LCNB (NASDAQ:LCNB) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of LCNB (NASDAQ:LCNB) from a buy rating to a hold rating in a report issued on Monday morning.

LCNB Stock Performance

LCNB stock opened at $15.81 on Monday. The company’s 50-day moving average price is $14.68 and its 200-day moving average price is $14.79. LCNB has a twelve month low of $13.04 and a twelve month high of $17.92. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.40. The company has a market cap of $224.08 million, a PE ratio of 13.75 and a beta of 0.60.

LCNB (NASDAQ:LCNB) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). LCNB had a return on equity of 7.68% and a net margin of 12.72%. The business had revenue of $21.52 million during the quarter, compared to the consensus estimate of $15.80 million. On average, equities research analysts forecast that LCNB will post 1.65 EPS for the current fiscal year.

LCNB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.22 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.56%. LCNB’s dividend payout ratio (DPR) is presently 76.52%.

Hedge Funds Weigh In On LCNB

Hedge funds have recently added to or reduced their stakes in the company. MAI Capital Management bought a new position in LCNB during the 1st quarter valued at about $32,000. Tower Research Capital LLC TRC grew its holdings in LCNB by 240.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,123 shares of the bank’s stock valued at $47,000 after purchasing an additional 2,205 shares during the last quarter. Allworth Financial LP grew its holdings in LCNB by 100.0% during the 1st quarter. Allworth Financial LP now owns 6,570 shares of the bank’s stock valued at $95,000 after purchasing an additional 3,285 shares during the last quarter. NewEdge Advisors LLC bought a new position in LCNB during the 1st quarter valued at about $206,000. Finally, Nuveen LLC bought a new position in LCNB during the 1st quarter valued at about $228,000. 34.73% of the stock is currently owned by institutional investors.

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.