Citizens & Northern (NASDAQ:CZNC) Upgraded by Piper Sandler to “Hold” Rating

Citizens & Northern (NASDAQ:CZNC) was upgraded by analysts at Piper Sandler to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Citizens & Northern Price Performance

Shares of CZNC opened at $20.51 on Monday. 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 has a 1 year low of $16.50 and a 1 year high of $23.50. The stock has a market cap of $316.06 million, a P/E ratio of 14.24 and a beta of 0.47. The stock’s 50-day moving average price is $19.66 and its two-hundred day moving average price is $18.96.

Citizens & Northern (NASDAQ:CZNC) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The business had revenue of $27.49 million for the quarter, compared to analyst estimates of $28.10 million. Citizens & Northern had a return on equity of 8.28% and a net margin of 14.47%. On average, equities analysts predict that Citizens & Northern will post 1.6 earnings per share for the current year.

Institutional Investors Weigh In On Citizens & Northern

A number of hedge funds and other institutional investors have recently bought and sold shares of CZNC. Wilmington Savings Fund Society FSB bought a new position in Citizens & Northern in the third quarter valued at approximately $37,000. SG Americas Securities LLC bought a new position in Citizens & Northern in the third quarter valued at approximately $102,000. J.W. Cole Advisors Inc. bought a new position in shares of Citizens & Northern during the 2nd quarter worth approximately $187,000. Barclays PLC boosted its stake in shares of Citizens & Northern by 290.1% during the 3rd quarter. Barclays PLC now owns 19,388 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 14,418 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Citizens & Northern by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 98,808 shares of the financial services provider’s stock worth $1,768,000 after acquiring an additional 4,173 shares during the period. Institutional investors and hedge funds own 30.83% of the company’s stock.

About Citizens & Northern

Citizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides various banking and related services to individual and corporate customers. Its deposit products include various types of checking accounts, passbook and statement savings, money market accounts, interest checking accounts, and individual retirement accounts, as well as certificates of deposit; and lending products, including commercial, mortgage, and consumer loans, as well as specialized instruments, such as commercial letters-of-credit.