Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Citizens & Northern Co. (NASDAQ:CZNC)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Citizens & Northern Co. (NASDAQ:CZNC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,085 shares of the financial services provider’s stock, valued at approximately $429,000. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of Citizens & Northern at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Citizens & Northern by 186.3% during the third quarter. JPMorgan Chase & Co. now owns 24,032 shares of the financial services provider’s stock valued at $473,000 after purchasing an additional 15,637 shares during the period. State Street Corp increased its position in shares of Citizens & Northern by 1.1% during the third quarter. State Street Corp now owns 308,868 shares of the financial services provider’s stock worth $6,082,000 after acquiring an additional 3,297 shares in the last quarter. Geode Capital Management LLC grew its position in Citizens & Northern by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 345,823 shares of the financial services provider’s stock worth $6,811,000 after purchasing an additional 4,243 shares in the last quarter. Barclays PLC grew its position in 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 in the last quarter. Finally, SG Americas Securities LLC grew its position in Citizens & Northern by 22.3% in the 4th quarter. SG Americas Securities LLC now owns 6,327 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 1,153 shares in the last quarter. Institutional investors and hedge funds own 30.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Citizens & Northern Stock Performance

Shares of CZNC stock opened at $20.41 on Friday. The stock has a market capitalization of $315.66 million, a P/E ratio of 12.08 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 firm’s 50 day moving average is $20.62 and its 200 day moving average is $19.87. Citizens & Northern Co. has a 12 month low of $16.50 and a 12 month high of $22.68.

Citizens & Northern (NASDAQ:CZNC) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that Citizens & Northern Co. will post 1.91 earnings per share for the current year.

Citizens & Northern Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $0.28 dividend. This is a positive change from Citizens & Northern’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.49%. Citizens & Northern’s dividend payout ratio is presently 66.27%.

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.