IVC Wealth Advisors LLC Decreases Position in Citizens & Northern Co. (NASDAQ:CZNC)

IVC Wealth Advisors LLC reduced its position in shares of Citizens & Northern Co. (NASDAQ:CZNC) by 3.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,906 shares of the financial services provider’s stock after selling 3,513 shares during the period. Citizens & Northern makes up 1.1% of IVC Wealth Advisors LLC’s portfolio, making the stock its 18th biggest holding. IVC Wealth Advisors LLC owned about 0.65% of Citizens & Northern worth $1,967,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Citizens & Northern during the third quarter valued at about $102,000. BNP Paribas Financial Markets increased its stake in shares of Citizens & Northern by 82.6% in the first quarter. BNP Paribas Financial Markets now owns 7,605 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 3,440 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new position in Citizens & Northern during the second quarter valued at $187,000. Bank of New York Mellon Corp grew its stake in Citizens & Northern by 4.4% during the second quarter. Bank of New York Mellon Corp now owns 98,808 shares of the financial services provider’s stock valued at $1,768,000 after acquiring an additional 4,173 shares in the last quarter. Finally, Citizens & Northern Corp grew its stake in shares of Citizens & Northern by 7.0% in the 2nd quarter. Citizens & Northern Corp now owns 329,394 shares of the financial services provider’s stock worth $5,893,000 after buying an additional 21,443 shares in the last quarter. 30.83% of the stock is currently owned by hedge funds and other institutional investors.

Citizens & Northern Stock Performance

Shares of NASDAQ:CZNC opened at $19.01 on Monday. The firm has a fifty day simple moving average of $19.42 and a two-hundred day simple moving average of $18.51. The stock has a market capitalization of $292.30 million, a P/E ratio of 12.51 and a beta of 0.45. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. Citizens & Northern Co. has a 52 week low of $16.50 and a 52 week high of $23.50.

Citizens & Northern (NASDAQ:CZNC) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The company had revenue of $27.49 million for the quarter, compared to the consensus estimate of $28.10 million. Citizens & Northern had a net margin of 15.75% and a return on equity of 9.06%. On average, analysts expect that Citizens & Northern Co. will post 1.66 earnings per share for the current fiscal year.

Citizens & Northern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, October 28th will be paid a $0.28 dividend. The ex-dividend date is Monday, October 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.89%. Citizens & Northern’s payout ratio is currently 73.68%.

Citizens & Northern 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.