Citizens & Northern (NASDAQ:CZNC) Stock Passes Above 200 Day Moving Average – What’s Next?

Citizens & Northern Corp (NASDAQ:CZNC)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.29 and traded as high as $23.27. Citizens & Northern shares last traded at $23.26, with a volume of 59,695 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen cut Citizens & Northern from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded Citizens & Northern from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Finally, Zacks Research upgraded Citizens & Northern from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.50.

Citizens & Northern Price Performance

The stock’s fifty day moving average price is $22.21 and its 200-day moving average price is $22.30. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $436.28 million, a price-to-earnings ratio of 22.34 and a beta of 0.41.

Citizens & Northern (NASDAQ:CZNC) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.56). Citizens & Northern had a net margin of 9.67% and a return on equity of 7.47%. The firm had revenue of $36.90 million during the quarter, compared to analysts’ expectations of $35.60 million. Equities research analysts predict that Citizens & Northern Corp will post 1.97 EPS for the current fiscal year.

Citizens & Northern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a $0.28 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.6%. Citizens & Northern’s dividend payout ratio is presently 102.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its position in 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 valued at $34,000 after buying an additional 1,433 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in Citizens & Northern by 71.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 749 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Citizens & Northern during the 2nd quarter valued at about $58,000. Tower Research Capital LLC TRC increased its holdings in shares of Citizens & Northern by 596.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 2,939 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Citizens & Northern by 62.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 1,391 shares during the period. Hedge funds and other 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.