In a recent transaction, Robert G Loughery, a director at Citizens & Northern Corp (NASDAQ:CZNC), has purchased additional shares in the company. According to the latest filings, Loughery acquired 94 shares of common stock at a price of $17.6757 per share, amounting to a total investment of approximately $1,661.
The acquisition, which took place on May 8, 2024, was executed under a prearranged trading plan that became effective on May 1, 2024. Following this purchase, Loughery's direct holdings in the company have increased to a total of 8,730 shares.
Citizens & Northern Corp, headquartered in Wellsboro, Pennsylvania, operates as a state commercial bank. The company's stock is publicly traded, offering investors the opportunity to participate in the financial institution's performance.
This transaction indicates a continuing commitment from the director in the company's future, and it provides investors with information on insider activity which can sometimes be seen as a signal of the executive's confidence in the company's prospects.
Investors and market watchers often pay close attention to insider transactions as they can provide insights into how the company's leadership views the stock's value and potential. However, it's important to consider that insider purchases can be influenced by various factors and may not always be indicative of future stock performance.
The details of the transaction were made public through a Form 4 filing with the Securities and Exchange Commission. The reported trades are part of standard disclosures that provide transparency into the actions of company insiders, contributing to the overall information available to the investing public.
InvestingPro Insights
As part of our ongoing coverage, we're providing key financial metrics and tips from InvestingPro that shed light on Citizens & Northern Corp’s current market position. According to InvestingPro data, Citizens & Northern Corp has a market capitalization of $274.92 million, with a Price/Earnings (P/E) ratio of 11.76 as of Q1 2024. The company's Price to Book value stands at 1.05, reflecting the market's valuation of the company relative to its book value.
From the perspective of dividend investors, Citizens & Northern Corp is noteworthy, as it not only pays a significant dividend but has also maintained its dividend payments for an impressive 38 consecutive years. This consistency is a testament to the company's stability and commitment to returning value to shareholders. Moreover, the company's dividend yield as of May 2024 is an attractive 6.15%, with the last dividend ex-date recorded on May 3, 2024.
While the company’s gross profit margins have been identified as a weak spot, Citizens & Northern Corp has been profitable over the last twelve months, and analysts predict profitability will continue this year. These insights suggest that while there are areas for improvement, the company has a solid foundation of profitability and a strong dividend-paying track record.
For those looking for more in-depth analysis, InvestingPro offers additional tips on Citizens & Northern Corp. With the use of coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable insights. Currently, there are 4 additional InvestingPro Tips available for Citizens & Northern Corp, which can provide investors with a more comprehensive understanding of the company's financial health and future prospects.
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