Frank G. Pellegrino, a director at Citizens & Northern Corp (NASDAQ:CZNC), recently acquired 228 shares of the company's common stock, according to a recent SEC filing. The shares were purchased at an average price of $20.4587 each, totaling approximately $4,664. This transaction was executed under a pre-established trading plan that became effective on May 1, 2024. Following this transaction, Pellegrino now directly owns 40,706 shares of the bank holding company. The stock, which currently offers a 5.47% dividend yield, is trading near its 52-week low of $16.50 and appears slightly undervalued according to InvestingPro Fair Value analysis. Discover more insights and exclusive financial metrics with InvestingPro.
In other recent news, Citizens & Northern has maintained its Neutral rating by Piper Sandler, with a steady price target of $22.00. This rating suggests that the company's shares are appropriately valued, with a potential upside of around 7% to the target. The investment firm's analysis projects Citizens & Northern's stock to trade at about 12 times its estimated 2025 earnings per share (EPS) of $1.83, a valuation consistent with similar market multiples of peers.
Piper Sandler's methodology for the 12-month price target expects Citizens & Northern's shares to trade at approximately 145% of its tangible book value per share within a year. The firm's stance reflects that there is currently no compelling reason to adjust the rating or price target based on the company's financial metrics and market performance. These are the recent developments that are shaping the company's financial trajectory.
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