LCNB (NASDAQ:LCNB) Research Coverage Started at Hovde Group

Hovde Group initiated coverage on shares of LCNB (NASDAQ:LCNB) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $16.25 target price on the bank’s stock.

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

LCNB Trading Down 3.0 %

NASDAQ:LCNB opened at $15.24 on Friday. The firm has a market capitalization of $215.04 million, a P/E ratio of 29.88 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.91. LCNB has a one year low of $12.42 and a one year high of $17.92. The company’s 50-day simple moving average is $16.41 and its 200 day simple moving average is $15.18.

LCNB (NASDAQ:LCNB) last released its earnings results on Monday, October 21st. The bank reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. The firm had revenue of $32.81 million during the quarter, compared to analyst estimates of $21.30 million. LCNB had a net margin of 5.88% and a return on equity of 6.39%. As a group, analysts forecast that LCNB will post 1.09 EPS for the current fiscal year.

LCNB Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.22 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.88 annualized dividend and a dividend yield of 5.77%. LCNB’s dividend payout ratio is presently 172.55%.

Institutional Investors Weigh In On LCNB

Several institutional investors and hedge funds have recently made changes to their positions in LCNB. Geode Capital Management LLC boosted its stake in LCNB by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 299,492 shares of the bank’s stock valued at $4,514,000 after purchasing an additional 19,687 shares during the last quarter. State Street Corp lifted its holdings in shares of LCNB by 1.3% during the third quarter. State Street Corp now owns 153,579 shares of the bank’s stock valued at $2,314,000 after purchasing an additional 2,025 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in shares of LCNB by 10.2% during the second quarter. Johnson Investment Counsel Inc. now owns 125,513 shares of the bank’s stock valued at $1,746,000 after buying an additional 11,649 shares during the last quarter. Renaissance Technologies LLC increased its holdings in LCNB by 5.2% in the 2nd quarter. Renaissance Technologies LLC now owns 114,916 shares of the bank’s stock worth $1,598,000 after buying an additional 5,700 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in LCNB by 9.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,326 shares of the bank’s stock worth $811,000 after buying an additional 5,237 shares during the last quarter. Institutional investors own 34.73% of the company’s stock.

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.