Citizens & Northern (NASDAQ:CZNC) Lowered to Hold Rating by Zacks Research

Zacks Research downgraded shares of Citizens & Northern (NASDAQ:CZNC) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

Several other research analysts have also issued reports on CZNC. Piper Sandler increased their price target 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. Weiss Ratings raised shares of Citizens & Northern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 15th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.50.

Citizens & Northern Trading Down 2.2%

NASDAQ CZNC opened at $21.42 on Monday. Citizens & Northern has a 1-year low of $18.02 and a 1-year high of $24.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average of $22.40 and a 200-day moving average of $20.82. The firm has a market cap of $383.63 million, a PE ratio of 14.47 and a beta of 0.54.

Citizens & Northern (NASDAQ:CZNC) last announced its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter. Citizens & Northern had a net margin of 13.75% and a return on equity of 9.79%. The business had revenue of $64.78 million for the quarter. As a group, sell-side analysts forecast that Citizens & Northern will post 1.91 EPS for the current year.

Citizens & Northern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a dividend of $0.28 per share. The ex-dividend date was Monday, February 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.2%. Citizens & Northern’s dividend payout ratio (DPR) is presently 75.68%.

Institutional Investors Weigh In On Citizens & Northern

A number of hedge funds have recently made changes to their positions in the company. Invesco Ltd. boosted its stake in Citizens & Northern by 34.7% during the fourth quarter. Invesco Ltd. now owns 15,192 shares of the financial services provider’s stock valued at $306,000 after buying an additional 3,916 shares during the last quarter. Empowered Funds LLC increased its stake in Citizens & Northern by 10.8% in the 4th quarter. Empowered Funds LLC now owns 16,433 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 1,605 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in Citizens & Northern by 5.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 31,933 shares of the financial services provider’s stock worth $644,000 after acquiring an additional 1,605 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Citizens & Northern by 16.9% during the 4th quarter. AQR Capital Management LLC now owns 48,147 shares of the financial services provider’s stock worth $971,000 after acquiring an additional 6,970 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of Citizens & Northern by 8.9% during the 4th quarter. Osaic Holdings Inc. now owns 11,436 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 933 shares in the last quarter. 30.83% of the stock is currently owned by hedge funds and other institutional investors.

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.