $0.28 Quarterly Dividend

Citizens & Northern Corp (NASDAQ:CZNC) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Monday, August 3rd will be paid a dividend of 0.28 per share by the financial services provider on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, August 3rd.

Citizens & Northern has raised its dividend by an average of 0.0%annually over the last three years. Citizens & Northern has a dividend payout ratio of 56.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Citizens & Northern to earn $2.70 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 41.5%.

Citizens & Northern Stock Performance

Shares of NASDAQ CZNC traded up $1.09 during mid-day trading on Friday, hitting $24.35. The company had a trading volume of 81,452 shares, compared to its average volume of 51,650. Citizens & Northern has a 12 month low of $18.16 and a 12 month high of $25.00. The firm has a market cap of $436.35 million, a P/E ratio of 22.34 and a beta of 0.41. The business’s 50-day simple moving average is $22.12 and its 200-day simple moving average is $22.29. 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 issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share (EPS) 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 the consensus estimate of $35.60 million. Citizens & Northern had a net margin of 9.67% and a return on equity of 7.47%. As a group, analysts predict that Citizens & Northern will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Citizens & Northern

A number of hedge funds have recently modified their holdings of the stock. Legato Capital Management LLC bought a new stake in Citizens & Northern in the fourth quarter valued at $647,000. Citizens & Northern Corp lifted its holdings in shares of Citizens & Northern by 12.6% during the fourth quarter. Citizens & Northern Corp now owns 361,412 shares of the financial services provider’s stock valued at $7,290,000 after acquiring an additional 40,323 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Citizens & Northern by 8.9% during the fourth quarter. Osaic Holdings Inc. now owns 11,436 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 933 shares during the period. Deutsche Bank AG boosted its stake in shares of Citizens & Northern by 53.2% in the 4th quarter. Deutsche Bank AG now owns 9,797 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 3,404 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Citizens & Northern by 18.9% in the 4th quarter. MetLife Investment Management LLC now owns 9,156 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 1,457 shares in the last quarter. 30.83% of the stock is owned by institutional investors and hedge funds.

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.