Citizens & Northern Co. (NASDAQ:CZNC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Citizens & Northern Co. (NASDAQ:CZNC) by 31.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 59,603 shares of the financial services provider’s stock after selling 27,197 shares during the quarter. Bank of New York Mellon Corp’s holdings in Citizens & Northern were worth $1,109,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Citizens & Northern in the 3rd quarter worth approximately $37,000. SG Americas Securities LLC grew its holdings in shares of Citizens & Northern by 22.3% in the 4th quarter. SG Americas Securities LLC now owns 6,327 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 1,153 shares during the last quarter. Barclays PLC raised 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 period. JPMorgan Chase & Co. lifted its holdings in shares of Citizens & Northern by 186.3% during the third quarter. JPMorgan Chase & Co. now owns 24,032 shares of the financial services provider’s stock valued at $473,000 after purchasing an additional 15,637 shares during the last quarter. Finally, Hudock Inc. boosted its position in shares of Citizens & Northern by 42.2% in the 4th quarter. Hudock Inc. now owns 46,235 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 13,712 shares during the period. Institutional investors own 30.83% of the company’s stock.

Citizens & Northern Stock Performance

Shares of NASDAQ CZNC opened at $20.73 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.95 and a quick ratio of 0.95. Citizens & Northern Co. has a one year low of $16.50 and a one year high of $22.68. The business’s 50-day moving average price is $20.67 and its two-hundred day moving average price is $19.88. The company has a market capitalization of $320.61 million, a P/E ratio of 12.27 and a beta of 0.44.

Citizens & Northern (NASDAQ:CZNC) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.08. Citizens & Northern had a return on equity of 9.71% and a net margin of 16.50%. Analysts anticipate that Citizens & Northern Co. will post 1.91 earnings per share for the current fiscal year.

Citizens & Northern Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $0.28 per share. This is an increase from Citizens & Northern’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, February 3rd. This represents a $1.12 annualized dividend and a yield of 5.40%. Citizens & Northern’s dividend payout ratio is presently 66.27%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CZNC. Piper Sandler upgraded shares of Citizens & Northern to a “hold” rating in a research report on Monday, December 2nd. StockNews.com lowered Citizens & Northern from a “buy” rating to a “hold” rating in a research report on Friday, February 28th.

About Citizens & Northern

Citizens & Northern Corp. is a holding company, which engages in community banking. It provides a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. The firm’s lending products include mortgage loans, commercial loans, and consumer loans.