Notable Price Action: Could Citizens & Northern Corporation Change Direction After Reaching 52-Week High?

Notable Price Action: Could Citizens & Northern Corporation Change Direction After Reaching 52 Week High?

The stock of Citizens & Northern Corporation (NASDAQ:CZNC) hit a new 52-week high and has $38.78 target or 59.00% above today’s $24.39 share price. The 9 months bullish chart indicates low risk for the $311.04M company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $38.78 price target is reached, the company will be worth $183.51M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 24,133 shares traded hands or 59.12% up from the average. Citizens & Northern Corporation (NASDAQ:CZNC) has risen 20.38% since April 11, 2016 and is uptrending. It has outperformed by 14.23% the S&P500.

According to Zacks Investment Research, “Citizens & Northern Corporation is a one-bank holding company whose principal subsidiary is Citizens & Northern Bank. The Corporation’s principal office is located in Wellsboro, Pennsylvania. The Corporation’s other wholly-owned subsidiaries are Citizens & Northern Investment Corporation and Bucktail Life Insurance Company. Citizens & Northern Investment Corporation was formed in 1999 to engage in investment activities. Bucktail provides credit life and accident and health insurance on behalf of the Bank.”

Insitutional Activity: The institutional sentiment decreased to 0.89 in 2016 Q2. Its down 0.36, from 1.25 in 2016Q1. The ratio dropped, as 3 funds sold all Citizens & Northern Corporation shares owned while 24 reduced positions. 2 funds bought stakes while 22 increased positions. They now own 3.16 million shares or 5.92% less from 3.36 million shares in 2016Q1.
Moreover, Citigroup has 0% invested in Citizens & Northern Corporation (NASDAQ:CZNC) for 2,011 shares. Cordasco Fincl, a Pennsylvania-based fund reported 14,000 shares. Morgan Stanley has 4,318 shares for 0% of their US portfolio. Neuberger Berman Grp Ltd Liability Company has invested 0% of its portfolio in Citizens & Northern Corporation (NASDAQ:CZNC). The Pennsylvania-based Logan Cap has invested 0.11% in Citizens & Northern Corporation (NASDAQ:CZNC). Manufacturers Life Insur The last reported 0% of its portfolio in the stock. The New York-based Teton Incorporated has invested 0.03% in Citizens & Northern Corporation (NASDAQ:CZNC). Dimensional Fund Advsr L P holds 0% of its portfolio in Citizens & Northern Corporation (NASDAQ:CZNC) for 97,295 shares. New York State Common Retirement Fund, a New York-based fund reported 23,100 shares. Northern Trust Corp has 0% invested in the company for 126,822 shares. Blackrock Fund holds 313,898 shares or 0% of its portfolio. Tower Capital Ltd Liability Corp (Trc) has 0% invested in the company for 105 shares. Invesco Ltd holds 15,800 shares or 0% of its portfolio. Prudential Financial has 0% invested in the company for 37,916 shares. Metropolitan Life Insur Communications Ny last reported 10,339 shares in the company.

Insider Transactions: Since May 13, 2016, the stock had 13 insider buys, and 0 sales for $82,624 net activity. The insider Lehman Terry L bought 2,000 shares worth $43,369. Pellegrino Frank G bought $6,474 worth of Citizens & Northern Corporation (NASDAQ:CZNC) on Friday, October 7. Shares for $6,217 were bought by FISHER JAN E on Friday, July 8. 248 shares were bought by LAMBERT LEO F, worth $4,975.

More news for Citizens & Northern Corporation (NASDAQ:CZNC) were recently published by: Seekingalpha.com, which released: “Recent Buy: Citizens & Northern” on January 31, 2016. Streetinsider.com‘s article titled: “Form 4 CITIZENS & NORTHERN CORP For: Nov 04 Filed by: Pellegrino Frank G” and published on November 07, 2016 is yet another important article.

CZNC Company Profile

Citizens & Northern Corporation, incorporated on February 19, 1987, is a holding firm whose principal activity is community banking. The Company, through its subsidiaries, is primarily engaged in providing a range of banking and mortgage services to individual and corporate clients in North Central Pennsylvania and Southern New York State. The Firm operates through Community Banking segment. The Firm offers lending products, including mortgage loans, commercial loans and consumer loans, as well as specialized instruments, such as commercial letters-of-credit. The Company’s deposit products include various types of checking accounts, passbook and statement savings, money market accounts, interest checking accounts, Individual Retirement Accounts (IRAs) and certificates of deposit. The Firm also offers non-insured Repo Sweep accounts. It provides trust and financial management services, including administration of trusts and estates, retirement plans, and other employee benefit plans, and investment management services.

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