Citizens & Northern (CZNC) Downgraded to “Sell” at BidaskClub

BidaskClub cut shares of Citizens & Northern (NASDAQ:CZNC) from a hold rating to a sell rating in a research report report published on Wednesday.

Citizens & Northern (CZNC) opened at $24.12 on Wednesday. Citizens & Northern has a 1-year low of $22.00 and a 1-year high of $26.75. The firm has a market capitalization of $295.33, a price-to-earnings ratio of 18.70 and a beta of 0.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80.

Citizens & Northern (NASDAQ:CZNC) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Citizens & Northern had a net margin of 25.58% and a return on equity of 8.33%.

A number of large investors have recently made changes to their positions in the business. Nationwide Fund Advisors boosted its position in shares of Citizens & Northern by 6.6% in the second quarter. Nationwide Fund Advisors now owns 8,021 shares of the financial services provider’s stock worth $187,000 after buying an additional 500 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Citizens & Northern in the third quarter worth about $256,000. Alliancebernstein L.P. boosted its position in shares of Citizens & Northern by 13.6% in the second quarter. Alliancebernstein L.P. now owns 15,002 shares of the financial services provider’s stock worth $349,000 after buying an additional 1,800 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Citizens & Northern by 31.6% in the second quarter. The Manufacturers Life Insurance Company now owns 15,072 shares of the financial services provider’s stock worth $350,000 after buying an additional 3,616 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Citizens & Northern by 66.5% in the third quarter. Wells Fargo & Company MN now owns 14,266 shares of the financial services provider’s stock worth $350,000 after buying an additional 5,697 shares during the period. Institutional investors own 29.09% of the company’s stock.

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About Citizens & Northern

Citizens & Northern Corporation is a holding company. The Company’s principal activity is community banking. The Company, through its subsidiaries, is engaged in providing a range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State.

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