Citizens Financial Services (NASDAQ:CZFS) Upgraded to Buy at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Citizens Financial Services (NASDAQ:CZFS) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. Janney Montgomery Scott currently has $53.00 price target on the stock.

Citizens Financial Services Trading Up 3.1 %

Shares of CZFS opened at $43.90 on Tuesday. The firm has a market cap of $206.77 million, a P/E ratio of 11.90 and a beta of 0.40. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.99 and a quick ratio of 0.99. Citizens Financial Services has a 1 year low of $38.91 and a 1 year high of $92.00. The company has a 50 day simple moving average of $44.77 and a two-hundred day simple moving average of $52.52.

Citizens Financial Services (NASDAQ:CZFS) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.02). The company had revenue of $25.34 million during the quarter, compared to the consensus estimate of $27.80 million. Citizens Financial Services had a net margin of 11.63% and a return on equity of 10.57%. On average, equities analysts expect that Citizens Financial Services will post 5.66 earnings per share for the current fiscal year.

Citizens Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.49 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.46%. Citizens Financial Services’s dividend payout ratio is currently 53.12%.

Hedge Funds Weigh In On Citizens Financial Services

Several institutional investors have recently added to or reduced their stakes in CZFS. Commonwealth Equity Services LLC increased its position in Citizens Financial Services by 5.9% in the third quarter. Commonwealth Equity Services LLC now owns 6,030 shares of the company’s stock worth $289,000 after purchasing an additional 337 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Citizens Financial Services in the 3rd quarter worth about $37,000. Finally, SG Americas Securities LLC bought a new stake in shares of Citizens Financial Services in the 4th quarter worth about $119,000. Hedge funds and other institutional investors own 22.49% of the company’s stock.

Citizens Financial Services Company Profile

Citizens Financial Services, Inc, a bank holding company, 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.