Citizens & Northern Co. (NASDAQ:CZNC) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC trimmed its holdings in shares of Citizens & Northern Co. (NASDAQ:CZNC) by 19.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,532 shares of the financial services provider’s stock after selling 25,515 shares during the period. Citizens & Northern accounts for about 1.2% of IVC Wealth Advisors LLC’s holdings, making the stock its 16th biggest holding. IVC Wealth Advisors LLC owned approximately 0.69% of Citizens & Northern worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CZNC. Fulton Bank N.A. purchased a new stake in Citizens & Northern during the 4th quarter worth approximately $213,000. New York State Common Retirement Fund raised its stake in Citizens & Northern by 40.1% during the fourth quarter. New York State Common Retirement Fund now owns 5,603 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,605 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Citizens & Northern by 20.9% during the fourth quarter. SG Americas Securities LLC now owns 8,150 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 1,409 shares during the last quarter. 30.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on CZNC. TheStreet downgraded 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 report on Wednesday, May 29th.

Citizens & Northern Trading Down 0.9 %

NASDAQ CZNC traded down $0.15 on Wednesday, hitting $17.23. 19,073 shares of the stock were exchanged, compared to its average volume of 24,749. The company’s 50-day moving average price is $17.43 and its two-hundred day moving average price is $18.72. The company has a market capitalization of $265.00 million, a price-to-earnings ratio of 11.34 and a beta of 0.47. Citizens & Northern Co. has a 52-week low of $16.50 and a 52-week high of $23.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.92 and a quick ratio of 0.92.

Citizens & Northern (NASDAQ:CZNC) last released its earnings results on Tuesday, May 7th. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Citizens & Northern had a return on equity of 9.17% and a net margin of 16.20%. The company had revenue of $25.72 million for the quarter, compared to analysts’ expectations of $26.74 million. Research analysts predict that Citizens & Northern Co. will post 1.59 EPS for the current year.

Citizens & Northern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 6.50%. The ex-dividend date of this dividend was Friday, May 3rd. Citizens & Northern’s payout ratio is currently 73.68%.

Insider Transactions at Citizens & Northern

In other news, Director Terry L. Lehman acquired 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $25,500.00. Following the completion of the acquisition, the director now owns 25,567 shares of the company’s stock, valued at approximately $434,639. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 2,457 shares of company stock valued at $42,527 in the last three months. Corporate insiders own 3.95% of the company’s stock.

Citizens & Northern Profile

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.