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

BidaskClub downgraded shares of Citizens & Northern (NASDAQ:CZNC) from a hold rating to a sell rating in a report released on Thursday.

Separately, Sandler O’Neill set a $29.00 price objective on shares of Citizens & Northern and gave the company a hold rating in a research note on Monday, July 23rd.

Shares of CZNC opened at $27.66 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.81 and a current ratio of 0.81. Citizens & Northern has a 1 year low of $22.00 and a 1 year high of $28.99.

The company also recently disclosed a dividend, which will be paid on Monday, October 8th. Shareholders of record on Monday, July 30th will be paid a $0.27 dividend. The ex-dividend date is Friday, July 27th.

Institutional investors and hedge funds have recently made changes to their positions in the business. PARK CIRCLE Co increased its stake in Citizens & Northern by 100.0% in the 1st quarter. PARK CIRCLE Co now owns 40,000 shares of the financial services provider’s stock valued at $924,000 after buying an additional 20,000 shares during the period. Dimensional Fund Advisors LP increased its stake in Citizens & Northern by 14.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 247,815 shares of the financial services provider’s stock valued at $5,722,000 after buying an additional 31,780 shares during the period. Acadian Asset Management LLC acquired a new position in Citizens & Northern in the 2nd quarter valued at $162,000. BlackRock Inc. increased its stake in Citizens & Northern by 4.6% in the 2nd quarter. BlackRock Inc. now owns 919,458 shares of the financial services provider’s stock valued at $23,777,000 after buying an additional 40,041 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Citizens & Northern by 16.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 23,729 shares of the financial services provider’s stock valued at $614,000 after buying an additional 3,429 shares during the period. 29.47% of the stock is currently owned by institutional investors.

About Citizens & Northern

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 in North Central Pennsylvania and Southern New York. The company offers 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, as well as non-insured RepoSweep accounts.

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