StockNews.com Upgrades LCNB (NASDAQ:LCNB) to “Hold”

StockNews.com upgraded shares of LCNB (NASDAQ:LCNB) from a sell rating to a hold rating in a research report released on Wednesday morning.

LCNB Stock Down 2.3 %

Shares of NASDAQ LCNB opened at $15.42 on Wednesday. The firm’s fifty day moving average is $14.97 and its 200 day moving average is $14.58. LCNB has a 52 week low of $12.42 and a 52 week high of $17.09. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.66. The company has a market cap of $218.09 million, a price-to-earnings ratio of 16.76 and a beta of 0.76.

LCNB (NASDAQ:LCNB) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.11. The firm had revenue of $19.30 million for the quarter, compared to analysts’ expectations of $18.50 million. LCNB had a net margin of 5.97% and a return on equity of 6.55%. On average, equities research analysts expect that LCNB will post 1 earnings per share for the current year.

LCNB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.71%. LCNB’s dividend payout ratio is currently 95.65%.

Hedge Funds Weigh In On LCNB

Hedge funds and other institutional investors have recently made changes to their positions in the business. Souders Financial Advisors purchased a new position in LCNB during the 2nd quarter valued at $231,000. Kimelman & Baird LLC purchased a new stake in shares of LCNB in the 2nd quarter worth about $160,000. Renaissance Technologies LLC boosted its stake in shares of LCNB by 5.2% during the 2nd quarter. Renaissance Technologies LLC now owns 114,916 shares of the bank’s stock valued at $1,598,000 after purchasing an additional 5,700 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in shares of LCNB by 10.2% during the second quarter. Johnson Investment Counsel Inc. now owns 125,513 shares of the bank’s stock valued at $1,746,000 after buying an additional 11,649 shares during the period. Finally, Rhumbline Advisers raised its stake in LCNB by 10.4% in the second quarter. Rhumbline Advisers now owns 12,841 shares of the bank’s stock worth $179,000 after buying an additional 1,207 shares in the last quarter. Institutional investors own 34.73% of the company’s stock.

LCNB Company Profile

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.