State Street Corp Grows Stock Position in Citizens & Northern Co. (NASDAQ:CZNC)

State Street Corp increased its position in shares of Citizens & Northern Co. (NASDAQ:CZNC) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 308,868 shares of the financial services provider’s stock after purchasing an additional 3,297 shares during the period. State Street Corp owned approximately 2.00% of Citizens & Northern worth $6,082,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CZNC. SG Americas Securities LLC acquired a new position in Citizens & Northern in the 3rd quarter valued at about $102,000. J.W. Cole Advisors Inc. acquired a new stake in Citizens & Northern in the second quarter valued at approximately $187,000. Bank of New York Mellon Corp lifted its stake in shares of Citizens & Northern by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 98,808 shares of the financial services provider’s stock worth $1,768,000 after acquiring an additional 4,173 shares in the last quarter. Finally, Stone House Investment Management LLC grew its position in shares of Citizens & Northern by 11.0% during the third quarter. Stone House Investment Management LLC now owns 95,255 shares of the financial services provider’s stock worth $1,876,000 after buying an additional 9,470 shares in the last quarter. Institutional investors and hedge funds own 30.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Citizens & Northern Price Performance

Shares of CZNC opened at $18.53 on Friday. The stock’s fifty day moving average is $19.74 and its 200-day moving average is $19.22. The firm has a market capitalization of $285.62 million, a price-to-earnings ratio of 12.87 and a beta of 0.47. Citizens & Northern Co. has a one year low of $16.50 and a one year high of $22.93. 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 (NASDAQ:CZNC) last released its earnings results on Thursday, October 17th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The business had revenue of $27.49 million during the quarter, compared to analysts’ expectations of $28.10 million. Citizens & Northern had a net margin of 14.47% and a return on equity of 8.28%. Equities analysts anticipate that Citizens & Northern Co. will post 1.61 EPS for the current year.

Citizens & Northern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were paid 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 6.04%. Citizens & Northern’s payout ratio is 77.78%.

About Citizens & Northern

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.