Citizens & Northern Co. to Issue Quarterly Dividend of $0.28 (NASDAQ:CZNC)

Citizens & Northern Co. (NASDAQ:CZNC) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Monday, May 6th will be given a dividend of 0.28 per share by the financial services provider on Friday, May 17th. This represents a $1.12 annualized dividend and a yield of 6.26%. The ex-dividend date is Friday, May 3rd.

Citizens & Northern has increased its dividend by an average of 1.2% annually over the last three years. Citizens & Northern has a payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Citizens & Northern to earn $1.79 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 62.6%.

Citizens & Northern Trading Up 1.4 %

CZNC stock traded up $0.24 during midday trading on Friday, hitting $17.89. The stock had a trading volume of 34,115 shares, compared to its average volume of 18,025. The firm has a market cap of $275.15 million, a PE ratio of 11.39 and a beta of 0.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.91 and a quick ratio of 0.91. Citizens & Northern has a 12-month low of $16.71 and a 12-month high of $23.50. The company’s 50-day moving average price is $18.00 and its 200 day moving average price is $19.39.

Citizens & Northern (NASDAQ:CZNC) last released its earnings results on Monday, March 11th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.08). The firm had revenue of $25.27 million during the quarter, compared to analysts’ expectations of $26.39 million. Citizens & Northern had a return on equity of 9.60% and a net margin of 17.51%. On average, equities research analysts predict that Citizens & Northern will post 1.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

CZNC has been the subject of several recent analyst reports. StockNews.com raised shares of Citizens & Northern from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. TheStreet cut shares of Citizens & Northern from a “b-” rating to a “c+” rating in a research note on Wednesday, March 13th.

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.