In a recent transaction, Katherine W. Shattuck, a director of CITIZENS & NORTHERN CORP (NASDAQ:CZNC), acquired additional shares of the company, demonstrating confidence in the bank's future prospects. On June 7, 2024, Shattuck purchased 109 shares of common stock at an average price of $17.151 per share, amounting to a total investment of $1,869.
This purchase increases Shattuck's stake in the company, as reflected by the updated holding of 6,950 shares following the transaction. The move by a director to increase their ownership can often be interpreted as a positive signal by investors, suggesting a belief in the company's value and potential for growth.
CITIZENS & NORTHERN CORP, with its headquarters in Wellsboro, Pennsylvania, operates within the state commercial banks sector. As a financial institution, it provides banking services and products to individuals and businesses, contributing to the economic development of the communities it serves.
Investors and stakeholders in CITIZENS & NORTHERN CORP tend to monitor transactions by insiders such as directors, as these can provide insights into the company's internal perspective on the market and its own stock performance. Katherine W. Shattuck's recent purchase aligns with this observation and could be a point of interest for current and potential shareholders.
The transaction was officially filed on June 10, 2024, and the details of the purchase were disclosed in accordance with regulatory requirements. As with all insider transactions, this filing offers transparency and allows the market to consider the implications of such moves by individuals who are closely associated with the company.
InvestingPro Insights
Amid the recent insider trading activity at CITIZENS & NORTHERN CORP (NASDAQ:CZNC), investors may find the latest metrics from InvestingPro particularly insightful. With a market capitalization of approximately $258.93 million, CZNC presents a modest valuation in the banking sector. The company's price-to-earnings (P/E) ratio stands at 11.12, suggesting a reasonable valuation compared to earnings over the last twelve months as of Q1 2024. Additionally, CZNC's dividend yield is notably high at 6.6%, which is especially attractive to income-focused investors.
Insider confidence, such as the recent purchase by director Katherine W. Shattuck, often resonates with market observers. This sentiment is supported by one of the InvestingPro Tips, which highlights that CZNC has maintained dividend payments for an impressive 38 consecutive years. This track record may reinforce investor confidence in the company's stability and commitment to shareholder returns, despite the stock currently trading near its 52-week low.
For investors seeking a deeper analysis, InvestingPro offers comprehensive insights into CITIZENS & NORTHERN CORP's financial health and future prospects. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription and gain access to a total of 6 InvestingPro Tips for CZNC, including predictions by analysts that the company will be profitable this year and a confirmation of profitability over the last twelve months.
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