Citizens & Northern Co. (NASDAQ:CZNC) Short Interest Down 14.3% in February

Citizens & Northern Co. (NASDAQ:CZNC) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 58,000 shares, a decrease of 14.3% from the February 13th total of 67,700 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 37,000 shares, the days-to-cover ratio is currently 1.6 days.

Citizens & Northern Trading Down 0.8 %

Shares of CZNC opened at $20.63 on Friday. Citizens & Northern has a twelve month low of $16.50 and a twelve month high of $22.68. The company has a market cap of $319.06 million, a P/E ratio of 12.21 and a beta of 0.44. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $20.58 and its 200-day simple moving average is $19.86.

Citizens & Northern (NASDAQ:CZNC) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.08. Citizens & Northern had a net margin of 16.50% and a return on equity of 9.71%. As a group, analysts expect that Citizens & Northern will post 1.91 EPS for the current year.

Citizens & Northern Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $0.28 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.12 annualized dividend and a dividend yield of 5.43%. This is an increase from Citizens & Northern’s previous quarterly dividend of $0.27. Citizens & Northern’s dividend payout ratio is currently 66.27%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CZNC shares. StockNews.com downgraded shares of Citizens & Northern from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Piper Sandler raised shares of Citizens & Northern to a “hold” rating in a research note on Monday, December 2nd.

Institutional Investors Weigh In On Citizens & Northern

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC grew its holdings in shares of Citizens & Northern by 270.6% in the fourth quarter. Millennium Management LLC now owns 40,704 shares of the financial services provider’s stock worth $757,000 after purchasing an additional 29,722 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Citizens & Northern by 117.5% in the fourth quarter. JPMorgan Chase & Co. now owns 52,275 shares of the financial services provider’s stock worth $972,000 after purchasing an additional 28,243 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Citizens & Northern in the fourth quarter worth about $429,000. Marshall Wace LLP bought a new position in shares of Citizens & Northern in the fourth quarter worth about $382,000. Finally, Barclays PLC grew its holdings in shares of Citizens & Northern by 290.1% in the third 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 last quarter. Hedge funds and other institutional investors own 30.83% of the company’s stock.

Citizens & Northern Company Profile

Citizens & Northern Corp. is a holding company, which engages in community banking. It provides a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. The firm’s lending products include mortgage loans, commercial loans, and consumer loans.