Citizens & Northern Co. (NASDAQ:CZNC) Sees Large Decrease in Short Interest

Citizens & Northern Co. (NASDAQ:CZNCGet Rating) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 194,100 shares, a decline of 8.1% from the August 15th total of 211,100 shares. Based on an average daily volume of 15,300 shares, the days-to-cover ratio is presently 12.7 days. Approximately 1.3% of the shares of the stock are sold short.

Citizens & Northern Trading Down 3.3 %

Shares of CZNC stock opened at $23.94 on Tuesday. The stock’s 50-day moving average price is $24.45 and its 200-day moving average price is $24.36. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. Citizens & Northern has a 12-month low of $23.21 and a 12-month high of $27.99. The stock has a market capitalization of $370.90 million, a price-to-earnings ratio of 12.94 and a beta of 0.39.

Citizens & Northern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Monday, August 1st were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, July 29th. This represents a $1.12 annualized dividend and a yield of 4.68%. Citizens & Northern’s payout ratio is currently 60.54%.

Institutional Investors Weigh In On Citizens & Northern

Several large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its stake in Citizens & Northern by 4,949.2% during the second quarter. Captrust Financial Advisors now owns 9,947 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 9,750 shares during the last quarter. State Street Corp increased its stake in Citizens & Northern by 2.6% during the second quarter. State Street Corp now owns 260,244 shares of the financial services provider’s stock worth $6,290,000 after acquiring an additional 6,486 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Citizens & Northern by 35.9% during the second quarter. BNP Paribas Arbitrage SA now owns 3,528 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 932 shares during the last quarter. Rhumbline Advisers increased its stake in Citizens & Northern by 15.1% during the second quarter. Rhumbline Advisers now owns 21,680 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 2,841 shares during the last quarter. Finally, Cetera Advisor Networks LLC bought a new stake in Citizens & Northern during the second quarter worth approximately $1,061,000. 28.30% of the stock is owned by institutional investors.

Citizens & Northern Company Profile

(Get Rating)

Citizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides a range of banking and mortgage services to individual and corporate customers. The company offers lending products include commercial, mortgage, and consumer loans, as well as specialized instruments, such as commercial letters-of-credit; and deposit products, including various types of checking accounts, passbook and statement savings accounts, money market accounts, interest checking accounts, individual retirement accounts, and certificates of deposits.

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