Citizens & Northern (NASDAQ:CZNC) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Citizens & Northern Corp (NASDAQ:CZNC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.02 and traded as high as $22.71. Citizens & Northern shares last traded at $22.64, with a volume of 31,147 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CZNC. Zacks Research cut shares of Citizens & Northern from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Piper Sandler lifted their target price on shares of Citizens & Northern from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Finally, Weiss Ratings raised shares of Citizens & Northern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 15th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.50.

Citizens & Northern Stock Up 1.0%

The business’s fifty day simple moving average is $22.63 and its 200 day simple moving average is $21.02. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a market cap of $405.48 million, a price-to-earnings ratio of 15.30 and a beta of 0.50.

Citizens & Northern (NASDAQ:CZNC) last announced its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter. Citizens & Northern had a net margin of 13.75% and a return on equity of 9.79%. The company had revenue of $64.78 million during the quarter. Equities analysts forecast that Citizens & Northern Corp will post 1.91 earnings per share for the current fiscal year.

Citizens & Northern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a $0.28 dividend. 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 payout ratio is 75.68%.

Hedge Funds Weigh In On Citizens & Northern

Several institutional investors and hedge funds have recently made changes to their positions in CZNC. Empowered Funds LLC acquired a new position in shares of Citizens & Northern in the 1st quarter valued at $236,000. Jane Street Group LLC acquired a new position in shares of Citizens & Northern in the 1st quarter valued at $324,000. Rhumbline Advisers boosted its stake in Citizens & Northern by 7.5% in the 2nd quarter. Rhumbline Advisers now owns 22,685 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 1,592 shares during the period. Marshall Wace LLP boosted its stake in Citizens & Northern by 105.3% in the 2nd quarter. Marshall Wace LLP now owns 57,870 shares of the financial services provider’s stock worth $1,096,000 after purchasing an additional 29,687 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Citizens & Northern in the 2nd quarter worth $58,000. Institutional investors and hedge funds 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.