LCNB Corp. (NASDAQ:LCNB) Short Interest Up 28.1% in November

LCNB Corp. (NASDAQ:LCNB) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 138,100 shares, an increase of 28.1% from the November 15th total of 107,800 shares. Based on an average daily trading volume, of 20,300 shares, the days-to-cover ratio is currently 6.8 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LCNB. Geode Capital Management LLC grew its stake in shares of LCNB by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 299,492 shares of the bank’s stock valued at $4,514,000 after acquiring an additional 19,687 shares during the period. Souders Financial Advisors purchased a new stake in shares of LCNB during the 2nd quarter worth approximately $231,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of LCNB by 117.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,413 shares of the bank’s stock worth $383,000 after acquiring an additional 13,716 shares in the last quarter. Financial Counselors Inc. purchased a new stake in shares of LCNB during the 2nd quarter worth approximately $172,000. Finally, Barclays PLC raised its holdings in shares of LCNB by 79.3% during the 3rd quarter. Barclays PLC now owns 27,855 shares of the bank’s stock worth $419,000 after acquiring an additional 12,322 shares in the last quarter. 34.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised LCNB from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th.

LCNB Price Performance

Shares of NASDAQ:LCNB opened at $17.01 on Monday. LCNB has a fifty-two week low of $12.42 and a fifty-two week high of $17.92. The business has a 50-day simple moving average of $16.26 and a two-hundred day simple moving average of $15.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.91 and a current ratio of 0.93. The firm has a market cap of $240.01 million, a price-to-earnings ratio of 33.35 and a beta of 0.77.

LCNB (NASDAQ:LCNB) last issued its earnings results on Monday, October 21st. The bank reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $32.81 million during the quarter, compared to analyst estimates of $21.30 million. LCNB had a return on equity of 6.39% and a net margin of 5.88%. On average, analysts expect that LCNB will post 1.09 earnings per share for the current year.

LCNB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.17%. LCNB’s dividend payout ratio is currently 172.55%.

About LCNB

LCNB Corp. operates as the financial holding company for LCNB National Bank that provides banking services in Ohio. Its deposit products include checking accounts, demand deposits, savings accounts, NOW and money market deposits, as well as individual retirement accounts and time certificates. The company's loan products comprise commercial and industrial, commercial and residential real estate, agricultural, construction, and small business administration loans; and residential mortgage loans that consists of loans for purchasing or refinancing personal residences, home equity lines of credit, and loans for commercial or consumer purposes secured by residential mortgages.