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    Citizens Financial Services (CZFS)

    Market Price (11/6/2026): $86.99 | Market Cap: $418.5 MilSector: Financials | Industry: Regional Banks

    Citizens Financial Services (CZFS)

    Market Price (11/6/2026): $86.99
    Market Cap: $418.5 Mil
    Sector: Financials
    Industry: Regional Banks

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 2.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.4%, FCF Yield is 9.5%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 32%

    Low stock price volatility
    Vol 12M is 33%

    Megatrend and thematic drivers
    Megatrends include Fintech & Digital Payments. Themes include Online Banking & & Lending, Digital Payments, and Wealth Management Technology.

    Trading close to highs
    Dist 52W High is -1.4%, Dist 3Y High is -1.4%

    Debt is significant
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 99%

    Key risks
    CZFS key risks include [1] a significant loan portfolio concentration (79.5%) in commercial, Show more.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 2.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.4%, FCF Yield is 9.5%
    1 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 32%
    2 Low stock price volatility
    Vol 12M is 33%
    3 Megatrend and thematic drivers
    Megatrends include Fintech & Digital Payments. Themes include Online Banking & & Lending, Digital Payments, and Wealth Management Technology.
    4 Trading close to highs
    Dist 52W High is -1.4%, Dist 3Y High is -1.4%
    5 Debt is significant
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 99%
    6 Key risks
    CZFS key risks include [1] a significant loan portfolio concentration (79.5%) in commercial, Show more.

    CZFS in ETFs

    Weight = CZFS's share of each fund

    VTI0.00%
    IWM0.01%
    IWN0.03%
    AVUV0.02%
    VTWO0.01%
    SCHA0.01%
    IWO0.00%
    DFAS0.00%
    +3 more covered ETFs

    Valuation & Metrics

    FYE: 12/31CZFS [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$120.7 Mil—
    FY 2026 Sales$121.8 Mil—
    FY 2027 Sales$126.0 Mil—
    FY 2026 Sales Growth0.9%—
    FY 2027 Sales Growth3.4%8.7%
    EARNINGS
    LTM Net Income (GAAP) [3]$43.0 Mil—
    FY 2026 Net Income (Non-GAAP)$41.8 Mil—
    FY 2027 Net Income (Non-GAAP)$42.3 Mil—
    FY 2027 Net Income Growth1.3%13.9%
    FY 2026 EPS (Non-GAAP)$8.70—
    FY 2027 EPS (Non-GAAP)$8.81—
    FY 2027 EPS Growth1.3%—
    VALUATION
    FY 2026 P/S3.41.7
    FY 2027 P/S3.3—
    FY 2026 P/E10.08.7
    FY 2027 P/E9.9—

    [1] CZFS forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 11/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    CZFSS&P 500
    REVENUE GROWTHGOOD
    Rev LTM ($ Bil)0.1
    Rev Chg Q8.9%8.9%
    Rev Chg LTM10.8%8.6%
    Rev Chg 3Y Avg11.1%6.3%
    PROFITABILITYVERY GOOD
    Op Inc LTM ($ Bil)�
    CFO LTM ($ Bil)0.0
    Net Inc LTM ($ Bil)0.0
    CFO/Rev LTM33.1%21.5%
    Net Inc Mgn35.6%13.5%
    VALUATIONLOW
    P/S3.53.3
    P/CFO10.515.7
    P/FCF10.720.6
    P/E9.722.9

    AI Analysis | Feedback

    MetricValueDateSource
    Number of Employees3846302025Link
    Number of Branches4310302025Link
    Number of ATMs2910302025Link
    Loan to Deposit Ratio96.86%9302025Link
    Number of Shareholdersnearly 1,85010302025Link

    Price Chart

    Upcoming
    2/04/2027Earnings ReleaseRev: $31 Mil (E)
    EPS: $2.24 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 11/1/2026

    Citizens Financial Services (CZFS) stock has gained about 10% since 7/31/2026 because of the following key factors:

    1. Exceptional Fiscal Q3 2026 Earnings Performance.

    Citizens Financial Services (CZFS) reported unaudited basic earnings per share of $2.48 for fiscal Q3 2026 (ended September 30, 2026), significantly surpassing the consensus estimate of $2.20 per share, an earnings surprise of 12.73%. This strong beat was accompanied by revenue of $31.57 million, exceeding the $31 million estimate by $570,000.

    2. Robust Net Income and Loan Portfolio Expansion.

    The company achieved a substantial 19.2% year-over-year increase in net income for fiscal Q3 2026, reaching $11.9 million compared to $10.0 million in the comparable period of 2025. This growth was primarily fueled by an 8.4% rise in net interest income to $27.3 million and a 6.8% increase in total loans, amounting to $152.8 million since September 30, 2025.

    Show more
    Updated on 11/1/2026

    Citizens Financial Services (CZFS) stock has gained about 10% since 7/31/2026 because of the following key factors:

    1. Exceptional Fiscal Q3 2026 Earnings Performance.

    Citizens Financial Services (CZFS) reported unaudited basic earnings per share of $2.48 for fiscal Q3 2026 (ended September 30, 2026), significantly surpassing the consensus estimate of $2.20 per share, an earnings surprise of 12.73%. This strong beat was accompanied by revenue of $31.57 million, exceeding the $31 million estimate by $570,000.

    2. Robust Net Income and Loan Portfolio Expansion.

    The company achieved a substantial 19.2% year-over-year increase in net income for fiscal Q3 2026, reaching $11.9 million compared to $10.0 million in the comparable period of 2025. This growth was primarily fueled by an 8.4% rise in net interest income to $27.3 million and a 6.8% increase in total loans, amounting to $152.8 million since September 30, 2025.

    3. Enhanced Profitability Metrics and Dividend Increase.

    CZFS demonstrated improved operational efficiency, with annualized return on equity (ROE) for fiscal Q3 2026 rising to 13.39% from 12.52% in Q3 2025, and annualized return on assets (ROA) increasing to 1.45% from 1.33% over the same period. The company also recently raised its quarterly dividend to $0.50 per share, signaling confidence in its financial health.

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    Stock Movement Drivers

    Fundamental Drivers

    The 11.7% change in CZFS stock from 7/31/2026 to 11/5/2026 was primarily driven by a 4.8% change in the company's Net Income Margin (%).
    (LTM values as of)731202611052026Change
    Stock Price ($)77.0486.0411.7%
    Change Contribution By: 
    Total Revenues ($ Mil)1161214.3%
    Net Income Margin (%)34.0%35.6%4.8%
    P/E Multiple9.49.62.3%
    Shares Outstanding (Mil)55-0.1%
    Cumulative Contribution11.7%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2026 to 11/5/2026
    ReturnCorrelation
    CZFS11.7% 
    Market (SPY)-1.9%18.8%
    Sector (XLF)1.0%43.0%

    Fundamental Drivers

    The 38.1% change in CZFS stock from 4/30/2026 to 11/5/2026 was primarily driven by a 17.6% change in the company's P/E Multiple.
    (LTM values as of)430202611052026Change
    Stock Price ($)62.3086.0438.1%
    Change Contribution By: 
    Total Revenues ($ Mil)1121217.4%
    Net Income Margin (%)32.6%35.6%9.4%
    P/E Multiple8.29.617.6%
    Shares Outstanding (Mil)55-0.1%
    Cumulative Contribution38.1%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    4/30/2026 to 11/5/2026
    ReturnCorrelation
    CZFS38.1% 
    Market (SPY)2.3%2.8%
    Sector (XLF)10.7%35.1%

    Fundamental Drivers

    The 61.8% change in CZFS stock from 10/31/2025 to 11/5/2026 was primarily driven by a 19.1% change in the company's P/E Multiple.
    (LTM values as of)1031202511052026Change
    Stock Price ($)53.1686.0461.8%
    Change Contribution By: 
    Total Revenues ($ Mil)10512114.9%
    Net Income Margin (%)30.1%35.6%18.3%
    P/E Multiple8.19.619.1%
    Shares Outstanding (Mil)55-0.1%
    Cumulative Contribution61.8%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    10/31/2025 to 11/5/2026
    ReturnCorrelation
    CZFS61.8% 
    Market (SPY)8.4%6.0%
    Sector (XLF)11.1%36.2%

    Fundamental Drivers

    The 92.6% change in CZFS stock from 10/31/2023 to 11/5/2026 was primarily driven by a 64.1% change in the company's Net Income Margin (%).
    (LTM values as of)1031202311052026Change
    Stock Price ($)44.6786.0492.6%
    Change Contribution By: 
    Total Revenues ($ Mil)8412144.4%
    Net Income Margin (%)21.7%35.6%64.1%
    P/E Multiple10.39.6-7.1%
    Shares Outstanding (Mil)45-12.5%
    Cumulative Contribution92.6%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    10/31/2023 to 11/5/2026
    ReturnCorrelation
    CZFS92.6% 
    Market (SPY)81.3%29.4%
    Sector (XLF)85.5%44.4%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    CZFS Return0%61%-13%2%-7%54%104%
    Peers Return21%-38%-12%-30%-16%-12%-66%
    S&P 500 Return27%-19%24%23%16%12%105%

    Monthly Win Rates [3]
    CZFS Win Rate0%42%58%58%42%82% 
    Peers Win Rate60%50%50%33%56%59% 
    S&P 500 Win Rate75%42%67%75%67%45% 

    Max Drawdowns [4]
    CZFS Max Drawdown0%-22%-51%-37%-19%-14% 
    Peers Max Drawdown-24%-46%-55%-43%-43%-46% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: NEWT, ATLO, GBC, NARA, SHFS.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 11/5/2026 (YTD)

    How Low Can It Go

    EventCZFSS&P 500
    2025 US Tariff Shock
      % Loss-14.4%-18.8%
      % Gain to Breakeven16.8%23.1%
      Time to Breakeven35 days79 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-33.1%-9.5%
      % Gain to Breakeven49.4%10.5%
      Time to Breakeven380 days24 days
    2023 SVB Regional Banking Crisis
      % Loss-19.0%-6.7%
      % Gain to Breakeven23.5%7.1%
      Time to Breakeven1114 days31 days
    2020 COVID-19 Crash
      % Loss-36.6%-33.7%
      % Gain to Breakeven57.7%50.9%
      Time to Breakeven801 days140 days
    2011 US Debt Ceiling Crisis & European Contagion
      % Loss-11.5%-17.9%
      % Gain to Breakeven13.0%21.8%
      Time to Breakeven192 days123 days
    2008-2009 Global Financial Crisis
      % Loss-12.0%-53.4%
      % Gain to Breakeven13.6%114.4%
      Time to Breakeven18 days1085 days

    Compare to NEWT, ATLO, CLBK, GCBC, MBBC

    In The Past

    Citizens Financial Services's stock fell -14.4% during the 2025 US Tariff Shock. Such a loss loss requires a 16.8% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventCZFSS&P 500
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-33.1%-9.5%
      % Gain to Breakeven49.4%10.5%
      Time to Breakeven380 days24 days
    2020 COVID-19 Crash
      % Loss-36.6%-33.7%
      % Gain to Breakeven57.7%50.9%
      Time to Breakeven801 days140 days

    Compare to NEWT, ATLO, CLBK, GCBC, MBBC

    In The Past

    Citizens Financial Services's stock fell -14.4% during the 2025 US Tariff Shock. Such a loss loss requires a 16.8% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Citizens Financial Services (CZFS)

    Citizens Financial Services, Inc. (CZFS) operates as a bank holding company, primarily through its subsidiary, First Citizens Community Bank. The company provides a comprehensive array of banking and financial services designed for a broad customer base, including individuals, businesses, governmental bodies, and institutional clients.

    The company's core offerings encompass traditional banking products such as checking, savings, and various time deposit accounts. Its loan portfolio is diverse, featuring residential, commercial, and agricultural real estate loans, alongside commercial and industrial loans, state and political subdivision loans, and consumer loans. Beyond these, CZFS extends its services to include professional trust administration, investment management, estate planning, individual retirement accounts, and custody of securities. The company also offers brokerage and financial planning services, assists with oil and gas leasing matters, and provides mutual funds, annuities, and health and life insurance products.

    Citizens Financial Services maintains a robust regional presence, operating thirty full-service banking branches across ten counties in Pennsylvania, Allegany County in New York, and in Wilmington and Dover, Delaware. This network also includes a limited branch office in Union County, Pennsylvania, positioning CZFS as a community-focused financial institution serving a defined geographic market in the Mid-Atlantic.

    AI Analysis | Feedback

    1. A community-focused, full-service bank like a highly localized **PNC Bank** or **M&T Bank**, serving specific regions of Pennsylvania and nearby states.
    2. The quintessential 'main street' bank for its operating regions, offering a comprehensive suite of financial services much like a smaller, localized **TD Bank**.

    AI Analysis | Feedback

    • Deposit Accounts: Offers various accounts such as checking, savings, and time deposits for individuals, businesses, and governmental customers.
    • Real Estate Loans: Provides financing for residential, commercial, and agricultural real estate properties.
    • Commercial & Industrial Loans: Extends loans to support businesses and industrial operations.
    • Consumer Loans: Offers personal loans to individuals for various needs.
    • State & Political Subdivision Loans: Provides loans specifically to state and local government entities.
    • Trust & Investment Management: Delivers professional trust administration, investment management, estate planning, and custody of securities services.
    • Brokerage & Financial Planning: Offers brokerage services, financial planning, and assistance with oil and gas leasing matters.
    • Insurance & Annuities: Provides access to mutual funds, annuities, and various health and life insurance products.

    AI Analysis | Feedback

    Citizens Financial Services, Inc. (CZFS), operating as a bank holding company for First Citizens Community Bank, serves a diverse customer base rather than having a few major named customers. Its primary customer segments can be categorized as:

    • Individual Customers: This category includes individuals utilizing a wide range of personal banking products and services, such as checking and savings accounts, time deposits, residential and consumer loans, investment management, trust administration, estate planning, brokerage services, and insurance products.
    • Business Customers: Comprising commercial enterprises, this segment receives services like commercial real estate loans, commercial and industrial loans, and various specialized financial services to support their operations and growth. These are typically local and regional businesses within the bank's operational footprint.
    • Governmental and Institutional Customers: This group includes state and political subdivisions that secure loans, as well as other institutional clients seeking banking and financial services.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    Randall E. Black
    Chief Executive Officer and President
    Randall E. Black has served as the President and Chief Executive Officer of Citizens Financial Services, Inc. and its subsidiary, First Citizens Community Bank, since April 2004. He began his career with First Citizens in 1993, holding positions as controller, senior vice president of finance, and chief financial officer before becoming CEO. Prior to joining First Citizens, Mr. Black was employed by Parente, Randolph, Orlando, Carey & Associates, where he focused on providing accounting services for various industries, including banking. Under his leadership, the bank's assets have grown significantly from $499 million to $2.89 billion, and its number of offices expanded from 15 to 43. He holds a Master of Banking degree from the Graduate School of Banking at Louisiana State University and a Bachelor of Science in Accounting from Bloomsburg University of Pennsylvania. Mr. Black also serves on the Board of Trustees of Pennsylvania State University, is a Class A Director of the Federal Reserve Bank of Philadelphia, and a director of the Pennsylvania Bankers Association. He possesses over 40 years of practical experience in farming, specializing in dairy cattle.

    Stephen J. Guillaume
    Executive Vice President and Chief Financial Officer
    Stephen J. Guillaume is the Executive Vice President and Chief Financial Officer of Citizens Financial Services, Inc. and First Citizens Community Bank. He was appointed CFO in 2019 and was elevated to Executive Vice President and CFO in 2023. Before his role as CFO, he served as Vice President of Finance for First Citizens Community Bank from April 2013 to November 2019, where he was instrumental in establishing the finance function and reporting platform. Mr. Guillaume is the first cousin of CEO Randall E. Black. He is also a Board Member of First Citizens Insurance Agency, Inc., a subsidiary of CZFS, since 2021, and has overseen acquisition integration processes.

    Mickey Jones
    Treasurer
    Mickey Jones has served as the Treasurer for Citizens Financial Services, Inc. since May 2004.

    Gina Marie Boor
    Chief Administrative Officer
    Gina Marie Boor holds the position of Chief Administrative Officer at Citizens Financial Services, Inc.

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    Key Business Risks for Citizens Financial Services (CZFS)

    For Citizens Financial Services, Inc. (symbol: CZFS), the primary risks to its business are largely inherent to the banking sector, particularly for a regional community bank with specific loan concentrations. These key risks include credit risk, interest rate risk, and regulatory risk.

    1. Credit Risk: As a bank holding company for First Citizens Community Bank, Citizens Financial Services is fundamentally exposed to the risk that borrowers will default on their loan obligations. The company offers a diverse portfolio of loans, including residential, commercial, agricultural real estate, commercial and industrial, state and political subdivision, and consumer loans. Its loan book has concentrations in commercial real estate and agricultural real estate, as well as exposure to natural gas activity in the Marcellus and Utica Shales. A deterioration in economic conditions, either regionally in its operating areas across Pennsylvania, New York, and Delaware, or nationally, could lead to increased loan losses, negatively impacting the bank's asset quality and profitability. Concerns have also been highlighted regarding the allowance for bad loans relative to non-performing loans, suggesting a potential gap in loss coverage that could affect balance sheet strength.
    2. Interest Rate Risk: Citizens Financial Services is susceptible to fluctuations in market interest rates. Changes in interest rates can significantly affect the bank's net interest margin, which is the difference between the interest earned on its assets (like loans and investments) and the interest paid on its liabilities (like deposits). If the bank cannot effectively manage the repricing of its assets and liabilities in a changing rate environment, its profitability could be reduced.
    3. Regulatory Risk: As a financial institution, Citizens Financial Services operates in a heavily regulated environment. The company's filings outline extensive regulatory risks. Changes in banking laws, regulations, or accounting standards, or a failure to comply with existing or new regulations, could lead to increased compliance costs, limit the scope of its operations, or result in penalties, all of which could materially adversely affect its business, financial condition, and results of operations. The company operates under the community bank leverage ratio framework and must maintain certain capital levels to be considered "well-capitalized".

    AI Analysis | Feedback

    The rise of digital-first financial service providers, including neobanks, online lenders, and robo-advisors, presents a clear emerging threat. These companies leverage technology to offer competitive banking, lending, and investment management services with enhanced digital experiences and often lower fees, directly challenging Citizens Financial Services' traditional branch-based model for deposit gathering, various loan products, and wealth management services.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    Citizens Financial Services (NASDAQ: CZFS) is expected to drive future revenue growth over the next 2-3 years through a combination of net interest income growth, strategic expansion, and overall balance sheet expansion.

    Here are 3-5 expected drivers of future revenue growth:

    1. Net Interest Income Growth through Margin Expansion and Loan Portfolio Management: Citizens Financial Services has demonstrated a focus on increasing its net interest income. Net interest income before the provision for credit losses increased by 13.4% to $98.0 million for 2025. Additionally, the net interest margin expanded to 3.50% in 2025, up from 3.13% in 2024. The company's investment strategy in 2024 involved using cash flows to fund loan growth, with loan interest income increasing by $26,594,000 from 2023 to 2024. This indicates a continued emphasis on optimizing its loan portfolio and the spread between interest earned on assets and paid on liabilities.
    2. Strategic Expansion and Organic Growth within Existing Markets: The company's forward-looking statements note the implementation of "strategic initiatives, including expansions, designed to increase revenues." While specific new markets were not detailed, this suggests a strategy of expanding its presence and customer base within or adjacent to its current operating footprint across Pennsylvania, New York, and Delaware, leveraging its existing branch network.
    3. Overall Balance Sheet Expansion Leading to Increased Earning Assets: Citizens Financial Services has consistently expanded its balance sheet. Total assets reached $3.1 billion at the end of 2025, representing a 1.3% increase of $38.8 million. This consistent growth in total assets reflects a strategy of increasing the overall size of the bank's earning assets, such as loans and investments, which are fundamental drivers of revenue for a financial institution.

    AI Analysis | Feedback

    Share Repurchases

    • Citizens Financial Services, Inc. authorized a new stock repurchase program on February 18, 2026, permitting the repurchase of up to 200,000 shares of common stock for an aggregate price not exceeding $15 million. This program is scheduled to run from April 22, 2026, through April 22, 2029, and will be funded using cash on hand.
    • In the fourth quarter of 2025, the company repurchased 3,065 shares at an average price of $55.85.

    Share Issuance

    • As part of the acquisition of HV Bancorp, Inc., completed on June 16, 2023, shareholders of HVBC had the right to elect to receive Citizens Financial Services common stock (for 80% of shares) or cash (for 20% of shares) as consideration.
    • In 2025, the company reported an issuance of common shares amounting to USD 16.0 thousand.
    • On April 17, 2020, outside the 3-5 year window but a significant event, Citizens issued 373,356 shares of common stock as consideration for the acquisition of MidCoast Community Bancorp, Inc.

    Outbound Investments

    • On June 16, 2023, Citizens Financial Services, Inc. completed the acquisition of HV Bancorp, Inc. and its subsidiary, Huntingdon Valley Bank. The merger agreement was initially announced on October 18, 2022, with an aggregate consideration of approximately $67.4 million for HVBC shareholders.
    • On April 17, 2020, slightly outside the specified timeframe, Citizens Financial Services, Inc. finalized the acquisition of MidCoast Community Bancorp, Inc. The acquisition involved the issuance of 373,356 shares of common stock and had an approximate value of $57 million.

    Capital Expenditures

    • In the third quarter of 2025, Citizens Financial Services invested $145,000 in capital expenditures.

    Peer Outperformance in Regional Banks

    CZFS has outperformed 87% of its 262 Regional Banks peers over 5Y. Regional Banks ranks 8th of 18 industries in Financials by median 5Y return.
    Share of Regional Banks constituents that CZFS has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    91%
    of 281 industry peers · 57.3% return
    3Y
    41%
    of 273 industry peers · 76.5% return
    5Y
    87%
    of 262 industry peers · 103.8% return
    No Regional Banks peer with a comparable growth profile has beaten CZFS by more than 20pp over 5Y.
    Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is CZFS's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Reinsurance 6 33.1%75.7%125.1% SPNT 168% · RGA 162% · RNR 141%
    Investment Banking & Brokerage 13 -3.9%89.1%93.1% IBKR 305% · SNEX 152% · GS 141%
    Diversified Banks 12 30.0%140.4%90.3% CM 144% · RY 129% · JPM 127%
    Life & Health Insurance 20 14.3%52.3%75.4% JXN 514% · UNM 224% · FG 188%
    Property & Casualty Insurance 42 18.9%76.8%66.8% TRV 178% · PGR 172% · ACGL 168%
    Multi-Sector Holdings 3 10.1%53.8%59.4% BRK-B 99% · VOYA 59% · JEF 37%
    Multi-line Insurance 9 9.5%71.4%59.4% AIZ 105% · GNW 104% · L 98%
    Regional Banks ← 263 30.0%87.5%46.7% CBC 268% · FCNCA 176% · NIC 136%
    Insurance Brokers 15 5.5%13.4%33.4% LIFE 287% · ARX 89% · WTW 56%
    Financial Exchanges & Data 15 20.6%37.2%27.9% CBOE 183% · VIRT 131% · CME 71%
    Asset Management & Custody Banks 83 -5.9%22.8%12.3% VCTR 210% · AAMI 207% · WT 205%
    Consumer Finance 30 2.9%81.0%8.1% ENVA 330% · FCFS 130% · ECPG 111%
    Commercial & Residential Mortgage Finance 14 -46.5%36.8%2.5% FNMA 327% · FMCC 293% · ACT 158%
    Diversified Financial Services 4 -1.6%20.1%-1.1% FRHC 153% · EQH 71%
    Specialized Finance 3 15.8%31.5%-19.7% HASI -20% · CACC -24%
    Transaction & Payment Processing Services 17 19.3%9.1%-29.4% V 103% · MA 94% · CPAY 83%
    Mortgage REITs 35 -18.0%-6.1%-37.2% RITM 36% · DX 17% · AGNC 10%
    Diversified Capital Markets 20 -47.1%-8.5%-70.1% LPLA 83% · TW 38% · RIOT -53%
    Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

    Latest Trefis Analyses

    Title
    0ARTICLES

    Recent Active Movers

    Top Gainers

    TickerCompanyMkt Cap (B)1W RtnYTD Rtn
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    Top Losers

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    FRMIFermi1.0-46.5%-80.9%
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    AESIAtlas Energy Solutions0.7-42.5%-43.5%

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    TickerCompanyMkt Cap (B)1M RtnYTD Rtn
    BMBLBumble0.8139.2%67.5%
    GDYNGrid Dynamics1.176.5%49.9%
    ULHUniversal Logistics0.872.3%97.6%
    TDOCTeladoc Health1.769.2%34.4%
    SGRYSurgery Partners3.069.0%50.0%
    LQDALiquidia4.066.8%29.0%
    ENOVEnovis1.662.5%7.4%
    BRZEBraze5.161.0%33.6%
    UPBDUpbound1.559.3%51.6%
    COAGHemab Therapeutics1.458.8%34.0%

    Top Losers

    TickerCompanyMkt Cap (B)1M RtnYTD Rtn
    CIFRCipher Digital2.3-61.9%-62.4%
    AAOIApplied Optoelectronics3.8-61.7%34.5%
    FRMIFermi1.0-61.5%-80.9%
    MXLMaxLinear4.0-58.7%154.2%
    AESIAtlas Energy Solutions0.7-57.3%-43.5%
    FPSForgent Power Solutions4.7-55.2%-37.2%
    STRLSterling Infrastructure7.5-54.3%-20.2%
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    AXTIAXT2.2-54.0%124.6%
    ICHRIchor1.0-54.0%52.1%

    More From Trefis

    Research & Analysis

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    Wealth Management

    Peer Comparisons

    Peers to compare with:

    Financials

    CZFSNEWTATLOGBCNARASHFSMedian
    NameCitizens.NewtekOneAmes Nat.Georgia .Narragan.SHF  
    Mkt Price86.9910.6034.0033.7710.860.0422.32
    Mkt Cap0.40.30.3---0.3
    Rev LTM12127773-130-125
    Op Inc LTM-------
    FCF LTM39-74021-7-14
    FCF 3Y Avg35-37317---17
    CFO LTM40-73922-11-17
    CFO 3Y Avg36-37319---19

    Growth & Margins

    CZFSNEWTATLOGBCNARASHFSMedian
    NameCitizens.NewtekOneAmes Nat.Georgia .Narragan.SHF  
    Rev Chg LTM10.8%7.8%21.3%---10.8%
    Rev Chg 3Y Avg11.1%26.8%8.1%---11.1%
    Rev Chg Q8.9%7.0%18.5%---8.9%
    QoQ Delta Rev Chg LTM2.2%1.7%4.3%---2.2%
    Op Inc Chg LTM-------
    Op Inc Chg 3Y Avg-------
    Op Mgn LTM-------
    Op Mgn 3Y Avg-------
    QoQ Delta Op Mgn LTM-------
    CFO/Rev LTM33.1%-267.4%30.3%-8.5%-19.4%
    CFO/Rev 3Y Avg33.3%-138.6%30.2%---30.2%
    FCF/Rev LTM32.5%-267.5%28.9%-5.5%-17.2%
    FCF/Rev 3Y Avg32.2%-138.7%27.9%---27.9%

    Valuation

    CZFSNEWTATLOGBCNARASHFSMedian
    NameCitizens.NewtekOneAmes Nat.Georgia .Narragan.SHF  
    Mkt Cap0.40.30.3---0.3
    P/S3.51.14.2---3.5
    P/Op Inc-------
    P/EBIT-------
    P/E9.74.613.1---9.7
    P/CFO10.5-0.413.7---10.5
    Total Yield12.8%31.6%10.2%---12.8%
    Dividend Yield2.4%10.0%2.6%---2.6%
    FCF Yield 3Y Avg11.2%-103.1%8.5%---8.5%
    D/E1.21.80.1---1.2
    Net D/E1.00.6-1.6---0.6

    Returns

    CZFSNEWTATLOGBCNARASHFSMedian
    NameCitizens.NewtekOneAmes Nat.Georgia .Narragan.SHF  
    1M Rtn9.2%-5.3%5.4%-11.8%0.6%-94.9%-2.4%
    3M Rtn6.4%-27.9%9.0%-11.8%0.6%-98.3%-5.6%
    6M Rtn33.8%-20.1%20.8%-11.8%0.6%-99.4%-5.6%
    12M Rtn59.0%7.5%64.7%-11.8%0.6%-99.9%4.0%
    3Y Rtn78.4%-15.6%114.9%-11.8%0.6%-100.0%-5.6%
    1M Excs Rtn11.7%-1.7%8.1%-10.3%2.0%-92.3%0.2%
    3M Excs Rtn9.8%-19.4%10.5%-10.9%1.4%-97.1%-4.7%
    6M Excs Rtn29.0%-24.8%16.0%-16.6%-4.2%-105.8%-10.4%
    12M Excs Rtn48.5%-5.9%55.1%-25.3%-13.0%-118.1%-9.4%
    3Y Excs Rtn10.5%-90.5%42.6%-95.2%-82.7%-212.1%-86.6%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q4
    Period End9/30/20266/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/2023
    Filing Date11/5/20268/6/20265/7/20263/12/202611/6/20258/7/20255/8/20253/6/202511/7/20248/8/20245/9/20243/7/2024
    Key Financials Quarterly            
    Total Revenue323030302927262625252525
    Net Income12101010108888578
    EPS2.482.122.162.192.091.761.591.661.571.101.471.57
    Key Financials TTM            
    Total Revenue TTM1211181161121091051021011001019692
    Net Income TTM434139373432282827271818
    Growth Rates Quarterly            
    Total Revenue Growth8.9%8.8%12.8%13.0%15.6%10.9%6.5%3.4%-3.8%22.0%22.6%17.3%
    Net Income Growth19.2%20.4%36.2%31.3%32.8%60.4%8.5%5.9%-0.2%227.3%2.3%-4.3%
    Margins Quarterly            
    Net Income Margin37.8%34.3%34.8%35.4%34.5%31.0%28.8%30.5%30.0%21.4%28.3%29.8%
    Cash & Debt            
    Total Cash1041771347410811785472460445438474
    Total Debt512394199294280313302280232335284284
    Net Debt / (Cash)40921765220172196217-192-228-110-155-190
    Cash Flows Quarterly            
    FCF from Operations5-01817361110631316
    Cash Flows TTM            
    FCF from Operations TTM403844373034313339403027
    Returns to Shareholders Quarterly            
    Dividends222222222222
    Share Repurchases000000000000
    Return on Invested Capital (ROIC) Quarterly            
    ROIC9.5%12.6%24.4%12.8%14.4%11.4%9.7%-----
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM8.5%12.7%23.1%11.2%12.3%10.7%9.1%-----

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Community Banking1741701398278
    Total1741701398278


    Net Income by Segment
    $ Mil2025202420232022
    Community Banking37281829
    Total37281829


    Price Behavior

    Price Behavior
    Market Price$86.04 
    Market Cap ($ Bil)0.4 
    First Trading Date12/29/2006 
    Distance from 52W High-1.4% 
       50 Days200 Days
    DMA Price$81.42$70.50
    DMA Trendupup
    Distance from DMA5.7%22.1%
     3M1YR
    Volatility21.9%33.0%
    Downside Capture-32.410.83
    Upside Capture20.8258.23
    Correlation (S&P 500)1.5%6.3%
    CZFS Betas & Captures as of 10/31/2026

     1M2M3M6M1Y3Y
    Beta-0.46-0.080.25-0.070.100.86
    Up Beta-1.36-1.231.46-0.19-0.030.94
    Down Beta-0.40-0.46-0.42-0.54-0.320.86
    Up Capture27%43%33%49%46%59%
    Bmk +ve Days12182862130427
    Stock +ve Days14253571135381
    Down Capture-103%-14%-26%-45%-3%91%
    Bmk -ve Days10253664121325
    Stock -ve Days8182954114366

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with CZFS
    CZFS60.8%33.0%1.46-
    Sector ETF (XLF)11.1%15.2%0.4736.1%
    Equity (SPY)9.5%13.6%0.416.6%
    Gold (GLD)3.6%28.7%0.11-10.8%
    Commodities (DBC)37.7%21.2%1.40-23.2%
    Real Estate (VNQ)12.0%14.2%0.5528.6%
    Bitcoin (BTCUSD)-20.8%43.3%-0.421.5%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with CZFS
    CZFS8.9%42.3%0.35-
    Sector ETF (XLF)9.1%18.4%0.3638.3%
    Equity (SPY)11.3%17.3%0.4826.2%
    Gold (GLD)17.5%19.1%0.740.6%
    Commodities (DBC)8.0%19.6%0.290.3%
    Real Estate (VNQ)1.2%18.9%-0.0529.3%
    Bitcoin (BTCUSD)5.9%51.5%0.2914.4%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with CZFS
    CZFS4.8%41.8%0.35-
    Sector ETF (XLF)13.3%22.1%0.5430.8%
    Equity (SPY)14.9%18.0%0.7022.7%
    Gold (GLD)12.0%16.5%0.59-0.6%
    Commodities (DBC)7.6%18.1%0.331.0%
    Real Estate (VNQ)5.7%20.7%0.2326.4%
    Bitcoin (BTCUSD)61.3%66.2%1.0113.1%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date10152026
    Short Interest: Shares Quantity0.1 Mil
    Short Interest: % Change Since 93020262.0%
    Average Daily Volume0.0 Mil
    Days-to-Cover Short Interest2.2 days
    Basic Shares Quantity4.8 Mil
    Short % of Basic Shares1.5%

    Returns Analyses

    Earnings Returns History

    Updated 11/4/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    10/30/20260.5%  
    7/30/2026-1.1%6.2%5.0%
    4/29/2026-3.4%-6.1%-1.7%
    1/29/20262.3%8.0%-1.8%
    10/30/20251.2%5.2%2.0%
    7/30/20250.4%-2.0%13.1%
    4/30/2025-1.0%5.0%15.1%
    1/30/2025-2.3%2.3%-7.4%
    ...
    SUMMARY STATS   
    # Positive131715
    # Negative1168
    Median Positive0.4%5.0%5.0%
    Median Negative-1.7%-5.8%-5.2%
    Max Positive2.3%19.3%28.4%
    Max Negative-5.1%-17.9%-23.4%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    10/30/20260.5%  
    7/30/2026-1.1%6.2%5.0%
    4/29/2026-3.4%-6.1%-1.7%
    1/29/20262.3%8.0%-1.8%
    10/30/20251.2%5.2%2.0%
    7/30/20250.4%-2.0%13.1%
    4/30/2025-1.0%5.0%15.1%
    1/30/2025-2.3%2.3%-7.4%
    10/30/2024-3.3%19.3%17.2%
    7/30/2024-1.3%-17.9%-3.0%
    4/25/2024-5.1%1.0%-0.5%
    1/30/2024-4.0%-12.8%-23.4%
    10/23/2023-1.7%5.0%28.4%
    7/31/2023-0.4%-5.5%-21.5%
    4/27/2023-1.7%-2.5%-12.1%
    1/30/20232.3%9.1%9.3%
    10/24/20220.9%6.2%8.9%
    7/21/20221.6%9.9%14.0%
    4/20/20220.0%0.0%0.0%
    1/21/20220.0%0.0%0.0%
    10/22/20210.0%0.0%0.0%
    7/23/20210.0%0.0%0.0%
    4/23/20210.0%0.0%0.0%
    1/25/20210.0%0.0%0.0%
    SUMMARY STATS   
    # Positive131715
    # Negative1168
    Median Positive0.4%5.0%5.0%
    Median Negative-1.7%-5.8%-5.2%
    Max Positive2.3%19.3%28.4%
    Max Negative-5.1%-17.9%-23.4%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    09/30/202611/05/202610-Q
    06/30/202608/06/202610-Q
    03/31/202605/07/202610-Q
    12/31/202503/12/202610-K
    09/30/202511/06/202510-Q
    06/30/202508/07/202510-Q
    03/31/202505/08/202510-Q
    12/31/202403/06/202510-K
    09/30/202411/07/202410-Q
    06/30/202408/08/202410-Q
    03/31/202405/09/202410-Q
    12/31/202303/07/202410-K
    09/30/202311/08/202310-Q
    06/30/202308/09/202310-Q
    03/31/202305/10/202310-Q
    12/31/202203/09/202310-K
     Collapse to Preview
    Report DateFiling DateFiling
    09/30/202611/05/202610-Q
    06/30/202608/06/202610-Q
    03/31/202605/07/202610-Q
    12/31/202503/12/202610-K
    09/30/202511/06/202510-Q
    06/30/202508/07/202510-Q
    03/31/202505/08/202510-Q
    12/31/202403/06/202510-K
    09/30/202411/07/202410-Q
    06/30/202408/08/202410-Q
    03/31/202405/09/202410-Q
    12/31/202303/07/202410-K
    09/30/202311/08/202310-Q
    06/30/202308/09/202310-Q
    03/31/202305/10/202310-Q
    12/31/202203/09/202310-K
    09/30/202211/08/202210-Q
    06/30/202208/08/202210-Q
    03/31/202205/09/202210-Q
    12/31/202103/10/202210-K
    09/30/202111/04/202110-Q
    06/30/202108/05/202110-Q
    03/31/202105/06/202110-Q
    12/31/202003/11/202110-K
    09/30/202011/05/202010-Q
    06/30/202008/06/202010-Q
    03/31/202005/07/202010-Q
    12/31/201903/12/202010-K

    Insider Activity

    Updated 9/22/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Guillaume, Stephen JSENIOR VICE PRESIDENTDirectBuy901202676.32241,832388,741Form
    2Painter, John P II DirectBuy805202680.5216012,883315,703Form
    3Gephart, LeeannEXECUTIVE VICE PRESIDENTDirectSell709202671.52151,07367,658Form
    4Gephart, LeeannEXECUTIVE VICE PRESIDENTDirectSell625202666.52291,92953,748Form
    5Guillaume, Stephen JSENIOR VICE PRESIDENTDirectBuy602202661.78342,101291,500Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Guillaume, Stephen JSENIOR VICE PRESIDENTDirectBuy901202676.32241,832388,741Form
    2Painter, John P II DirectBuy805202680.5216012,883315,703Form
    3Gephart, LeeannEXECUTIVE VICE PRESIDENTDirectSell709202671.52151,07367,658Form
    4Gephart, LeeannEXECUTIVE VICE PRESIDENTDirectSell625202666.52291,92953,748Form
    5Guillaume, Stephen JSENIOR VICE PRESIDENTDirectBuy602202661.78342,101291,500Form
    6Gephart, LeeannEXECUTIVE VICE PRESIDENTDirectSell528202664.78241,55554,221Form
    7Painter, John P II DirectBuy512202663.671408,914233,158Form
    8Painter, John P II DirectBuy306202661.0067541,175208,133Form
    9Guillaume, Stephen JSENIOR VICE PRESIDENTDirectBuy302202657.0613742265,648Form
    10Guillaume, Stephen JSENIOR VICE PRESIDENTDirectBuy1201202553.1016850242,654Form
    11Black, Randall ECEO & PRESIDENTDirectBuy1105202554.25221,1942,388,899Form
    12Black, Randall ECEO & PRESIDENTDirectBuy1104202554.1047825,8622,381,306Form
    13Guillaume, Stephen JSENIOR VICE PRESIDENTDirectBuy902202556.9613740257,678Form

    Industry Resources

    External Quote Links


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    Core Cache Last Updated: 11/5/2026