Short Interest in Citizens & Northern Co. (NASDAQ:CZNC) Decreases By 12.0%

Citizens & Northern Co. (NASDAQ:CZNC) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 54,800 shares, a decrease of 12.0% from the November 15th total of 62,300 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 23,900 shares, the short-interest ratio is presently 2.3 days.

Citizens & Northern Stock Performance

Citizens & Northern stock traded down $0.51 during mid-day trading on Tuesday, hitting $19.24. 40,261 shares of the company’s stock traded hands, compared to its average volume of 25,160. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $19.87 and a two-hundred day simple moving average of $19.13. Citizens & Northern has a fifty-two week low of $16.50 and a fifty-two week high of $23.50. The stock has a market cap of $296.57 million, a price-to-earnings ratio of 13.33 and a beta of 0.47.

Citizens & Northern (NASDAQ:CZNC) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). The company had revenue of $27.49 million for the quarter, compared to the consensus estimate of $28.10 million. Citizens & Northern had a return on equity of 8.28% and a net margin of 14.47%. On average, research analysts expect that Citizens & Northern will post 1.61 EPS for the current fiscal year.

Citizens & Northern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were paid a dividend of $0.28 per share. The ex-dividend date was Monday, October 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.82%. Citizens & Northern’s dividend payout ratio (DPR) is currently 77.78%.

Institutional Trading of Citizens & Northern

Institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Citizens & Northern during the 3rd quarter worth $37,000. State Street Corp increased its position in Citizens & Northern by 1.1% during the third quarter. State Street Corp now owns 308,868 shares of the financial services provider’s stock worth $6,082,000 after acquiring an additional 3,297 shares during the period. Bank of New York Mellon Corp raised its stake in Citizens & Northern by 4.4% in 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 purchasing an additional 4,173 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Citizens & Northern by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 345,823 shares of the financial services provider’s stock valued at $6,811,000 after purchasing an additional 4,243 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Citizens & Northern during the 3rd quarter worth approximately $102,000. 30.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised shares of Citizens & Northern to a “hold” rating in a research note on Monday, December 2nd.

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.