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Citizens Financial Services

OTCPK:CZFS
Snowflake Description

Excellent balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CZFS
OTCPK
$211M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Citizens Financial Services, Inc. operates as the holding company for First Citizens Community Bank that provides various banking products and services for individual, business, governmental, and institutional customers. The last earnings update was 17 days ago. More info.


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CZFS Share Price and Events
7 Day Returns
1.3%
OTCPK:CZFS
-7.4%
US Banks
-1.1%
US Market
1 Year Returns
-2.9%
OTCPK:CZFS
-9.6%
US Banks
6.4%
US Market
CZFS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Citizens Financial Services (CZFS) 1.3% 1.3% 5.7% -2.9% 33.1% 16.4%
US Banks -7.4% -7.7% 9.7% -9.6% 40.7% 32.9%
US Market -1.1% 0.3% 17.2% 6.4% 37.9% 42.1%
1 Year Return vs Industry and Market
  • CZFS outperformed the Banks industry which returned -9.6% over the past year.
  • CZFS underperformed the Market in United States of America which returned 6.4% over the past year.
Price Volatility
CZFS
Industry
5yr Volatility vs Market

CZFS Value

 Is Citizens Financial Services undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Citizens Financial Services to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Citizens Financial Services.

OTCPK:CZFS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $36.26 * 10.2%
$3.70
Book Value of Equity per Share Median Book Value from the past 5 years. $36.26
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:CZFS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.61
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.611 (1 + (1- 21%) (43.24%))
0.88
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.88 * 5.96%)
7.97%

Discounted Cash Flow Calculation for OTCPK:CZFS using Excess Returns Model Model

The calculations below outline how an intrinsic value for Citizens Financial Services is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

OTCPK:CZFS Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.2% – 7.97%) * $36.26)
$0.81
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.81 / (7.97% - 2.73%)
$15.37
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $36.26 + $15.37
$51.62
OTCPK:CZFS Discount to Share Price
Calculation Result
Value per share (USD) From above. $51.62
Current discount Discount to share price of $60.25
= -1 x ($60.25 - $51.62) / $51.62
-16.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Citizens Financial Services is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Citizens Financial Services's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Citizens Financial Services's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:CZFS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $5.14
OTCPK:CZFS Share Price ** OTCPK (2019-03-22) in USD $60.25
United States of America Banks Industry PE Ratio Median Figure of 587 Publicly-Listed Banks Companies 12.68x
United States of America Market PE Ratio Median Figure of 3,062 Publicly-Listed Companies 17.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Citizens Financial Services.

OTCPK:CZFS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OTCPK:CZFS Share Price ÷ EPS (both in USD)

= 60.25 ÷ 5.14

11.71x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Citizens Financial Services is good value based on earnings compared to the US Banks industry average.
  • Citizens Financial Services is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Citizens Financial Services's expected growth come at a high price?
Raw Data
OTCPK:CZFS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.71x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
5.3%per year
United States of America Banks Industry PEG Ratio Median Figure of 260 Publicly-Listed Banks Companies 1.13x
United States of America Market PEG Ratio Median Figure of 2,105 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

OTCPK:CZFS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.71x ÷ 5.3%

2.21x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Citizens Financial Services is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Citizens Financial Services's assets?
Raw Data
OTCPK:CZFS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $39.73
OTCPK:CZFS Share Price * OTCPK (2019-03-22) in USD $60.25
United States of America Banks Industry PB Ratio Median Figure of 592 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,165 Publicly-Listed Companies 1.85x
OTCPK:CZFS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OTCPK:CZFS Share Price ÷ Book Value per Share (both in USD)

= 60.25 ÷ 39.73

1.52x

* Primary Listing of Citizens Financial Services.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Citizens Financial Services is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess Citizens Financial Services's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Citizens Financial Services has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CZFS Future Performance

 How is Citizens Financial Services expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Citizens Financial Services expected to grow at an attractive rate?
  • Citizens Financial Services's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Citizens Financial Services's earnings growth is positive but not above the United States of America market average.
  • Citizens Financial Services's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:CZFS Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:CZFS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 5.3%
OTCPK:CZFS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 1.2%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4.3%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:CZFS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:CZFS Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 54 20 1
2019-12-31 51 20 1
OTCPK:CZFS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 53 21 18
2018-09-30 53 18 16
2018-06-30 51 16 15
2018-03-31 50 16 14
2017-12-31 48 16 13
2017-09-30 46 18 14
2017-06-30 45 20 13
2017-03-31 45 20 13
2016-12-31 44 16 13
2016-09-30 43 15 12
2016-06-30 41 14 12
2016-03-31 40 12 12

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Citizens Financial Services's earnings are expected to grow by 5.3% yearly, however this is not considered high growth (20% yearly).
  • Citizens Financial Services's revenue is expected to grow by 1.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:CZFS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Citizens Financial Services Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CZFS Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 5.74 5.74 5.74 1.00
2019-12-31 5.58 5.58 5.58 1.00
OTCPK:CZFS Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 5.14
2018-09-30 4.59
2018-06-30 4.32
2018-03-31 3.97
2017-12-31 3.70
2017-09-30 3.86
2017-06-30 3.72
2017-03-31 3.58
2016-12-31 3.57
2016-09-30 3.42
2016-06-30 3.42
2016-03-31 3.54

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Citizens Financial Services is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Citizens Financial Services's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Citizens Financial Services has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CZFS Past Performance

  How has Citizens Financial Services performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Citizens Financial Services's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Citizens Financial Services's year on year earnings growth rate has been positive over the past 5 years.
  • Citizens Financial Services's 1-year earnings growth exceeds its 5-year average (38.5% vs 3.6%)
  • Citizens Financial Services's earnings growth has not exceeded the US Banks industry average in the past year (38.5% vs 43.4%).
Earnings and Revenue History
Citizens Financial Services's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Citizens Financial Services Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CZFS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 52.99 18.03 23.68
2018-09-30 52.65 16.12 22.72
2018-06-30 51.38 15.19 21.99
2018-03-31 49.78 13.97 21.61
2017-12-31 48.37 13.03 21.55
2017-09-30 46.34 13.59 21.16
2017-06-30 45.42 13.10 21.09
2017-03-31 44.77 12.66 20.62
2016-12-31 44.34 12.64 20.28
2016-09-30 42.92 11.93 18.94
2016-06-30 41.19 11.63 17.45
2016-03-31 39.57 11.79 16.27
2015-12-31 37.78 11.63 15.28
2015-09-30 37.37 12.64 14.60
2015-06-30 37.33 13.15 14.27
2015-03-31 37.19 13.33 14.16
2014-12-31 37.11 13.39 13.97
2014-09-30 37.05 13.21 14.04
2014-06-30 37.21 13.35 14.15
2014-03-31 37.04 13.26 14.06
2013-12-31 36.94 13.38 13.94
2013-09-30 37.23 13.63 13.90
2013-06-30 37.18 13.58 13.73
2013-03-31 37.59 14.05 13.63
2012-12-31 37.97 14.22 13.59
2012-09-30 37.19 14.14 13.15
2012-06-30 36.56 14.06 12.96
2012-03-31 35.79 13.45 12.78

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Citizens Financial Services has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Citizens Financial Services used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Citizens Financial Services improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Citizens Financial Services's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Citizens Financial Services has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CZFS Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Citizens Financial Services's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Citizens Financial Services Company Filings, last reported 2 months ago.

OTCPK:CZFS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 139.23 91.19 29.54
2018-09-30 134.40 86.10 31.25
2018-06-30 132.28 133.65 29.38
2018-03-31 129.85 124.12 23.01
2017-12-31 129.01 114.66 26.16
2017-09-30 129.88 73.63 23.85
2017-06-30 127.77 70.00 28.15
2017-03-31 124.96 46.84 21.51
2016-12-31 123.27 79.66 22.41
2016-09-30 125.55 51.86 23.33
2016-06-30 124.46 38.79 33.78
2016-03-31 121.97 40.00 45.08
2015-12-31 119.76 41.63 30.43
2015-09-30 103.90 44.66 16.77
2015-06-30 103.23 39.19 16.87
2015-03-31 102.29 29.39 24.74
2014-12-31 100.53 41.80 15.86
2014-09-30 99.16 37.73 17.04
2014-06-30 98.24 43.08 18.22
2014-03-31 95.58 45.73 13.89
2013-12-31 92.06 66.93 11.12
2013-09-30 90.38 43.21 16.24
2013-06-30 88.88 34.09 11.57
2013-03-31 90.77 45.71 37.11
2012-12-31 89.48 46.33 24.87
2012-09-30 89.98 48.21 10.71
2012-06-30 86.54 47.35 17.77
2012-03-31 83.78 73.10 11.84
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Citizens Financial Services has an acceptable proportion of non-loan assets held.
  • Citizens Financial Services's liabilities are made up of primarily low risk sources of funding.
  • Loans at Citizens Financial Services are broadly funded by customer deposits.
  • Citizens Financial Services's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Citizens Financial Services has a low allowance for bad loans.
  • Citizens Financial Services has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Citizens Financial Services's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Citizens Financial Services has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CZFS Dividends

 What is Citizens Financial Services's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.95%
Current annual income from Citizens Financial Services dividends.
If you bought $2,000 of Citizens Financial Services shares you are expected to receive $59 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Citizens Financial Services's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).
  • Citizens Financial Services's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:CZFS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 469 Stocks 3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:CZFS Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31
OTCPK:CZFS Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-13 1.780 2.979
2018-09-20 1.760 2.938
2018-06-06 1.723 2.759
2018-05-10 1.723 2.781
2018-04-26 1.723 2.775
2017-09-14 1.703 2.803
2017-06-07 1.603 3.018
2017-05-16 1.603 3.113
2017-04-26 1.603 3.144
2016-11-23 1.584 3.236
2016-09-06 1.584 3.319
2016-06-10 1.550 3.395
2016-03-09 1.550 3.469
2015-09-23 1.531 3.461
2015-06-16 1.513 3.344
2015-03-13 1.513 3.263
2014-12-03 1.494 3.026
2014-03-06 1.097 2.211
2014-01-24 1.097 2.299
2013-05-09 1.004 2.259
2013-04-23 1.004 2.264
2012-12-21 1.338 3.214
2012-10-11 1.074 2.726
2012-07-10 1.145 2.972
2012-04-12 1.133 3.348
2012-01-10 1.116 3.553
2011-10-25 1.029 3.432
2011-07-06 0.989 3.154
2011-04-11 0.980 3.054
2011-01-11 0.962 2.964
2010-10-06 0.962 3.202
2010-07-15 0.923 3.512
2010-04-07 0.923 3.904
2010-01-08 0.897 3.893
2009-10-15 0.897 4.195
2009-07-16 0.837 4.190
2009-04-23 0.829 4.537
2009-03-25 0.812 4.793

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Citizens Financial Services's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Citizens Financial Services's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Citizens Financial Services afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Citizens Financial Services has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CZFS Management

 What is the CEO of Citizens Financial Services's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Randy Black
COMPENSATION $696,759
AGE 51
TENURE AS CEO 14.9 years
CEO Bio

Mr. Randall E. Black, also known as Randy, has been the President of Citizens Financial Services Inc. and its subsidiary First Citizens Community Bank (Mansfield, PA) since March 2004. Mr. Black has been the Chief Executive Officer of Citizens Financial Services Inc. and First Citizens National Bank since April 20, 2004. He served as Principal Accounting Officer of Citizens Financial Services Inc. since 2001 and also served as its Principal Financial Officer. He also served as Senior Vice President of Citizens Financial Services from 2003 to March 2004. Prior to joining First Citizens, Mr. Black was employed by Parente, Randolph, Orlando, Carey and Associates of Williamsport, Pennsylvania where he focused on bank auditing. He served as Senior Vice President and Chief Financial Officer of First Citizens National Bank since 1999. He served as an Assistant Treasurer of Citizens Financial Services Inc. since 1999. He began his career at First Citizens in 1993. Mr. Black has been a Director of Citizens Financial Services Inc. and First Citizens National Bank since 2004.

CEO Compensation
  • Randy's compensation has been consistent with company performance over the past year.
  • Randy's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Citizens Financial Services management team in years:

14.9
Average Tenure
54
Average Age
  • The average tenure for the Citizens Financial Services management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Randy Black

TITLE
CEO, President & Director
COMPENSATION
$697K
AGE
51
TENURE
14.9 yrs

Mick Jones

TITLE
Executive VP
COMPENSATION
$399K
AGE
57
TENURE
14.8 yrs

Jeff Wilson

TITLE
Executive VP & Chief Lending Officer of First Citizens Community Bank
COMPENSATION
$248K
AGE
56

Terry Osborne

TITLE
Executive VP
COMPENSATION
$401K
AGE
64
TENURE
35.5 yrs

Bob Chappell

TITLE
Assistant Secretary & Director
COMPENSATION
$45K
AGE
51

Kathleen Campbell

TITLE
SVP, CFMP & Director of Marketing of First Citizens National Bank
COMPENSATION
$129K
AGE
57

Cindy Pazzaglia

TITLE
Senior Vice President of Human Resources
AGE
59

Chris Landis

TITLE
Senior VP & Senior Lending Officer of First Citizens Community Bank
AGE
50

Bob Mosso

TITLE
Senior VP & Wealth Management Division Manager of First Citizens Community Bank
AGE
47

Dwight Rohrer

TITLE
Senior VP & Senior Lender of First Citizens Community Bank
AGE
52
Board of Directors Tenure

Average tenure and age of the Citizens Financial Services board of directors in years:

14
Average Tenure
62.5
Average Age
  • The average tenure for the Citizens Financial Services board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

R. Coolidge

TITLE
Chairman of the Board
COMPENSATION
$64K
AGE
77
TENURE
21.2 yrs

Randy Black

TITLE
CEO, President & Director
COMPENSATION
$697K
AGE
51
TENURE
15.2 yrs

Rudolph van der Hiel

TITLE
Vice Chairman of the Board
COMPENSATION
$53K
AGE
78
TENURE
9.3 yrs

Edward Kosa

TITLE
Director
COMPENSATION
$48K
AGE
71
TENURE
18.2 yrs

Robert Landy

TITLE
Director
COMPENSATION
$46K
AGE
63
TENURE
18.2 yrs

Ray DePaola

TITLE
Director
COMPENSATION
$46K
AGE
62
TENURE
12.9 yrs

Bob Chappell

TITLE
Assistant Secretary & Director
COMPENSATION
$45K
AGE
51
TENURE
12.9 yrs

Roger Graham

TITLE
Director
COMPENSATION
$47K
AGE
62
TENURE
18.2 yrs

Thomas Freeman

TITLE
Director
COMPENSATION
$44K
AGE
58
TENURE
9.2 yrs

Alletta Schadler

TITLE
Director
COMPENSATION
$48K
AGE
82
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Citizens Financial Services insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
18. Mar 19 Sell Robert Mosso Individual 18. Mar 19 18. Mar 19 -250 $59.50 $-14,875
26. Feb 19 Buy Christopher Kunes Individual 22. Feb 19 22. Feb 19 281 $59.11 $16,610
21. Feb 19 Buy Christopher Kunes Individual 21. Feb 19 21. Feb 19 241 $59.41 $14,318
06. Feb 19 Buy Rinaldo DePaola Individual 05. Feb 19 05. Feb 19 815 $60.00 $48,660
01. Feb 19 Buy Rinaldo DePaola Individual 31. Jan 19 31. Jan 19 205 $57.99 $11,877
01. Feb 19 Buy Dwight Rohrer Individual 31. Jan 19 31. Jan 19 89 $56.61 $5,038
01. Feb 19 Buy Dwight Rohrer Individual 31. Jan 19 31. Jan 19 209 $57.10 $11,934
17. Dec 18 Sell Jeffrey Carr Individual 17. Dec 18 17. Dec 18 -800 $60.50 $-48,120
07. Dec 18 Sell Rudolph van der Hiel Individual 07. Dec 18 07. Dec 18 -100 $61.00 $-6,100
29. Oct 18 Buy Dwight Rohrer Individual 26. Oct 18 26. Oct 18 100 $61.55 $6,155
08. Aug 18 Buy Dwight Rohrer Individual 07. Aug 18 08. Aug 18 400 $62.35 $24,940
01. Aug 18 Sell Rudolph van der Hiel Individual 01. Aug 18 01. Aug 18 -100 $64.00 $-6,400
09. May 18 Buy Douglas Byers Individual 09. May 18 09. May 18 191 $62.38 $11,907
08. May 18 Buy Douglas Byers Individual 07. May 18 07. May 18 314 $62.38 $19,593
04. May 18 Buy Douglas Byers Individual 03. May 18 03. May 18 303 $62.03 $18,795
X
Management checks
We assess Citizens Financial Services's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Citizens Financial Services has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CZFS News

Simply Wall St News

CZFS Company Info

Description

Citizens Financial Services, Inc. operates as the holding company for First Citizens Community Bank that provides various banking products and services for individual, business, governmental, and institutional customers. The company accepts various deposit products, such as checking, savings, and time deposit accounts. Its loan products include residential, commercial, and agricultural real estate loans; commercial and industrial loans; state and political subdivision loans; and consumer loans, as well as various other specialized financial services. The company also provides professional trust administration, investment management services, estate planning and administration, custody of securities, and individual retirement accounts. In addition, it offers brokerage and financial planning services, as well as manages oil and gas matters related to the customers land; and mutual funds, annuities, and health and life insurance products. As of December 31, 2017, the company operated 26 full-service banking branches in Potter, Tioga, Bradford, Clinton, Lebanon, Lancaster, Berks, Schuylkill, and Centre counties, Pennsylvania; and Allegany County, New York, as well as a limited branch office each in Union and Lancaster counties, Pennsylvania. Citizens Financial Services, Inc. was founded in 1984 and is headquartered in Mansfield, Pennsylvania.

Details
Name: Citizens Financial Services, Inc.
CZFS
Exchange: OTCPK
Founded: 1984
$210,891,689
3,500,277
Website: http://www.firstcitizensbank.com
Address: Citizens Financial Services, Inc.
15 South Main Street,
Mansfield,
Pennsylvania, 16933,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OTCPK CZFS Common Stock Pink Sheets LLC US USD 03. Oct 1990
Number of employees
Current staff
Staff numbers
256
Citizens Financial Services employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/24 23:34
End of day share price update: 2019/03/22 00:00
Last estimates confirmation: 2019/01/28
Last earnings filing: 2019/03/07
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.