Citizens & Northern Co. (NASDAQ:CZNC) Plans $0.28 Quarterly Dividend

Citizens & Northern Co. (NASDAQ:CZNC) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Monday, May 6th will be given a dividend of 0.28 per share by the financial services provider on Friday, May 17th. This represents a $1.12 annualized dividend and a dividend yield of 6.26%. The ex-dividend date is Friday, May 3rd.

Citizens & Northern has increased its dividend payment by an average of 1.2% annually over the last three years. Citizens & Northern has a dividend payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Citizens & Northern to earn $1.79 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 62.6%.

Citizens & Northern Price Performance

Shares of CZNC stock traded up $0.24 during mid-day trading on Friday, hitting $17.89. The company had a trading volume of 34,115 shares, compared to its average volume of 18,025. Citizens & Northern has a 52-week low of $16.71 and a 52-week high of $23.50. The stock’s 50 day moving average price is $18.00 and its 200-day moving average price is $19.39. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $275.15 million, a P/E ratio of 11.39 and a beta of 0.44.

Citizens & Northern (NASDAQ:CZNC) last announced its quarterly earnings results on Monday, March 11th. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.08). Citizens & Northern had a return on equity of 9.60% and a net margin of 17.51%. The business had revenue of $25.27 million during the quarter, compared to the consensus estimate of $26.39 million. Equities research analysts forecast that Citizens & Northern will post 1.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CZNC shares. TheStreet cut shares of Citizens & Northern from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th. StockNews.com upgraded shares of Citizens & Northern from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd.

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.