Citizens & Northern (NASDAQ:CZNC) Raised to Hold at Zacks Research

Citizens & Northern (NASDAQ:CZNC) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other research analysts have also issued reports about the company. Weiss Ratings lowered Citizens & Northern from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen downgraded Citizens & Northern from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.50.

Citizens & Northern Price Performance

Citizens & Northern stock opened at $23.24 on Monday. 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 50-day moving average price of $21.82 and a 200 day moving average price of $22.07. Citizens & Northern has a 12-month low of $18.16 and a 12-month high of $24.25. The stock has a market cap of $416.46 million, a P/E ratio of 21.32 and a beta of 0.41.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.56). The firm had revenue of $36.90 million during 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%. Sell-side analysts anticipate that Citizens & Northern will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Empowered Funds LLC purchased a new stake in Citizens & Northern during the 1st quarter worth approximately $236,000. Jane Street Group LLC acquired a new position in shares of Citizens & Northern in the first quarter worth $324,000. Rhumbline Advisers increased its position in shares of Citizens & Northern by 7.5% during the second quarter. Rhumbline Advisers now owns 22,685 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 1,592 shares during the period. Marshall Wace LLP raised its stake in shares of Citizens & Northern by 105.3% in the second quarter. Marshall Wace LLP now owns 57,870 shares of the financial services provider’s stock valued at $1,096,000 after acquiring an additional 29,687 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Citizens & Northern in the second quarter valued at $58,000. Institutional investors and hedge funds own 30.83% of the company’s stock.

Citizens & Northern Company Profile

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.