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. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date of this dividend is Friday, May 3rd.

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

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

Citizens & Northern (NASDAQ:CZNC) last issued its quarterly earnings data on Monday, March 11th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.08). The business had revenue of $25.27 million for 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%. Equities research analysts expect that Citizens & Northern will post 1.63 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CZNC shares. StockNews.com raised shares of Citizens & Northern from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. TheStreet cut shares of Citizens & Northern from a “b-” rating to a “c+” rating in a report on Wednesday, March 13th.

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.