PNC Financial Services Group Inc. Trims Stake in Citizens & Northern Co. (NASDAQ:CZNC)

PNC Financial Services Group Inc. lessened its holdings in Citizens & Northern Co. (NASDAQ:CZNC) by 8.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,864 shares of the financial services provider’s stock after selling 7,633 shares during the period. PNC Financial Services Group Inc.’s holdings in Citizens & Northern were worth $1,573,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CZNC. SG Americas Securities LLC bought a new position in Citizens & Northern in the 3rd quarter worth about $102,000. J.W. Cole Advisors Inc. purchased a new position in shares of Citizens & Northern during the second quarter worth about $187,000. Bank of New York Mellon Corp increased its position in shares of Citizens & Northern by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 98,808 shares of the financial services provider’s stock worth $1,768,000 after purchasing an additional 4,173 shares during the last quarter. Citizens & Northern Corp raised its stake in Citizens & Northern by 7.0% in the second quarter. Citizens & Northern Corp now owns 329,394 shares of the financial services provider’s stock valued at $5,893,000 after purchasing an additional 21,443 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Citizens & Northern by 1.9% during the first quarter. Vanguard Group Inc. now owns 742,332 shares of the financial services provider’s stock valued at $13,941,000 after purchasing an additional 13,488 shares during the last quarter. Institutional investors own 30.83% of the company’s stock.

Citizens & Northern Price Performance

CZNC stock opened at $20.41 on Wednesday. The firm has a 50 day simple moving average of $19.60 and a two-hundred day simple moving average of $18.88. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $314.52 million, a PE ratio of 14.17 and a beta of 0.46. Citizens & Northern Co. has a one year low of $16.50 and a one year high of $23.50.

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

Citizens & Northern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, October 28th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 5.49%. The ex-dividend date was Monday, October 28th. Citizens & Northern’s dividend payout ratio is currently 77.78%.

Citizens & Northern Company Profile

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.