Citizens & Northern Corp (NASDAQ:CZNC)
CAPS Rating:
The Company provides a full range of banking and mortgage services to individual and corporate customers in Northcentral Pennsylvania and Southern New York State.
The Company provides a full range of banking and mortgage services to individual and corporate customers in Northcentral Pennsylvania and Southern New York State.
Recs
Not sure why this stock has been hammerred so badly. Has great tangible common equity, low non-performing loans, seems adequately reserved and a low percentage of commerical real estate. I believe the recent shelf filing could provide for acquistions opportunities but these folks don;t get alot a press coverage, What is clear is if you compare the chart to a similiar bank I follow FMER, you'll see a huge divergence that I think will ultimately be converge.
I thought so too, but the debt looks more concerning at a second glance. With only 9 million shares and 200 million of debt I imagine shareholders are getting spooked of a possible dilution coming. I think I made a mistake on the upthumb here.