Citizens Financial Services (NASDAQ:CZFS) Releases Quarterly Earnings Results, Beats Estimates By $0.40 EPS

by · The Cerbat Gem

Citizens Financial Services (NASDAQ:CZFS – Get Free Report) announced its earnings results on Thursday. The company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.40, FiscalAI reports. Citizens Financial Services had a net margin of 19.80% and a return on equity of 10.91%. The business had revenue of $27.79 million for the quarter.

Citizens Financial Services Trading Up 1.1%

NASDAQ:CZFS traded up $0.68 during midday trading on Thursday, reaching $61.83. 9,812 shares of the stock traded hands, compared to its average volume of 12,502. The stock has a market capitalization of $297.40 million, a P/E ratio of 8.67 and a beta of 0.41. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.98 and a current ratio of 0.98. The company has a fifty day moving average of $59.49 and a 200 day moving average of $58.51. Citizens Financial Services has a 12 month low of $49.96 and a 12 month high of $69.30.

Citizens Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 12th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, December 12th. Citizens Financial Services’s dividend payout ratio is currently 28.05%.

Insider Activity at Citizens Financial Services

In other news, CEO Randall E. Black bought 478 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $54.10 per share, for a total transaction of $25,859.80. Following the completion of the acquisition, the chief executive officer owned 44,013 shares in the company, valued at approximately $2,381,103.30. This trade represents a 1.10% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have bought 516 shares of company stock worth $27,903 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC purchased a new position in shares of Citizens Financial Services during the third quarter valued at approximately $301,000. Dimensional Fund Advisors LP increased its position in Citizens Financial Services by 6.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 24,419 shares of the company’s stock valued at $1,472,000 after purchasing an additional 1,496 shares during the period. JPMorgan Chase & Co. raised its holdings in Citizens Financial Services by 12.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,591 shares of the company’s stock worth $277,000 after purchasing an additional 510 shares in the last quarter. Bank of America Corp DE raised its holdings in Citizens Financial Services by 38.5% in the 2nd quarter. Bank of America Corp DE now owns 4,780 shares of the company’s stock worth $281,000 after purchasing an additional 1,328 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Citizens Financial Services by 37.0% in the 2nd quarter. Jane Street Group LLC now owns 5,880 shares of the company’s stock worth $345,000 after purchasing an additional 1,589 shares during the period. Institutional investors own 22.49% of the company’s stock.

Analyst Ratings Changes

CZFS has been the topic of several research reports. Janney Montgomery Scott upgraded shares of Citizens Financial Services to a “strong-buy” rating in a research report on Wednesday, October 22nd. Zacks Research raised Citizens Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Citizens Financial Services in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy”.

Read Our Latest Stock Report on CZFS

About Citizens Financial Services

(Get Free Report)

Citizens Financial Services, Inc (NASDAQ:CZFS) is a bank holding company headquartered in Elderton, Pennsylvania, providing a range of retail and commercial banking services through its primary subsidiary, Citizens Savings Bank. The company offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit, supported by online and mobile banking platforms tailored to personal and business clients.

Beyond deposit-taking, Citizens Financial Services underwrites a variety of lending products, including residential mortgage loans, home equity financing, commercial real estate loans, construction lending and consumer installment loans.

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