In a recent move by Citizens Financial Services (OTC:CZFS) Inc., Jeffrey R. White has been appointed as the Chief Operating Officer, effective July 11, 2024. White brings over 15 years of finance and risk experience to the role, having recently served as Senior Vice President, Deputy Chief Risk Officer, and head of Enterprise Risk Management at Northwest Bancshares (NASDAQ:NWBI), Inc. since March 2023. His professional background also includes significant roles at KPMG LLP.
As the new COO, White will receive an executive compensation package consistent with the company’s other executive officers, including an annual base salary and potential merit-based increases, incentive bonuses, and equity awards as determined by the board of directors.
Additionally, the Board appointed Terry B. Osborne and John P. Painter II as directors on July 16, 2024. Painter is set to join the Audit and Examination Committee, while Osborne's committee assignments have not yet been announced. Both will receive compensation as non-employee directors per the company’s established policies.
There are no reported related party transactions involving White, Osborne, or Painter that would require disclosure under SEC regulations, nor are there any family relationships between the new appointees and other directors or executive officers of the company.
Citizens Financial (NYSE:CFG) Services, headquartered in Mansfield, Pennsylvania, operates as the parent company of First Citizens Community Bank. The NASDAQ Capital Market lists the company's common stock under the ticker symbol CZFS.
InvestingPro Insights
Following the executive changes at Citizens Financial Services Inc ., investors and stakeholders may find the latest metrics and analyst insights from InvestingPro valuable for understanding the company's financial health and market position. With a solid market capitalization of $241.41 million and a price-to-earnings (P/E) ratio of 13.77, the company shows stability in its valuation. Adjusting for the last twelve months as of Q1 2024, the P/E ratio improves to 9.9, indicating a potentially undervalued stock given the company's earnings. Additionally, the company's commitment to shareholder returns is demonstrated by its impressive track record of maintaining dividend payments for 32 consecutive years, with a dividend yield of 3.86% as of the most recent data.
InvestingPro Tips highlight Citizens Financial Services Inc.'s significant return over the last week, month, and three months, with price total returns of 12.52%, 16.28%, and 17.9%, respectively. These figures suggest a strong short-term performance that investors may consider when evaluating the company's stock. Moreover, analysts predict the company will be profitable this year, affirming the positive outlook for Citizens Financial Services Inc.
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