Belpointe Asset Management LLC Buys New Position in Citizens & Northern Co. (NASDAQ:CZNC)

Belpointe Asset Management LLC bought a new stake in shares of Citizens & Northern Co. (NASDAQ:CZNC – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,248 shares of the financial services provider’s stock, valued at approximately $74,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can boosted its stake in Citizens & Northern by 180.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,098 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 707 shares during the period. UBS Group AG raised its holdings in Citizens & Northern by 66.2% in the 3rd quarter. UBS Group AG now owns 2,122 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 845 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Citizens & Northern by 35.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,528 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 932 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in Citizens & Northern in the 1st quarter valued at approximately $205,000. Finally, Royal Bank of Canada raised its holdings in shares of Citizens & Northern by 8.1% in the 3rd quarter. Royal Bank of Canada now owns 8,993 shares of the financial services provider’s stock worth $217,000 after buying an additional 673 shares in the last quarter. Institutional investors own 27.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Citizens & Northern in a report on Thursday. They issued a “sell” rating for the company.

Citizens & Northern Trading Up 0.7 %

Shares of CZNC opened at $19.58 on Monday. The stock has a 50 day simple moving average of $19.97 and a 200-day simple moving average of $22.15. Citizens & Northern Co. has a 1 year low of $16.71 and a 1 year high of $25.77. The stock has a market cap of $300.75 million, a PE ratio of 11.72 and a beta of 0.36. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.54.

Citizens & Northern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 12th. Investors of record on Monday, May 1st were issued a dividend of $0.28 per share. The ex-dividend date was Friday, April 28th. This represents a $1.12 dividend on an annualized basis and a yield of 5.72%. Citizens & Northern’s dividend payout ratio is 67.07%.

Citizens & Northern Profile

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Citizens & Northern Corp. operates as a holding company. 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.