LCNB (NASDAQ:LCNB) Raised to “Buy” at Wall Street Zen

LCNB (NASDAQ:LCNB) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

LCNB Trading Up 0.1%

Shares of LCNB stock opened at $15.39 on Tuesday. The firm’s 50-day moving average price is $14.72 and its two-hundred day moving average price is $14.79. LCNB has a 12-month low of $13.24 and a 12-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 capitalization of $218.08 million, a price-to-earnings ratio of 13.38 and a beta of 0.60.

LCNB (NASDAQ:LCNB) last posted its quarterly 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 net margin of 12.72% and a return on equity of 7.68%. The company had revenue of $21.52 million during the quarter, compared to analyst estimates of $15.80 million. On average, analysts forecast that LCNB will post 1.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LCNB

Several hedge funds have recently added to or reduced their stakes in LCNB. Segall Bryant & Hamill LLC acquired a new position in shares of LCNB during the 4th quarter valued at $814,000. Commonwealth Equity Services LLC acquired a new position in shares of LCNB during the 4th quarter valued at $484,000. Lido Advisors LLC acquired a new position in shares of LCNB during the 4th quarter valued at $469,000. JPMorgan Chase & Co. lifted its position in shares of LCNB by 122.4% during the 4th quarter. JPMorgan Chase & Co. now owns 45,477 shares of the bank’s stock valued at $688,000 after acquiring an additional 25,031 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of LCNB by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 423,891 shares of the bank’s stock valued at $6,413,000 after acquiring an additional 22,315 shares during the period. 34.73% of the stock is currently owned by institutional investors and hedge funds.

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.