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

Citizens & Northern Corp (NASDAQ:CZNC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.99 and traded as high as $23.48. Citizens & Northern shares last traded at $23.37, with a volume of 99,444 shares traded.

Analyst Ratings Changes

Several research analysts have issued reports on CZNC shares. Wall Street Zen lowered Citizens & Northern from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Zacks Research downgraded Citizens & Northern from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Finally, Weiss Ratings lowered Citizens & Northern from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $23.50.

Citizens & Northern Price Performance

The stock’s 50 day moving average price is $21.79 and its 200-day moving average price is $21.99. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $418.72 million, a PE ratio of 21.44 and a beta of 0.42.

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

Citizens & Northern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, May 4th. Citizens & Northern’s dividend payout ratio is currently 102.75%.

Hedge Funds Weigh In On Citizens & Northern

Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in shares of Citizens & Northern by 521.1% during the third quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,433 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Citizens & Northern by 71.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 749 shares in the last quarter. Raymond James Financial Inc. bought a new position in Citizens & Northern in the second quarter worth approximately $58,000. Tower Research Capital LLC TRC increased its holdings in Citizens & Northern by 596.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 2,939 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Citizens & Northern by 62.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 1,391 shares during the period. 30.83% of the stock is 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.