LCNB (NASDAQ:LCNB) Downgraded by Zacks Investment Research to Hold

LCNB (NASDAQ:LCNB – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “LCNB Corp. is a financial holding company. The Company, through its subsidiaries, LCNB National Bank and Dakin Insurance Agency, Inc., is engaged in the commercial banking and insurance agency businesses. Headquartered in Lebanon, Ohio, the Bank is a full service community bank offering a range of commercial and personal banking services. In addition, the company provides safe deposit boxes, night depositories, U.S. savings bonds, travelers’ checks, money orders, cashier’s checks, bank-by-mail, automated teller machines (ATMs), cash and transaction services, debit cards, wire transfers, electronic funds transfer, utility bill collections, notary public services, personal computer based cash management services, telephone banking, and Internet banking services for individuals and businesses. Further, LCNB, through its subsidiary, Dakin Insurance Agency, Inc., engages in insurance agency businesses. It involves in the sale and servicing of personal and commercial insurance products, and annuity products. “

Separately, StockNews.com began coverage on LCNB in a report on Thursday, March 31st. They set a “buy” rating on the stock.

Shares of LCNB stock opened at $17.19 on Wednesday. LCNB has a twelve month low of $15.85 and a twelve month high of $20.69. The stock has a market cap of $195.90 million, a PE ratio of 10.36 and a beta of 0.78. The stock has a fifty day moving average price of $18.26. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.04.

LCNB (NASDAQ:LCNB – Get Rating) last released its quarterly earnings results on Friday, January 28th. The bank reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. LCNB had a return on equity of 8.77% and a net margin of 27.09%. The company had revenue of $18.66 million during the quarter, compared to analysts’ expectations of $18.10 million. Analysts forecast that LCNB will post 1.63 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ahrens Investment Partners LLC purchased a new stake in LCNB during the 4th quarter worth about $25,000. Barclays PLC grew its holdings in shares of LCNB by 45.1% in the 3rd quarter. Barclays PLC now owns 8,643 shares of the bank’s stock worth $151,000 after acquiring an additional 2,687 shares during the period. Wells Fargo & Company MN lifted its stake in LCNB by 18.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,286 shares of the bank’s stock valued at $201,000 after buying an additional 1,624 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in LCNB by 10.3% in the 4th quarter. JPMorgan Chase & Co. now owns 11,077 shares of the bank’s stock valued at $216,000 after buying an additional 1,034 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of LCNB during the 3rd quarter worth $209,000. 38.00% of the stock is owned by hedge funds and other institutional investors.

LCNB Company Profile (Get Rating)

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 certificates of deposit. 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.

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