In a report released today, Matthew Schultheis from Boenning & Scattergood maintained a Buy rating on Citizens Financial Services Inc (CZFS). The company’s shares closed on Tuesday at $56, close to its 52-week high of $66.50.
Schultheis observed:
“We are attracted to Citizens’ longer-term balance sheet growth, EPS growth trajectory, and above-peer return metrics. We believe the Bull/Bear cases point to buying the shares at current levels, and our valuation methodology confirms this view. The stock currently trades at a discount to peers on 2019 P/E (10.0x vs. 11.6x) and a modest premium based on price- to-tangible book (1.7x vs. 1.6%). In our opinion, some premium is warranted given the overall outlook for tangible book build (11.6% CAGR from 2017 to 2020) and better-than-peer return metrics. It is possible the company could list its shares on NASDAQ, which would create the opportunity for inclusion in indices, driving demand for the shares from institutional investors.”
According to TipRanks.com, Schultheis is a 3-star analyst with an average return of 2.0% and a 46.4% success rate. Schultheis covers the Financial sector, focusing on stocks such as Orrstown Financial Services Inc, Fulton Financial Corp, and City Holding Company.
The word on The Street in general, suggests a Hold analyst consensus rating for Citizens Financial Services Inc.
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Based on Citizens Financial Services Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $4.52 million. In comparison, last year the company had a net profit of $2.6 million.
Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock.
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Citizens Financial Services, Inc. is a holding company, which through its subsidiary First Citizens National Bank provides community banking services. It offers personal banking, estate planning and administration, investment management, and retirement rollover. The company was founded on April 30, 1984 and is headquartered in Mansfield, PA.
