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 note issued to investors on Monday,Zacks.com reports.

Citizens & Northern Stock Performance

CZNC opened at $20.51 on Monday. The business has a fifty day simple moving average of $19.66 and a 200 day simple moving average of $18.96. The company has a market capitalization of $316.06 million, a PE ratio of 14.24 and a beta of 0.47. Citizens & Northern has a 1 year low of $16.50 and a 1 year high of $23.50. 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 (NASDAQ:CZNC) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.04). The company had revenue of $27.49 million during the quarter, compared to analyst estimates of $28.10 million. Citizens & Northern had a net margin of 14.47% and a return on equity of 8.28%. Research analysts expect that Citizens & Northern will post 1.6 EPS for the current year.

Hedge Funds Weigh In On Citizens & Northern

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Citizens & Northern during the 3rd quarter worth $37,000. SG Americas Securities LLC acquired a new position in shares of Citizens & Northern during the 3rd quarter worth $102,000. J.W. Cole Advisors Inc. acquired a new position in shares of Citizens & Northern during the 2nd quarter worth $187,000. Barclays PLC raised its holdings 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 buying an additional 14,418 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings 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 buying an additional 4,173 shares in the last quarter. 30.83% of the stock is owned by institutional investors and hedge funds.

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.