CITIZENS & NORTHERN CORP (NASDAQ:CZNC) director Katherine W. Shattuck has recently purchased shares of the company's common stock, according to the latest filings. The transaction, which took place on May 8, 2024, involved the acquisition of 94 shares at a price of $17.6757 per share, totaling approximately $1,661.
This purchase by Shattuck, who serves as a director of the Pennsylvania-based state commercial bank, is a sign of her ongoing commitment to the company. Following this transaction, Shattuck now owns a total of 6,758 shares in CITIZENS & NORTHERN CORP. It's noteworthy that the acquisition was executed pursuant to a pre-arranged trading plan which became effective on May 1, 2024.
Investors often monitor insider transactions as they can provide insights into the confidence that company executives and directors have in the firm's prospects. While these transactions are a regular part of business for corporate insiders, they are subject to specific regulatory filing requirements which provide transparency for investors.
CITIZENS & NORTHERN CORP's shares are traded on the NASDAQ, and the company is known for its presence in the banking sector, specifically categorized under state commercial banks. As per the latest documents filed, the transaction was signed off by Amy S. Bowser, Attorney-in-Fact for Katherine W. Shattuck, on May 10, 2024.
InvestingPro Insights
The recent insider share purchase by CITIZENS & NORTHERN CORP director Katherine W. Shattuck reflects a personal vote of confidence in the company's trajectory. To provide a broader perspective on the company's financial health, here are some key metrics from InvestingPro:
- The company's Market Cap stands at $274.92 million USD, indicating its size and significance in the market.
- CITIZENS & NORTHERN CORP's Price/Earnings (P/E) Ratio is currently 11.76, with a slightly adjusted P/E Ratio over the last twelve months as of Q1 2024 at 11.93. This suggests the company's earnings are valued reasonably in the market.
- The Dividend Yield as of the latest data point in 2024 is a notable 6.15%, highlighting the company's commitment to returning value to its shareholders.
When considering these financials, it's also beneficial to look at the InvestingPro Tips for CITIZENS & NORTHERN CORP:
- The company pays a significant dividend to shareholders, which has been maintained for an impressive 38 consecutive years, underlining a strong history of shareholder returns.
- Despite weak gross profit margins, analysts predict the company will be profitable this year, and it has indeed been profitable over the last twelve months.
These insights, coupled with the insider buying activity, could suggest that the company's leadership is optimistic about its future performance. For investors seeking more in-depth analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/CZNC. And for those considering an InvestingPro subscription, use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
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