Citizens & Northern Corp Purchases 21,443 Shares of Citizens & Northern Co. (NASDAQ:CZNC)

Citizens & Northern Corp increased its position in Citizens & Northern Co. (NASDAQ:CZNC) by 7.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 329,394 shares of the financial services provider’s stock after purchasing an additional 21,443 shares during the period. Citizens & Northern makes up 1.8% of Citizens & Northern Corp’s investment portfolio, making the stock its 13th largest holding. Citizens & Northern Corp owned about 2.14% of Citizens & Northern worth $5,893,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CZNC. New York State Common Retirement Fund lifted its holdings in shares of Citizens & Northern by 40.1% in the 4th quarter. New York State Common Retirement Fund now owns 5,603 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,605 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Citizens & Northern by 82.6% during the 1st quarter. BNP Paribas Financial Markets now owns 7,605 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 3,440 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Citizens & Northern by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 98,808 shares of the financial services provider’s stock valued at $1,768,000 after acquiring an additional 4,173 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Citizens & Northern by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 742,332 shares of the financial services provider’s stock valued at $13,941,000 after acquiring an additional 13,488 shares in the last quarter. 30.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded Citizens & Northern from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th.

Citizens & Northern Price Performance

Shares of NASDAQ:CZNC opened at $20.14 on Friday. The stock has a market cap of $309.95 million, a PE ratio of 13.25 and a beta of 0.47. Citizens & Northern Co. has a 1-year low of $16.50 and a 1-year high of $23.50. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.86. The stock’s fifty day simple moving average is $18.95 and its two-hundred day simple moving average is $18.21.

Citizens & Northern (NASDAQ:CZNC) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $27.50 million for the quarter, compared to analysts’ expectations of $26.90 million. Citizens & Northern had a return on equity of 9.06% and a net margin of 15.75%. As a group, analysts forecast that Citizens & Northern Co. will post 1.66 EPS for the current fiscal year.

Citizens & Northern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Monday, July 29th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date was Monday, July 29th. Citizens & Northern’s payout ratio is 73.68%.

Citizens & Northern Company Profile

Citizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides various banking and related services to individual and corporate customers. Its deposit products include various types of checking accounts, passbook and statement savings, money market accounts, interest checking accounts, and individual retirement accounts, as well as certificates of deposit; and lending products, including commercial, mortgage, and consumer loans, as well as specialized instruments, such as commercial letters-of-credit.