Zacks Investment Research Lowers Citizens & Northern (NASDAQ: CZNC) To Hold

Citizens and the North (NASDAQ: CZNC) has been downgraded from Zacks investment research from a “buy” note to a “keep” note in a research report published on Monday, Zacks.com reports.

According to Zacks, “Citizens & Northern Corporation is a single bank holding company with its principal subsidiary being Citizens & Northern Bank. The company’s main office is located in Wellsboro, PA. The company’s other wholly owned subsidiaries are Citizens & Northern Investment Corporation and Bucktail Life Insurance Company. Citizens & Northern Investment Corporation was formed in 1999 to engage in investment activities. Bucktail provides credit insurance, accident insurance and health insurance on behalf of the Bank. “

NASDAQ: CZNC traded down $ 0.03 at midday Monday, reaching $ 26.10. 18,505 shares of the title were traded, for an average volume of 29,621. The company has a 50-day moving average of $ 26.08. The company has a market cap of $ 411.10 million, a PE ratio of 13.81 and a beta of 0.41. The company has a leverage ratio of 0.29, a current ratio of 0.90, and a quick ratio of 0.90. Citizens & Northern has a one-year low at $ 18.98 and a one-year high at $ 27.99.

Citizens & Northern (NASDAQ: CZNC) last released its quarterly results on Monday, November 8. The financial services provider reported earnings per share (EPS) of $ 0.47 for the quarter, beating analyst consensus estimates of $ 0.46 by $ 0.01. Citizens & Northern reported a return on equity of 10.42% and a net margin of 26.97%. The company posted revenue of $ 25.84 million for the quarter, compared to the consensus estimate of $ 25.64 million. Sell-side analysts expect Citizens & Northern to post EPS of 1.95 for the current fiscal year.

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In other Citizens & Northern news, director Susan E. Hartley bought 2,000 shares of Citizens & Northern in a transaction dated Monday, December 6. The stock was acquired at an average cost of $ 25.41 per share, for a total value of $ 50,820.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have purchased a total of 2,557 shares of the company valued at $ 65,627 in the past three months. Insiders own 3.86% of the company’s shares.

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. BlackRock Inc. increased its stake in Citizens & Northern by 0.3% in the 2nd quarter. BlackRock Inc. now owns 1,111,778 shares of the financial services provider valued at $ 27,238,000 after purchasing an additional 3,353 shares last quarter. Vanguard Group Inc. increased its stake in Citizens & Northern by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 706,942 shares of the financial services provider valued at $ 17,319,000 after purchasing an additional 27,510 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Citizens & Northern by 3.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 401,705 shares of the financial services provider valued at $ 10,147,000 after purchasing an additional 12,165 shares in the last quarter. Citizens & Northern Corp increased its stake in Citizens & Northern by 0.4% in the 3rd quarter. Citizens & Northern Corp now owns 275,504 shares of the financial services provider valued at $ 6,959,000 after purchasing an additional 1,180 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Citizens & Northern by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 260,330 shares of the financial services provider valued at $ 6,575,000 after purchasing an additional 3,950 shares in the last quarter. 28.85% of the shares are held by hedge funds and other institutional investors.

Northern Citizens and Company Profile

Citizens & Northern Corp. operates as a holding company, which engages in community banking services. It provides a full range of banking and mortgage services to individuals and businesses in north central Pennsylvania and southern New York. The Company’s loan products include mortgages, commercial loans and consumer loans, as well as specialized instruments such as commercial letters of credit.

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