Citizens Community Bancorp (NASDAQ:CZWI) Downgraded by Hovde Group to Market Perform

Citizens Community Bancorp (NASDAQ:CZWI) was downgraded by equities researchers at Hovde Group from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, MarketBeat reports. They presently have a $24.00 price target on the bank’s stock. Hovde Group’s price objective would suggest a potential upside of 4.21% from the stock’s current price.

A number of other research firms have also recently weighed in on CZWI. Weiss Ratings cut Citizens Community Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, June 30th. Zacks Research upgraded Citizens Community Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $24.00.

Citizens Community Bancorp Stock Up 2.4%

Shares of CZWI stock opened at $23.03 on Friday. The stock has a market cap of $222.01 million, a P/E ratio of 15.05 and a beta of 0.50. Citizens Community Bancorp has a fifty-two week low of $14.40 and a fifty-two week high of $24.42. The business has a fifty day simple moving average of $21.44 and a 200-day simple moving average of $19.75.

Citizens Community Bancorp (NASDAQ:CZWI) last announced its quarterly earnings results on Monday, April 27th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $16.11 million for the quarter, compared to the consensus estimate of $15.70 million. Citizens Community Bancorp had a net margin of 15.02% and a return on equity of 8.00%. On average, sell-side analysts anticipate that Citizens Community Bancorp will post 1.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James D. Moll sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $21.00, for a total transaction of $63,000.00. Following the sale, the director owned 35,463 shares in the company, valued at $744,723. This trade represents a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders acquired 3,350 shares of company stock valued at $69,815. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CZWI. Wellington Management Group LLP grew its holdings in Citizens Community Bancorp by 123.3% in the fourth quarter. Wellington Management Group LLP now owns 691,414 shares of the bank’s stock valued at $12,321,000 after purchasing an additional 381,805 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Citizens Community Bancorp by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 559,094 shares of the bank’s stock valued at $8,985,000 after purchasing an additional 3,320 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Citizens Community Bancorp by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 346,741 shares of the bank’s stock valued at $6,865,000 after buying an additional 10,515 shares during the period. Geode Capital Management LLC grew its stake in shares of Citizens Community Bancorp by 116.2% during the 2nd quarter. Geode Capital Management LLC now owns 214,308 shares of the bank’s stock valued at $2,958,000 after buying an additional 115,171 shares during the period. Finally, UBS Group AG increased its holdings in shares of Citizens Community Bancorp by 123.9% during the 4th quarter. UBS Group AG now owns 169,805 shares of the bank’s stock worth $3,026,000 after buying an additional 93,952 shares during the last quarter. 55.11% of the stock is currently owned by hedge funds and other institutional investors.

About Citizens Community Bancorp

Citizens Community Bancorp, Inc is a bank holding company headquartered in Columbia Station, Ohio. Its primary subsidiary, Citizens Community Savings Bank, offers a range of community banking services to individuals and businesses. The company operates through a network of branch offices in Lorain and Medina counties and surrounding communities, providing personalized financial solutions with a focus on local relationships and customer service.

The bank’s deposit products include checking and savings accounts, money market accounts and certificates of deposit, while its lending portfolio features residential mortgage loans, home equity lines of credit, commercial real estate loans, and small-business financing.