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

Citizens & Northern Co. (NASDAQ:CZNC) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Monday, May 6th will be paid 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 of this dividend is Friday, May 3rd.

Citizens & Northern has increased its dividend by an average of 1.2% per year over the last three years. Citizens & Northern has a dividend payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

NASDAQ CZNC traded up $0.24 during trading hours on Friday, hitting $17.89. The company had a trading volume of 34,115 shares, compared to its average volume of 18,025. Citizens & Northern has a 52 week low of $16.71 and a 52 week high of $23.50. The firm has a 50 day simple moving average of $18.00 and a 200 day simple moving average of $19.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $275.15 million, a price-to-earnings ratio of 11.39 and a beta of 0.44.

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

Analysts Set New Price Targets

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

Citizens & Northern Company Profile

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.