Commonwealth Equity Services LLC Sells 549 Shares of Citizens & Northern Co. (NASDAQ:CZNC)

Commonwealth Equity Services LLC reduced its stake in shares of Citizens & Northern Co. (NASDAQ:CZNC) by 4.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,272 shares of the financial services provider’s stock after selling 549 shares during the period. Commonwealth Equity Services LLC’s holdings in Citizens & Northern were worth $335,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Parametric Portfolio Associates LLC increased its stake in Citizens & Northern by 55.4% during the second quarter. Parametric Portfolio Associates LLC now owns 18,128 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 6,460 shares during the last quarter. Morgan Stanley increased its stake in Citizens & Northern by 50.7% during the second quarter. Morgan Stanley now owns 15,766 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 5,302 shares during the last quarter. Metropolitan Life Insurance Co NY increased its stake in Citizens & Northern by 434,300.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 4,344 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 4,343 shares during the last quarter. Millennium Management LLC bought a new stake in Citizens & Northern during the second quarter worth approximately $440,000. Finally, MetLife Investment Management LLC bought a new position in shares of Citizens & Northern during the second quarter valued at approximately $148,000. 27.83% of the stock is currently owned by institutional investors.

CZNC opened at $27.06 on Friday. The stock has a market cap of $426.22 million, a price-to-earnings ratio of 14.32 and a beta of 0.41. The stock’s 50 day moving average price is $26.20 and its 200-day moving average price is $25.49. Citizens & Northern Co. has a one year low of $18.98 and a one year high of $27.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.90 and a current ratio of 0.90.

Citizens & Northern (NASDAQ:CZNC) last released its earnings results on Monday, November 8th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $25.84 million for the quarter, compared to analysts’ expectations of $25.64 million. Citizens & Northern had a return on equity of 10.42% and a net margin of 26.97%. As a group, analysts predict that Citizens & Northern Co. will post 1.95 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 12th. Investors of record on Monday, November 1st were issued a $0.28 dividend. This is a positive change from Citizens & Northern’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, October 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.14%. Citizens & Northern’s payout ratio is presently 59.26%.

Separately, Zacks Investment Research raised Citizens & Northern from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Wednesday, January 5th.

In other news, Director Susan E. Hartley purchased 2,000 shares of the stock in a transaction that occurred on Monday, December 6th. The stock was purchased at an average price of $25.41 per share, for a total transaction of $50,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 2,549 shares of company stock valued at $65,624 in the last quarter. 3.86% of the stock is owned by company insiders.

Citizens & Northern Company Profile

Citizens & Northern Corp. operates as a holding company, which engages in community banking. It provides a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. The firm’s Lending products include mortgage loans, commercial loans and consumer loans, as well as specialized instruments such as commercial letters-of-credit.

Further Reading: Leveraged Buyout (LBO) Explained

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Institutional Ownership by Quarter for Citizens & Northern (NASDAQ:CZNC)

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