Citizens & Northern Co. (CZNC) to Issue Quarterly Dividend of $0.28 on August 9th

Citizens & Northern Co. (NASDAQ:CZNC) declared a quarterly dividend on Thursday, July 18th, Zacks reports. Investors of record on Monday, July 29th will be given a dividend of 0.28 per share by the financial services provider on Friday, August 9th. This represents a $1.12 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date is Monday, July 29th.

Citizens & Northern has increased its dividend payment by an average of 1.2% per year over the last three years. Citizens & Northern has a dividend payout ratio of 62.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Citizens & Northern to earn $1.80 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 62.2%.

Citizens & Northern Stock Performance

CZNC opened at $19.48 on Friday. The firm has a market capitalization of $299.60 million, a PE ratio of 12.82 and a beta of 0.47. Citizens & Northern has a twelve month low of $16.50 and a twelve month high of $23.50. The firm’s 50-day moving average price is $17.63 and its 200 day moving average price is $18.41. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.72.

Citizens & Northern (NASDAQ:CZNC) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Citizens & Northern had a net margin of 16.20% and a return on equity of 9.17%. The company had revenue of $25.72 million for the quarter, compared to the consensus estimate of $26.74 million. As a group, sell-side analysts expect that Citizens & Northern will post 1.62 EPS for the current fiscal year.

Insider Activity

In related news, Director Terry L. Lehman purchased 1,500 shares of Citizens & Northern stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average cost of $17.00 per share, with a total value of $25,500.00. Following the purchase, the director now owns 25,567 shares of the company’s stock, valued at $434,639. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders have purchased 2,229 shares of company stock valued at $38,118. Company insiders own 3.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Citizens & Northern from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th.

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.