Frank G. Pellegrino, a director at Citizens & Northern Corp (NASDAQ:CZNC), recently acquired additional shares of the company. According to a filing with the Securities and Exchange Commission, Pellegrino purchased 197 shares of common stock on November 8, 2024, at a price of $20.58 per share, amounting to a total transaction value of $4,054. This purchase was made under a pre-established trading plan that became effective on May 1, 2024. Following this transaction, Pellegrino holds a total of 39,947 shares in the company.
InvestingPro Insights
Frank G. Pellegrino's recent acquisition of Citizens & Northern Corp (NASDAQ:CZNC) shares aligns with several positive indicators highlighted by InvestingPro. The company's stock has shown significant momentum, with a 7.55% return over the last week and a 13.25% return over the past three months. This recent performance suggests growing investor confidence, which may have influenced Pellegrino's decision to increase his stake.
One of the most notable InvestingPro Tips is that Citizens & Northern Corp has maintained dividend payments for 38 consecutive years, demonstrating a strong commitment to shareholder returns. This is particularly relevant given the company's current attractive dividend yield of 5.46%, which could be a factor in Pellegrino's investment strategy.
Additionally, InvestingPro Data shows that CZNC is trading at a P/E ratio of 14.2, which is relatively modest and may indicate potential value for investors. The company's price-to-book ratio of 1.14 further supports this notion, suggesting the stock may be undervalued relative to its assets.
While the company has experienced a slight revenue decline of 4.27% in the last twelve months, it maintains a healthy operating income margin of 27.16%. This efficiency in operations, coupled with analysts' predictions of profitability for the current year, paints a picture of financial stability that could be appealing to directors like Pellegrino.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights on CZNC, with a total of 14 tips available to subscribers.
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