Citizens & Northern (NASDAQ:CZNC) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Citizens & Northern (NASDAQ:CZNC - Free Report) from a buy rating to a hold rating in a research report released on Wednesday.

Separately, Piper Sandler raised Citizens & Northern to a "hold" rating in a research report on Monday, December 2nd.

Citizens & Northern Stock Performance

Citizens & Northern stock traded down $0.40 during mid-day trading on Wednesday, reaching $20.85. 28,594 shares of the company were exchanged, compared to its average volume of 45,004. Citizens & Northern has a twelve month low of $16.50 and a twelve month high of $22.68. The firm's 50-day simple moving average is $19.86 and its two-hundred day simple moving average is $19.69. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $321.30 million, a PE ratio of 12.34 and a beta of 0.49.

Citizens & Northern (NASDAQ:CZNC - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.08. Citizens & Northern had a return on equity of 9.71% and a net margin of 16.50%. Equities analysts predict that Citizens & Northern will post 1.91 earnings per share for the current fiscal year.

Citizens & Northern Increases Dividend

The firm 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 boost from Citizens & Northern's previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Monday, February 3rd. Citizens & Northern's dividend payout ratio (DPR) is currently 66.27%.

Institutional Trading of Citizens & Northern

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of Citizens & Northern by 186.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,032 shares of the financial services provider's stock valued at $473,000 after buying an additional 15,637 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Citizens & Northern in the 3rd quarter valued at approximately $102,000. State Street Corp increased its stake in Citizens & Northern by 1.1% in the 3rd quarter. State Street Corp now owns 308,868 shares of the financial services provider's stock valued at $6,082,000 after purchasing an additional 3,297 shares in the last quarter. Geode Capital Management LLC increased its stake 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 valued at $6,811,000 after purchasing an additional 4,243 shares in the last quarter. Finally, Barclays PLC increased its stake in Citizens & Northern by 290.1% in the 3rd quarter. Barclays PLC now owns 19,388 shares of the financial services provider's stock valued at $381,000 after purchasing an additional 14,418 shares in the last quarter. 30.83% of the stock is owned by institutional investors and hedge funds.

About Citizens & Northern

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.