Short Interest in Citizens & Northern Co. (NASDAQ:CZNC) Declines By 10.2%

by · The Cerbat Gem

Citizens & Northern Co. (NASDAQ:CZNC – Get Free Report) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totalling 57,300 shares, a decrease of 10.2% from the September 30th total of 63,800 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 20,800 shares, the days-to-cover ratio is currently 2.8 days.

Hedge Funds Weigh In On Citizens & Northern

Several hedge funds and other institutional investors have recently modified their holdings of the company. Citizens & Northern Corp increased its holdings in Citizens & Northern by 7.0% in the 2nd quarter. Citizens & Northern Corp now owns 329,394 shares of the financial services provider’s stock valued at $5,893,000 after purchasing an additional 21,443 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Citizens & Northern by 1.9% in the first quarter. Vanguard Group Inc. now owns 742,332 shares of the financial services provider’s stock valued at $13,941,000 after buying an additional 13,488 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Citizens & Northern during the 2nd quarter valued at about $187,000. SG Americas Securities LLC acquired a new position in Citizens & Northern during the 3rd quarter worth approximately $102,000. Finally, Bank of New York Mellon Corp grew its position in 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 valued at $1,768,000 after acquiring an additional 4,173 shares in the last quarter. 30.83% of the stock is owned by institutional investors and hedge funds.

Citizens & Northern Price Performance

Citizens & Northern stock traded up $0.03 during mid-day trading on Thursday, hitting $19.11. 2,544 shares of the company were exchanged, compared to its average volume of 24,130. The company has a market capitalization of $294.14 million, a P/E ratio of 13.25 and a beta of 0.45. The business’s 50 day simple moving average is $19.41 and its two-hundred day simple moving average is $18.55. Citizens & Northern has a 12-month low of $16.50 and a 12-month high of $23.50. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.94.

Citizens & Northern (NASDAQ:CZNC – Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The business had revenue of $27.49 million for the quarter, compared to analysts’ expectations of $28.10 million. Citizens & Northern had a return on equity of 9.06% and a net margin of 15.75%. Analysts forecast that Citizens & Northern will post 1.66 earnings per share for the current fiscal year.

Citizens & Northern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, October 28th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 5.86%. The ex-dividend date of this dividend is Monday, October 28th. Citizens & Northern’s dividend payout ratio (DPR) is currently 77.78%.

About Citizens & Northern

(Get Free Report)

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.

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