Citizens Financial Services Inc. (NASDAQ:CZFS) Increases Dividend to $0.51 Per Share

Citizens Financial Services Inc. (NASDAQ:CZFS) declared a quarterly dividend on Tuesday, June 2nd. Shareholders of record on Friday, June 12th will be given a dividend of 0.51 per share on Friday, June 26th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, June 12th. This is a 2.0% increase from Citizens Financial Services’s previous quarterly dividend of $0.50.

Citizens Financial Services has raised its dividend payment by an average of 0.0%annually over the last three years. Citizens Financial Services has a payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Citizens Financial Services to earn $8.31 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 24.1%.

Citizens Financial Services Price Performance

NASDAQ CZFS opened at $67.51 on Wednesday. The stock has a market capitalization of $324.05 million, a P/E ratio of 8.24 and a beta of 0.38. Citizens Financial Services has a 1 year low of $49.99 and a 1 year high of $69.58. The business’s fifty day moving average is $64.99 and its two-hundred day moving average is $62.18. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.95 and a current ratio of 0.95.

Citizens Financial Services (NASDAQ:CZFS) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.18. The business had revenue of $29.80 million during the quarter, compared to analyst estimates of $29.10 million. Citizens Financial Services had a return on equity of 11.89% and a net margin of 22.47%. On average, research analysts forecast that Citizens Financial Services will post 8.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Citizens Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC acquired a new stake in Citizens Financial Services during the 4th quarter valued at $923,000. Lawood & Co. purchased a new position in shares of Citizens Financial Services during the fourth quarter valued at $612,000. Marshall Wace LLP acquired a new position in Citizens Financial Services during the fourth quarter valued at $422,000. Bailard Inc. acquired a new position in Citizens Financial Services during the fourth quarter valued at $413,000. Finally, Millennium Management LLC lifted its stake in Citizens Financial Services by 118.4% in the 4th quarter. Millennium Management LLC now owns 13,206 shares of the company’s stock worth $753,000 after acquiring an additional 7,158 shares in the last quarter. 22.49% of the stock is currently owned by hedge funds and other institutional investors.

About Citizens Financial Services

Citizens Financial Services, Inc (NASDAQ:CZFS) is a bank holding company headquartered in Elderton, Pennsylvania, providing a range of retail and commercial banking services through its primary subsidiary, Citizens Savings Bank. The company offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit, supported by online and mobile banking platforms tailored to personal and business clients.

Beyond deposit-taking, Citizens Financial Services underwrites a variety of lending products, including residential mortgage loans, home equity financing, commercial real estate loans, construction lending and consumer installment loans.