Bank of New York Mellon Corp Buys 5,237 Shares of LCNB Corp. (NASDAQ:LCNB)

Bank of New York Mellon Corp grew its holdings in shares of LCNB Corp. (NASDAQ:LCNB) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,326 shares of the bank’s stock after acquiring an additional 5,237 shares during the quarter. Bank of New York Mellon Corp owned 0.41% of LCNB worth $811,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Private Wealth Strategies L.L.C. raised its position in LCNB by 2.7% during the 4th quarter. Private Wealth Strategies L.L.C. now owns 31,185 shares of the bank’s stock valued at $492,000 after purchasing an additional 819 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in LCNB by 70.6% in the first quarter. BNP Paribas Financial Markets now owns 5,629 shares of the bank’s stock worth $90,000 after purchasing an additional 2,329 shares during the period. Empowered Funds LLC raised its stake in LCNB by 8.1% during the first quarter. Empowered Funds LLC now owns 49,232 shares of the bank’s stock valued at $785,000 after buying an additional 3,675 shares during the last quarter. Baker Ellis Asset Management LLC grew its position in LCNB by 36.4% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 15,000 shares of the bank’s stock valued at $209,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Lcnb Corp lifted its stake in shares of LCNB by 1.8% in the first quarter. Lcnb Corp now owns 503,402 shares of the bank’s stock worth $8,024,000 after buying an additional 9,000 shares in the last quarter. 34.73% of the stock is owned by institutional investors.

LCNB Stock Performance

LCNB opened at $15.42 on Monday. The company’s 50 day moving average is $14.97 and its 200 day moving average is $14.59. The company has a market cap of $218.09 million, a price-to-earnings ratio of 16.76 and a beta of 0.76. LCNB Corp. 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.

LCNB (NASDAQ:LCNB) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.11. The company 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%. On average, equities research analysts predict that LCNB Corp. will post 1 EPS for the current year.

LCNB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 5.71%. LCNB’s dividend payout ratio is presently 95.65%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded LCNB from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th.

LCNB Company Profile

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.