Citizens Financial Services (NASDAQ:CZFS) Announces Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Citizens Financial Services (NASDAQ:CZFS) announced its quarterly earnings data on Thursday. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.14, Zacks reports. Citizens Financial Services had a return on equity of 11.89% and a net margin of 22.47%.

Citizens Financial Services Stock Performance

NASDAQ:CZFS traded up $0.43 during midday trading on Thursday, reaching $77.69. 26,546 shares of the company traded hands, compared to its average volume of 10,844. The firm has a market capitalization of $372.91 million, a price-to-earnings ratio of 9.49 and a beta of 0.36. The company has a fifty day moving average price of $69.63 and a 200 day moving average price of $65.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.95 and a quick ratio of 0.95. Citizens Financial Services has a twelve month low of $49.99 and a twelve month high of $79.50.

Citizens Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.51 per share. The ex-dividend date was Friday, June 12th. This represents a $2.04 dividend on an annualized basis and a yield of 2.6%. This is an increase from Citizens Financial Services’s previous quarterly dividend of $0.50. Citizens Financial Services’s payout ratio is presently 24.91%.

Institutional Investors Weigh In On Citizens Financial Services

A number of hedge funds have recently added to or reduced their stakes in CZFS. Millennium Management LLC grew its position in shares of Citizens Financial Services by 118.4% during the fourth quarter. Millennium Management LLC now owns 13,206 shares of the company’s stock worth $753,000 after acquiring an additional 7,158 shares during the last quarter. Trexquant Investment LP lifted its position in Citizens Financial Services by 71.7% in the 4th quarter. Trexquant Investment LP now owns 10,614 shares of the company’s stock valued at $605,000 after purchasing an additional 4,432 shares during the last quarter. Royal Bank of Canada boosted its stake in Citizens Financial Services by 93.5% during the 4th quarter. Royal Bank of Canada now owns 447 shares of the company’s stock valued at $25,000 after purchasing an additional 216 shares during the period. Barclays PLC grew its position in Citizens Financial Services by 16.0% in the 4th quarter. Barclays PLC now owns 8,375 shares of the company’s stock worth $478,000 after purchasing an additional 1,155 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Citizens Financial Services in the 4th quarter worth about $422,000. 22.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded Citizens Financial Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Weiss Ratings upgraded Citizens Financial Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, Citizens Financial Services currently has an average rating of “Strong Buy”.

Citizens Financial Services Company Profile

Citizens Financial Services, Inc (NASDAQ:CZFS) is a bank holding company headquartered in Elderton, Pennsylvania, providing a range of retail and commercial banking services through its primary subsidiary, Citizens Savings Bank. The company offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit, supported by online and mobile banking platforms tailored to personal and business clients.

Beyond deposit-taking, Citizens Financial Services underwrites a variety of lending products, including residential mortgage loans, home equity financing, commercial real estate loans, construction lending and consumer installment loans.