Citizens & Northern (NASDAQ:CZNC) Downgraded by BidaskClub

BidaskClub lowered shares of Citizens & Northern (NASDAQ:CZNC) from a hold rating to a sell rating in a research note published on Tuesday morning, BidAskClub reports.

CZNC stock opened at $26.12 on Tuesday. The firm has a market capitalization of $321.09 million, a PE ratio of 15.15 and a beta of 0.38. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.16. Citizens & Northern has a 12 month low of $23.60 and a 12 month high of $29.25.

Citizens & Northern (NASDAQ:CZNC) last released its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.41 EPS for the quarter. The business had revenue of $16.12 million for the quarter. Citizens & Northern had a net margin of 32.30% and a return on equity of 10.84%.

In other Citizens & Northern news, Director Leonard Simpson sold 1,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $27.33, for a total transaction of $27,330.00. Following the transaction, the director now directly owns 37,034 shares of the company’s stock, valued at $1,012,139.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have acquired 1,208 shares of company stock worth $32,740. Insiders own 3.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CZNC. BNP Paribas Arbitrage SA lifted its holdings in Citizens & Northern by 542.7% during the first quarter. BNP Paribas Arbitrage SA now owns 2,481 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 2,095 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Citizens & Northern by 560.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,677 shares of the financial services provider’s stock valued at $124,000 after buying an additional 3,969 shares during the last quarter. Emerald Advisers LLC acquired a new stake in shares of Citizens & Northern in the first quarter valued at about $216,000. Acadian Asset Management LLC raised its position in shares of Citizens & Northern by 6.4% in the fourth quarter. Acadian Asset Management LLC now owns 10,013 shares of the financial services provider’s stock valued at $265,000 after buying an additional 600 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Citizens & Northern by 23.2% in the fourth quarter. Bank of America Corp DE now owns 13,011 shares of the financial services provider’s stock valued at $344,000 after buying an additional 2,448 shares during the last quarter. 28.69% of the stock is currently owned by institutional investors and hedge funds.

Citizens & Northern Company Profile

Citizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides a range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York. The company offers deposit products, including various types of checking accounts, passbook and statement savings accounts, money market accounts, interest checking accounts, individual retirement accounts, and certificates of deposits, as well as non-insured RepoSweep accounts.

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