Citizens & Northern (NASDAQ:CZNC) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Citizens & Northern (NASDAQ:CZNC) from a buy rating to a hold rating in a report released on Wednesday morning.

Separately, Piper Sandler raised Citizens & Northern to a “hold” rating in a research note on Monday, December 2nd.

Citizens & Northern Stock Performance

Citizens & Northern stock opened at $21.57 on Wednesday. The stock has a 50-day simple moving average of $19.81 and a 200 day simple moving average of $19.65. The stock has a market capitalization of $332.36 million, a price-to-earnings ratio of 12.76 and a beta of 0.49. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.77. Citizens & Northern has a 12-month low of $16.50 and a 12-month high of $22.68.

Citizens & Northern (NASDAQ:CZNC) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.08. Citizens & Northern had a net margin of 16.50% and a return on equity of 9.71%. On average, research analysts anticipate that Citizens & Northern will post 1.91 earnings per share for the current fiscal year.

Citizens & Northern Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $0.28 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.19%. This is an increase from Citizens & Northern’s previous quarterly dividend of $0.27. Citizens & Northern’s dividend payout ratio is 66.27%.

Institutional Investors Weigh In On Citizens & Northern

A number of institutional investors have recently made changes to their positions in CZNC. Millennium Management LLC boosted its holdings in Citizens & Northern by 270.6% during the fourth quarter. Millennium Management LLC now owns 40,704 shares of the financial services provider’s stock worth $757,000 after buying an additional 29,722 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Citizens & Northern by 117.5% during the 4th quarter. JPMorgan Chase & Co. now owns 52,275 shares of the financial services provider’s stock worth $972,000 after acquiring an additional 28,243 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Citizens & Northern during the fourth quarter valued at approximately $429,000. Marshall Wace LLP bought a new stake in Citizens & Northern in the fourth quarter valued at approximately $382,000. Finally, Barclays PLC raised its holdings in Citizens & Northern by 290.1% in the third quarter. Barclays PLC now owns 19,388 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 14,418 shares during the period. 30.83% of the stock is owned by institutional investors and hedge funds.

Citizens & Northern Company Profile

Citizens & Northern Corp. is a holding company, which engages in community banking. It provides a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. The firm’s lending products include mortgage loans, commercial loans, and consumer loans.