Lazard Asset Management LLC Purchases Shares of 836 Citizens Financial Services, Inc. (NASDAQ:CZFS)

Lazard Asset Management LLC purchased a new position in Citizens Financial Services, Inc. (NASDAQ:CZFS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 836 shares of the company’s stock, valued at approximately $52,000.

Several other institutional investors and hedge funds have also made changes to their positions in CZFS. JPMorgan Chase & Co. raised its stake in Citizens Financial Services by 177.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,272 shares of the company’s stock worth $427,000 after acquiring an additional 4,655 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Citizens Financial Services in the fourth quarter worth about $121,000. Stonebridge Financial Group LLC purchased a new position in shares of Citizens Financial Services in the fourth quarter worth about $46,000. Citizens & Northern Corp lifted its holdings in shares of Citizens Financial Services by 29.9% during the fourth quarter. Citizens & Northern Corp now owns 115,922 shares of the company’s stock worth $7,339,000 after purchasing an additional 26,693 shares during the period. Finally, Bryn Mawr Capital Management LLC lifted its holdings in shares of Citizens Financial Services by 1,665.4% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 115,048 shares of the company’s stock worth $7,284,000 after purchasing an additional 108,531 shares during the period. 22.49% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Services Price Performance

Shares of NASDAQ:CZFS opened at $59.05 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.78. Citizens Financial Services, Inc. has a twelve month low of $39.10 and a twelve month high of $75.40. The company’s 50 day moving average is $57.44 and its 200 day moving average is $61.70. The company has a market cap of $281.08 million, a PE ratio of 10.06 and a beta of 0.40.

Citizens Financial Services (NASDAQ:CZFS) last issued its earnings results on Wednesday, April 30th. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.11. Citizens Financial Services had a net margin of 16.39% and a return on equity of 9.93%. The firm had revenue of $26.44 million during the quarter. On average, sell-side analysts forecast that Citizens Financial Services, Inc. will post 6.4 EPS for the current year.

Citizens Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 3.35%. The ex-dividend date was Friday, March 14th. This is a positive change from Citizens Financial Services’s previous quarterly dividend of $0.49. Citizens Financial Services’s dividend payout ratio is currently 33.11%.

Citizens Financial Services Profile

Citizens Financial Services, Inc, a bank holding company, provides various banking products and services for individual, business, governmental, and institutional customers. The company accepts various deposit products, such as checking, savings, and time deposit accounts. Its loan products include residential, commercial, and agricultural real estate loans; commercial and industrial loans; state and political subdivision loans; and consumer loans, as well as various other specialized financial services.