Citizens & Northern (NASDAQ:CZNC) Shares Pass Above 200 Day Moving Average – Here’s Why

Citizens & Northern Corp (NASDAQ:CZNC)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.29 and traded as high as $23.27. Citizens & Northern shares last traded at $23.26, with a volume of 59,695 shares trading hands.

Analyst Upgrades and Downgrades

CZNC has been the topic of a number of research analyst reports. Zacks Research upgraded Citizens & Northern from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings downgraded Citizens & Northern from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen downgraded Citizens & Northern from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $23.50.

Citizens & Northern Price Performance

The business’s fifty day moving average price is $22.12 and its 200-day moving average price is $22.29. The company has a market capitalization of $416.82 million, a P/E ratio of 21.34 and a beta of 0.41. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.53.

Citizens & Northern (NASDAQ:CZNC) last released its earnings results on Wednesday, April 29th. The financial services provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.56). Citizens & Northern had a net margin of 9.67% and a return on equity of 7.47%. The firm had revenue of $36.90 million during the quarter, compared to the consensus estimate of $35.60 million. As a group, sell-side analysts predict that Citizens & Northern Corp will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Citizens & Northern

Several institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of 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 during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Citizens & Northern by 71.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider’s stock worth $36,000 after buying an additional 749 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Citizens & Northern in the 2nd quarter worth approximately $58,000. Tower Research Capital LLC TRC boosted its stake in Citizens & Northern by 596.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider’s stock worth $65,000 after buying an additional 2,939 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in 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 in the last quarter. 30.83% of the stock is currently owned by 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.