In a recent transaction disclosed by Citizens & Northern Corp (NASDAQ:CZNC), Frank G. Pellegrino, a director at the company, acquired 254 shares of common stock. The purchase, made on January 3, 2025, was executed at a price of $18.3129 per share, resulting in a total transaction value of $4,651. Following this acquisition, Pellegrino now holds 40,960 shares directly.
This transaction was carried out under a written plan that became effective on May 1, 2024, as noted in the filing. The acquisition reflects Pellegrino's continued investment in the company, aligning with his role as a director. According to InvestingPro data, Citizens & Northern has maintained dividend payments for 38 consecutive years, demonstrating strong shareholder commitment. Subscribers can access additional insights and 12+ more exclusive ProTips about CZNC's financial health and outlook.
In other recent news, Piper Sandler has maintained a Neutral rating on Citizens & Northern, holding steady with a price target of $22.00. Piper Sandler's analysis suggests that the company's shares are appropriately valued in the market, with a potential upside of approximately 7% to the target. The firm's projections indicate that Citizens & Northern's stock is expected to trade at roughly 12 times its estimated 2025 earnings per share (EPS) of $1.83, a valuation in line with similar market multiples of peer companies.
Further analysis by Piper Sandler suggests that Citizens & Northern's shares will trade at about 145% of its tangible book value per share (TBVPS) within the next year. This projection is based on a comprehensive evaluation of the company's financials and market comparisons. The firm's stance is primarily influenced by Citizens & Northern's current valuation relative to its peers, indicating no compelling reason to adjust the rating or price target based on the available financial metrics and market performance. These are among the recent developments for Citizens & Northern.
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