Citizens & Northern Corp (CZNC) to Issue Quarterly Dividend of $0.28 on February 13th

Citizens & Northern Corp (NASDAQ:CZNC) declared a quarterly dividend on Thursday, January 22nd. Investors of record on Monday, February 2nd will be paid a dividend of 0.28 per share by the financial services provider on Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Monday, February 2nd.

Citizens & Northern has decreased its dividend by an average of 0.0%annually over the last three years. Citizens & Northern has a dividend payout ratio of 56.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Citizens & Northern to earn $2.02 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 55.4%.

Citizens & Northern Stock Performance

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

Hedge Funds Weigh In On Citizens & Northern

A number of institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its stake 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 valued at $34,000 after purchasing an additional 1,433 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Citizens & Northern in the 2nd quarter valued at approximately $58,000. Tower Research Capital LLC TRC boosted its stake in shares of 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 valued at $65,000 after buying an additional 2,939 shares during the last quarter. CWM LLC grew its position in shares of Citizens & Northern by 210.2% during the third quarter. CWM LLC now owns 3,574 shares of the financial services provider’s stock worth $71,000 after buying an additional 2,422 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Citizens & Northern by 62.9% in the third 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 during the last quarter. Institutional investors and hedge funds 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.