Citizens & Northern (NASDAQ:CZNC) Hits New 52-Week High – Here’s What Happened

Citizens & Northern Corp (NASDAQ:CZNC)’s share price reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $28.53 and last traded at $28.47, with a volume of 61,813 shares. The stock had previously closed at $28.03.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CZNC shares. Wall Street Zen cut shares of Citizens & Northern from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 18th. Weiss Ratings raised shares of Citizens & Northern from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Citizens & Northern has an average rating of “Hold” and a consensus price target of $23.50.

Citizens & Northern Trading Up 2.2%

The stock’s fifty day moving average price is $26.02 and its 200 day moving average price is $23.66. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $511.81 million, a P/E ratio of 15.19 and a beta of 0.39.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.68 by $0.24. The company had revenue of $39.56 million for the quarter, compared to the consensus estimate of $42.28 million. Citizens & Northern had a net margin of 13.28% and a return on equity of 9.54%. Research analysts forecast that Citizens & Northern Corp will post 2.45 earnings per share for the current year.

Citizens & Northern Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.2%. This is a boost from Citizens & Northern’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, November 2nd. Citizens & Northern’s dividend payout ratio is 81.08%.

Institutional Trading of Citizens & Northern

A number of large investors have recently modified their holdings of the company. State of Alaska Department of Revenue increased its holdings in Citizens & Northern by 70.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 1,630 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 674 shares during the period. Hudock Inc. raised its position in Citizens & Northern by 1.6% during the 3rd quarter. Hudock Inc. now owns 51,592 shares of the financial services provider’s stock valued at $1,291,000 after purchasing an additional 790 shares in the last quarter. Empowered Funds LLC bought a new stake in Citizens & Northern during the 2nd quarter valued at $450,000. Bank of America Corp DE purchased a new stake in shares of Citizens & Northern in the 2nd quarter worth $367,000. Finally, Legal & General Group Plc purchased a new stake in shares of Citizens & Northern in the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 30.83% of the company’s stock.

Citizens & Northern Company Profile

Citizens & Northern Corporation is a bank holding company headquartered in Wellsboro, Pennsylvania. Through its principal subsidiary, Citizens & Northern Bank, the company provides community banking services to individuals, families, businesses and organizations.

The bank offers deposit accounts, consumer and commercial lending, residential mortgages, agricultural loans, cash-management services and online and mobile banking. It also provides wealth management, trust and investment services, as well as insurance and other financial solutions through affiliated businesses and service providers.

Founded in 1864, Citizens & Northern has a long history of serving communities in north-central Pennsylvania and nearby areas of southern New York.