Millennium Management LLC Increases Position in Citizens & Northern Co. (NASDAQ:CZNC)

Millennium Management LLC increased its stake in Citizens & Northern Co. (NASDAQ:CZNC) by 270.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,704 shares of the financial services provider’s stock after acquiring an additional 29,722 shares during the period. Millennium Management LLC owned about 0.26% of Citizens & Northern worth $757,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its position in Citizens & Northern by 28.7% during the fourth quarter. BNP Paribas Financial Markets now owns 4,117 shares of the financial services provider’s stock valued at $77,000 after buying an additional 918 shares during the period. Wilmington Savings Fund Society FSB boosted its position in Citizens & Northern by 179.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 5,318 shares of the financial services provider’s stock valued at $99,000 after buying an additional 3,418 shares during the period. SG Americas Securities LLC boosted its position in Citizens & Northern by 22.3% during the fourth quarter. SG Americas Securities LLC now owns 6,327 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,153 shares during the period. Wells Fargo & Company MN boosted its position in Citizens & Northern by 24.6% during the fourth quarter. Wells Fargo & Company MN now owns 9,634 shares of the financial services provider’s stock valued at $179,000 after buying an additional 1,900 shares during the period. Finally, MetLife Investment Management LLC boosted its position in Citizens & Northern by 33.1% during the fourth quarter. MetLife Investment Management LLC now owns 10,101 shares of the financial services provider’s stock valued at $188,000 after buying an additional 2,512 shares during the period. 30.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Citizens & Northern news, Director Terry L. Lehman acquired 1,400 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were acquired at an average price of $18.70 per share, for a total transaction of $26,180.00. Following the completion of the acquisition, the director now owns 28,237 shares in the company, valued at $528,031.90. This trade represents a 5.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 1,978 shares of company stock valued at $36,867 over the last three months. Corporate insiders own 4.49% of the company’s stock.

Citizens & Northern Stock Performance

Shares of NASDAQ:CZNC opened at $18.57 on Friday. The company has a market cap of $287.74 million, a price-to-earnings ratio of 10.99 and a beta of 0.50. The company has a 50-day moving average price of $19.00 and a 200-day moving average price of $19.74. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. Citizens & Northern Co. has a 12 month low of $16.50 and a 12 month high of $22.68.

Citizens & Northern (NASDAQ:CZNC) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.03). The firm had revenue of $27.19 million for the quarter, compared to the consensus estimate of $28.30 million. Citizens & Northern had a net margin of 16.50% and a return on equity of 9.71%. As a group, equities analysts anticipate that Citizens & Northern Co. will post 1.91 EPS for the current year.

Citizens & Northern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Sunday, May 4th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 6.03%. The ex-dividend date of this dividend was Friday, May 2nd. Citizens & Northern’s dividend payout ratio (DPR) is 64.00%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Citizens & Northern from a “buy” rating to a “hold” rating in a research note on Friday, February 28th.

Citizens & Northern Company Profile

Citizens & Northern Corp. is a holding company, which engages in community banking. It provides a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. The firm’s lending products include mortgage loans, commercial loans, and consumer loans.