Citizens & Northern Corp (CZNC) vs First Bank (FRBA)

Citizens & Northern Corp and First Bank are both Banks Regional companies. Citizens & Northern Corp and First Bank are of similar size ($457.0M and $435.4M). First Bank trades at the lower P/E: 10.3× against 17.4×. Citizens & Northern Corp grew revenue faster over the last twelve months: 19.0% against 2.77%. First Bank has the higher net margin (17.5% vs 13.2%) and the higher return on invested capital (9.34% vs 4.65%). Both pay a dividend; Citizens & Northern Corp yields more (6.04% vs 1.78%). Across the 20 metrics below, First Bank leads on 15 and Citizens & Northern Corp on 5.

Valuation

Metric CZNC FRBA Banks Regional median
P/E 17.42 10.35 12.15
P/S 2.39 1.82 2.37
P/B 1.32 0.98 1.21
Price to free cash flow 10.20 8.74 10.80
EV/EBITDA n/m n/m —
EV/Sales 2.77 1.51 2.27
Earnings yield 5.74% 9.66% 8.11%
Free cash flow yield 9.80% 11.44% 8.98%

Profitability

Metric CZNC FRBA Banks Regional median
Gross margin 74.65% 61.42% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 13.23% 17.45% 18.66%
Free cash flow margin 23.45% 20.80% 21.18%
Return on equity 7.99% 9.72% 10.64%
Return on assets 0.88% 1.05% 1.13%
Return on invested capital 4.65% 9.34% 8.33%

Growth

Metric CZNC FRBA Banks Regional median
Revenue growth (TTM) 19.01% 2.77% 6.61%
EPS growth (last fiscal year) (13.61%) 4.19% —
Revenue growth, 5-year CAGR 10.84% 20.80% 12.30%
Net income growth, 5-year CAGR 4.00% 17.55% 9.71%

Health

Metric CZNC FRBA Banks Regional median
Debt to equity 0.45 0.61 0.22
Current ratio 0.91 1.11 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric CZNC FRBA Banks Regional median
Dividend yield 6.04% 1.78% 3.75%
Payout ratio 0.53 0.14 0.27

Size

Metric CZNC FRBA Banks Regional median
Market cap 456.98m 435.42m 921.07m

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