In a recent transaction on May 3, Katherine W. Shattuck, a director at CITIZENS & NORTHERN CORP (NASDAQ:CZNC), purchased 159 shares of the company's common stock at an average price of $17.878 per share, totaling approximately $2,842. This transaction was disclosed in a filing with the Securities and Exchange Commission.
The purchase by Shattuck is a notable investment in the company, as it increases her direct ownership in CITIZENS & NORTHERN CORP to 6,664 shares. The transaction reflects a vote of confidence from the director in the financial institution's future prospects.
CITIZENS & NORTHERN CORP, which is classified under state commercial banks, is incorporated in Pennsylvania. It operates with a focus on providing banking services to its clients.
Investors often monitor insider transactions as they can provide insights into how the company's executives and directors view the stock's value and future performance. While insider buying can suggest that those with the most knowledge of the company see value in the stock at current prices, it is just one of many factors that investors may consider when making investment decisions.
The details of this transaction have been made public as part of regulatory requirements, ensuring transparency in the financial markets and providing investors with important information regarding insider transactions.
InvestingPro Insights
Following the recent insider purchase by director Katherine W. Shattuck, investors may find the InvestingPro metrics and tips for CITIZENS & NORTHERN CORP (CZNC) quite illuminating. As of the last twelve months as of Q1 2024, CZNC boasts a market capitalization of $280.65 million and a Price to Earnings (P/E) ratio of 12.26. These figures suggest a company with a solid valuation relative to its earnings. Moreover, the company's Price to Book (P/B) ratio stands at 1.08, indicating that the stock may be reasonably valued in terms of its net asset value.
One of the notable InvestingPro Tips for CZNC is its significant dividend yield, which as of the most recent data, stands at an attractive 6.29%. This could be particularly appealing to income-seeking investors, especially considering the company's impressive track record of maintaining dividend payments for 38 consecutive years. Additionally, analysts predict that CITIZENS & NORTHERN CORP will remain profitable this year, a sentiment that is supported by the company's positive earnings per share (EPS) of $1.52 over the last twelve months.
While the company's gross profit margins have been identified as a weak point, the long history of dividend payments and the current profitability may compensate for this concern in the eyes of certain investors. For those looking to delve deeper, there are additional InvestingPro Tips available at InvestingPro, which can provide further insights into CZNC's financial health and future prospects. Use coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable tips; there are 5 more tips listed on InvestingPro for CITIZENS & NORTHERN CORP.
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