Citizens & Northern (NASDAQ:CZNC) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

by · The Cerbat Gem

Citizens & Northern Corp (NASDAQ:CZNC – Get Free Report)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.99 and traded as high as $23.48. Citizens & Northern shares last traded at $23.37, with a volume of 99,444 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently commented on CZNC. Zacks Research cut Citizens & Northern from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Weiss Ratings cut Citizens & Northern from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen downgraded shares of Citizens & Northern from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $23.50.

Read Our Latest Stock Analysis on CZNC

Citizens & Northern Price Performance

The business’s fifty day moving average price is $21.79 and its 200-day moving average price is $22.03. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $430.80 million, a P/E ratio of 22.06 and a beta of 0.42.

Citizens & Northern (NASDAQ:CZNC – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.56). The firm had revenue of $36.90 million for the quarter, compared to analysts’ expectations of $35.60 million. Citizens & Northern had a net margin of 9.67% and a return on equity of 7.47%. As a group, sell-side analysts predict that Citizens & Northern Corp will post 1.97 earnings per share for the current fiscal year.

Citizens & Northern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued a $0.28 dividend. The ex-dividend date was Monday, May 4th. This represents a $1.12 annualized dividend and a dividend yield of 4.7%. Citizens & Northern’s payout ratio is currently 102.75%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in Citizens & Northern by 521.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,708 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,433 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Citizens & Northern by 71.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,798 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 749 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Citizens & Northern during the second quarter worth about $58,000. Tower Research Capital LLC TRC grew its stake in shares of Citizens & Northern by 596.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,432 shares of the financial services provider’s stock worth $65,000 after buying an additional 2,939 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Citizens & Northern by 62.9% in the third quarter. BNP Paribas Financial Markets now owns 3,604 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 1,391 shares during the last quarter. 30.83% of the stock is owned by hedge funds and other institutional investors.

Citizens & Northern Company Profile

(Get Free Report)

Citizens & Northern Corporation is the bank holding company for Citizens & Northern Bank, a community-oriented financial institution headquartered in Wellsboro, Pennsylvania. Chartered in 1888, the company has cultivated deep roots in north central Pennsylvania and selected counties in upstate New York, offering a broad spectrum of banking services tailored to individuals, families and local businesses.

Through its flagship banking subsidiary, Citizens & Northern provides personal deposit products such as checking and savings accounts, certificates of deposit and money market accounts.

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