NasdaqCM:CZNC

Stock Analysis Report

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Executive Summary

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. More Details


Snowflake Analysis

6 star dividend payer with excellent balance sheet.


Similar Companies

Share Price & News

How has Citizens & Northern's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CZNC is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: CZNC's weekly volatility (7%) has been stable over the past year.


Market Performance


7 Day Return

0.4%

CZNC

-0.3%

US Banks

0.7%

US Market


1 Year Return

-24.8%

CZNC

-16.2%

US Banks

22.2%

US Market

Return vs Industry: CZNC underperformed the US Banks industry which returned -16.6% over the past year.

Return vs Market: CZNC underperformed the US Market which returned 22.7% over the past year.


Shareholder returns

CZNCIndustryMarket
7 Day0.4%-0.3%0.7%
30 Day8.4%20.3%11.8%
90 Day12.2%19.7%8.6%
1 Year-20.6%-24.8%-13.1%-16.2%25.0%22.2%
3 Year-14.4%-25.8%-3.8%-11.8%49.4%39.5%
5 Year17.5%-7.3%42.5%24.8%100.2%78.1%

Long-Term Price Volatility Vs. Market

How volatile is Citizens & Northern's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Citizens & Northern undervalued compared to its fair value and its price relative to the market?

10.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CZNC ($18.92) is trading below our estimate of fair value ($21.06)

Significantly Below Fair Value: CZNC is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CZNC is poor value based on its PE Ratio (15.1x) compared to the US Banks industry average (11.3x).

PE vs Market: CZNC is good value based on its PE Ratio (15.1x) compared to the US market (19.4x).


Price to Earnings Growth Ratio

PEG Ratio: CZNC is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: CZNC's PB Ratio (1x) is in line with the US Banks industry average.


Next Steps

Future Growth

How is Citizens & Northern forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

17.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CZNC's forecast earnings growth (17.4% per year) is above the savings rate (2.2%).

Earnings vs Market: CZNC's earnings (17.4% per year) are forecast to grow slower than the US market (21.8% per year).

High Growth Earnings: CZNC's earnings are forecast to grow, but not significantly.

Revenue vs Market: CZNC's revenue (8.8% per year) is forecast to grow slower than the US market (10.2% per year).

High Growth Revenue: CZNC's revenue (8.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CZNC's Return on Equity is forecast to be low in 3 years time (8.2%).


Next Steps

Past Performance

How has Citizens & Northern performed over the past 5 years?

5.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CZNC has a large one-off loss of $7.8M impacting its September 30 2020 financial results.

Growing Profit Margin: CZNC's current net profit margins (22%) are lower than last year (27.8%).


Past Earnings Growth Analysis

Earnings Trend: CZNC's earnings have grown by 5.7% per year over the past 5 years.

Accelerating Growth: CZNC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CZNC had negative earnings growth (-9.3%) over the past year, making it difficult to compare to the Banks industry average (-4.1%).


Return on Equity

High ROE: CZNC's Return on Equity (6%) is considered low.


Next Steps

Financial Health

How is Citizens & Northern's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: CZNC's Assets to Equity ratio (7.9x) is low.

Allowance for Bad Loans: CZNC has a low allowance for bad loans (43%).

Low Risk Liabilities: 91% of CZNC's liabilities are made up of primarily low risk sources of funding.

Loan Level: CZNC has an appropriate level of Loans to Assets ratio (71%).

Low Risk Deposits: CZNC's Loans to Deposits ratio (90%) is appropriate.

Level of Bad Loans: CZNC has an appropriate level of bad loans (1.5%).


Next Steps

Dividend

What is Citizens & Northern current dividend yield, its reliability and sustainability?

5.71%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CZNC's dividend (5.71%) is higher than the bottom 25% of dividend payers in the US market (1.48%).

High Dividend: CZNC's dividend (5.71%) is in the top 25% of dividend payers in the US market (4.14%)


Stability and Growth of Payments

Stable Dividend: CZNC's dividends per share have been stable in the past 10 years.

Growing Dividend: CZNC's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (86.1%), CZNC's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CZNC's dividends in 3 years are forecast to be covered by earnings (68.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

13.6yrs

Average management tenure


CEO

Brad Scovill (61 yo)

5.75yrs

Tenure

US$926,207

Compensation

Mr. J. Bradley Scovill, also known as Brad, serves as Member of Community Depository Institutions Advisory Council at FRB of Philadelphia. He serves as President and Chief Executive Officer of Citizens & N...


CEO Compensation Analysis

Compensation vs Market: Brad's total compensation ($USD926.21K) is about average for companies of similar size in the US market ($USD1.14M).

Compensation vs Earnings: Brad's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
J. Scovill
President5.75yrsUS$926.21k0.43%
$ 1.2m
Mark Hughes
Executive VPno dataUS$501.79k0.37%
$ 1.1m
Kelley Cwiklinski
Senior VP & Regional Commercial Lending Executive0.42yrno datano data
Blair Rush
Executive VP & Regional President0.42yrno datano data
Janice Ward
Chief Wealth Management Officer0.92yrno datano data
Patrick Donnelly
Chairman of Canisteo Valley Corpno datano datano data
Kimberly Battin
Corporate Secretaryno datano datano data
Deborah Scott
Executive VP and Director of the Trust Dept - Citizens & Northern Bank21.25yrsUS$320.31k0.24%
$ 690.9k
Thomas Rudy
Executive VP and Director of Branch Delivery - Citizens & Northern Bank16.83yrsUS$269.73k0.20%
$ 566.8k
Stan Dunsmore
Executive VP and Chief Credit Officer of Citizens & Northern Bank13.58yrsUS$317.16k0.12%
$ 362.1k
Shelley D'Haene
Executive VP and Senior Operations Officer of Citizens & Northern Bank14.83yrsno data0.097%
$ 282.0k
John Reber
Executive VP and Director of Risk Management - Citizens & Northern Bank16.5yrsno data0.13%
$ 385.3k

13.6yrs

Average Tenure

58yo

Average Age

Experienced Management: CZNC's management team is seasoned and experienced (13.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
J. Scovill
President5.75yrsUS$926.21k0.43%
$ 1.2m
Patrick Donnelly
Chairman of Canisteo Valley Corpno datano datano data
Clark Frame
Independent Director1.67yrsUS$25.40k0.68%
$ 2.0m
Leonard Simpson
Independent Director31.92yrsUS$80.01k0.23%
$ 672.3k
Susan Hartley
Independent Director22.92yrsUS$64.41k0.12%
$ 333.7k
Leo Lambert
Independent Chairman of the Board6.17yrsUS$91.01k0.21%
$ 609.9k
Edwin Schott
Member of Advisory Board - Coudersport/Emporium/Port Alleganyno datano datano data
Frank Pellegrino
Independent Director4.83yrsUS$75.61k0.13%
$ 373.7k
Bobbi Kilmer
Independent Director2.67yrsUS$64.11k0.041%
$ 117.8k
Terry Lehman
Independent Director4.83yrsUS$75.01k0.093%
$ 270.3k
Aaron Singer
Independent Director3.67yrsUS$62.51k0.046%
$ 134.0k
Timothy Schoener
Independent Director1.42yrsUS$13.50k0.012%
$ 36.1k

4.8yrs

Average Tenure

61.5yo

Average Age

Experienced Board: CZNC's board of directors are considered experienced (4.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CZNC insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16%.


Top Shareholders

Company Information

Citizens & Northern Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Citizens & Northern Corporation
  • Ticker: CZNC
  • Exchange: NasdaqCM
  • Founded: 1864
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$289.840m
  • Shares outstanding: 15.89m
  • Website: https://www.cnbankpa.com

Number of Employees


Location

  • Citizens & Northern Corporation
  • 90-92 Main Street
  • PO Box 58
  • Wellsboro
  • Pennsylvania
  • 16901
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CZNCNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDOct 1990

Biography

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 Centr...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/02 23:11
End of Day Share Price2020/12/02 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.