Geode Capital Management LLC Boosts Stake in Citizens & Northern Co. (NASDAQ:CZNC)

Geode Capital Management LLC raised its holdings in shares of Citizens & Northern Co. (NASDAQ:CZNC) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 345,823 shares of the financial services provider’s stock after buying an additional 4,243 shares during the period. Geode Capital Management LLC’s holdings in Citizens & Northern were worth $6,811,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CZNC. SG Americas Securities LLC bought a new stake in shares of Citizens & Northern during the 3rd quarter worth approximately $102,000. J.W. Cole Advisors Inc. purchased a new stake in Citizens & Northern in the second quarter worth $187,000. Barclays PLC lifted its position in shares of Citizens & Northern by 290.1% during the third quarter. Barclays PLC now owns 19,388 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 14,418 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Citizens & Northern by 4.4% during the second quarter. Bank of New York Mellon Corp now owns 98,808 shares of the financial services provider’s stock valued at $1,768,000 after purchasing an additional 4,173 shares during the period. Finally, Stone House Investment Management LLC grew its holdings in shares of Citizens & Northern by 11.0% in the third quarter. Stone House Investment Management LLC now owns 95,255 shares of the financial services provider’s stock worth $1,876,000 after purchasing an additional 9,470 shares during the last quarter. Institutional investors own 30.83% of the company’s stock.

Citizens & Northern Stock Performance

Citizens & Northern stock opened at $18.44 on Friday. Citizens & Northern Co. has a fifty-two week low of $16.50 and a fifty-two week high of $22.49. The company has a market capitalization of $284.23 million, a PE ratio of 12.81 and a beta of 0.47. The company has a 50 day moving average price of $19.67 and a 200-day moving average price of $19.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.95.

Citizens & Northern (NASDAQ:CZNC) last issued its 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 the consensus estimate of $28.10 million. As a group, equities analysts forecast that Citizens & Northern Co. will post 1.61 earnings per share for the current year.

Citizens & Northern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date was Monday, October 28th. Citizens & Northern’s dividend payout ratio (DPR) is presently 77.78%.

Wall Street Analyst Weigh In

Separately, Piper Sandler upgraded shares of Citizens & Northern to a “hold” rating in a report on Monday, December 2nd.

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.