Citizens & Northern (NASDAQ:CZNC) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Citizens & Northern (NASDAQ:CZNC) to a hold rating in a report published on Monday morning,Zacks.com reports.

Citizens & Northern Stock Up 0.4 %

CZNC opened at $20.60 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.95. Citizens & Northern has a fifty-two week low of $16.50 and a fifty-two week high of $23.50. The firm’s fifty day moving average is $19.68 and its 200 day moving average is $18.97. The stock has a market cap of $317.45 million, a price-to-earnings ratio of 14.31 and a beta of 0.47.

Citizens & Northern (NASDAQ:CZNC) last released its earnings results on Thursday, October 17th. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Citizens & Northern had a net margin of 14.47% and a return on equity of 8.28%. The firm had revenue of $27.49 million for the quarter, compared to analysts’ expectations of $28.10 million. On average, sell-side analysts forecast that Citizens & Northern will post 1.6 earnings per share for the current fiscal year.

Citizens & Northern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $1.12 annualized dividend and a yield of 5.44%. Citizens & Northern’s payout ratio is 77.78%.

Hedge Funds Weigh In On Citizens & Northern

Hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Citizens & Northern in the 3rd quarter worth approximately $37,000. SG Americas Securities LLC purchased a new stake in shares of Citizens & Northern in the 3rd quarter worth approximately $102,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Citizens & Northern in the 2nd quarter worth approximately $187,000. Barclays PLC lifted its position in shares of Citizens & Northern by 290.1% in the 3rd 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. Finally, Bank of New York Mellon Corp lifted its position in shares of Citizens & Northern by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 98,808 shares of the financial services provider’s stock worth $1,768,000 after purchasing an additional 4,173 shares during the period. 30.83% of the stock is currently owned by institutional investors.

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.