Citizens & Northern (NASDAQ:CZNC) Shares Pass Above 200 Day Moving Average – Here’s Why

Citizens & Northern Corp (NASDAQ:CZNC)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.56 and traded as high as $23.07. Citizens & Northern shares last traded at $23.07, with a volume of 42,731 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CZNC. Zacks Research upgraded shares of Citizens & Northern from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Weiss Ratings raised shares of Citizens & Northern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 15th. Finally, Piper Sandler raised their price target on Citizens & Northern from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Citizens & Northern presently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Citizens & Northern Price Performance

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. The stock has a market cap of $410.65 million, a P/E ratio of 15.59 and a beta of 0.55. The company’s fifty day simple moving average is $21.87 and its 200-day simple moving average is $20.56.

Citizens & Northern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.12 annualized dividend and a dividend yield of 4.9%. Citizens & Northern’s dividend payout ratio (DPR) is presently 75.68%.

Institutional Investors Weigh In On Citizens & Northern

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in shares of Citizens & Northern by 34.7% in the fourth quarter. Invesco Ltd. now owns 15,192 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 3,916 shares during the last quarter. Empowered Funds LLC lifted its holdings in Citizens & Northern by 10.8% during the 4th quarter. Empowered Funds LLC now owns 16,433 shares of the financial services provider’s stock worth $331,000 after buying an additional 1,605 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in Citizens & Northern by 5.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 31,933 shares of the financial services provider’s stock worth $644,000 after buying an additional 1,605 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Citizens & Northern by 16.9% in the 4th quarter. AQR Capital Management LLC now owns 48,147 shares of the financial services provider’s stock valued at $971,000 after buying an additional 6,970 shares during the period. Finally, Osaic Holdings Inc. raised its position in shares of Citizens & Northern by 8.9% during the fourth quarter. Osaic Holdings Inc. now owns 11,436 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 933 shares during the last quarter. Institutional investors 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.