LCNB (NASDAQ:LCNB) Upgraded at StockNews.com

LCNB (NASDAQ:LCNB) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

LCNB Stock Performance

Shares of LCNB opened at $15.81 on Wednesday. The firm’s fifty day simple moving average is $14.86 and its two-hundred day simple moving average is $14.56. LCNB has a 12 month low of $12.42 and a 12 month high of $17.09. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $223.60 million, a P/E ratio of 17.18 and a beta of 0.76.

LCNB (NASDAQ:LCNB) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.11. The business had revenue of $19.30 million during the quarter, compared to the consensus estimate of $18.50 million. LCNB had a return on equity of 6.55% and a net margin of 5.97%. As a group, analysts predict that LCNB will post 1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in LCNB by 70.6% during the first quarter. BNP Paribas Financial Markets now owns 5,629 shares of the bank’s stock worth $90,000 after buying an additional 2,329 shares during the last quarter. Kimelman & Baird LLC acquired a new position in LCNB during the 2nd quarter valued at about $160,000. Financial Counselors Inc. bought a new stake in LCNB during the 2nd quarter worth approximately $172,000. Baker Ellis Asset Management LLC purchased a new stake in shares of LCNB in the first quarter worth approximately $175,000. Finally, Rhumbline Advisers lifted its holdings in shares of LCNB by 10.4% in the second quarter. Rhumbline Advisers now owns 12,841 shares of the bank’s stock valued at $179,000 after purchasing an additional 1,207 shares in the last quarter. Institutional investors own 34.73% of the company’s stock.

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.