LCNB Corp. (NASDAQ:LCNB) Sees Large Drop in Short Interest

LCNB Corp. (NASDAQ:LCNBGet Rating) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 33,400 shares, a decline of 26.1% from the March 31st total of 45,200 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 63,800 shares, the short-interest ratio is currently 0.5 days.

A number of institutional investors and hedge funds have recently made changes to their positions in LCNB. Ahrens Investment Partners LLC purchased a new position in LCNB in the 4th quarter valued at approximately $25,000. Barclays PLC lifted its position in shares of LCNB by 45.1% during the 3rd quarter. Barclays PLC now owns 8,643 shares of the bank’s stock worth $151,000 after purchasing an additional 2,687 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of LCNB by 18.7% during the 4th quarter. Wells Fargo & Company MN now owns 10,286 shares of the bank’s stock worth $201,000 after purchasing an additional 1,624 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of LCNB during the 3rd quarter worth $209,000. Finally, JPMorgan Chase & Co. lifted its position in shares of LCNB by 10.3% during the 4th quarter. JPMorgan Chase & Co. now owns 11,077 shares of the bank’s stock worth $216,000 after purchasing an additional 1,034 shares during the last quarter. 48.68% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on LCNB. StockNews.com began coverage on LCNB in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research lowered shares of LCNB from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th.

Shares of NASDAQ:LCNB traded down $0.02 during trading on Monday, hitting $16.06. 763 shares of the stock traded hands, compared to its average volume of 53,638. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $183.02 million, a P/E ratio of 9.87 and a beta of 0.78. The business’s fifty day simple moving average is $17.81. LCNB has a 52-week low of $15.85 and a 52-week high of $20.69.

LCNB (NASDAQ:LCNBGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. LCNB had a net margin of 26.28% and a return on equity of 8.48%. As a group, equities research analysts anticipate that LCNB will post 1.63 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, March 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, February 28th. This represents a $0.80 dividend on an annualized basis and a yield of 4.98%. LCNB’s dividend payout ratio is currently 49.08%.

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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