Geode Capital Management LLC Increases Position in LCNB Corp. (NASDAQ:LCNB)

Geode Capital Management LLC increased its position in shares of LCNB Corp. (NASDAQ:LCNB) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 299,492 shares of the bank’s stock after acquiring an additional 19,687 shares during the quarter. Geode Capital Management LLC owned approximately 2.12% of LCNB worth $4,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of LCNB. State Street Corp boosted its holdings in LCNB by 1.3% in the 3rd 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 during the last quarter. Kimelman & Baird LLC purchased a new stake in LCNB during the 2nd quarter worth approximately $160,000. Barclays PLC lifted its holdings in LCNB by 79.3% during the 3rd quarter. Barclays PLC now owns 27,855 shares of the bank’s stock worth $419,000 after buying an additional 12,322 shares in the last quarter. Souders Financial Advisors acquired a new position in shares of LCNB during the second quarter worth $231,000. Finally, Rhumbline Advisers boosted its holdings in 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. Hedge funds and other institutional investors own 34.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LCNB shares. StockNews.com upgraded LCNB from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Hovde Group started coverage on LCNB in a research report on Friday, December 20th. They set a “market perform” rating and a $16.25 target price on the stock.

LCNB Trading Up 0.4 %

LCNB stock opened at $15.00 on Monday. The stock has a 50-day moving average price of $16.42 and a 200 day moving average price of $15.26. LCNB Corp. has a 52 week low of $12.42 and a 52 week high of $17.92. The stock has a market cap of $211.65 million, a PE ratio of 29.41 and a beta of 0.79. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. LCNB had a net margin of 5.88% and a return on equity of 6.39%. The company had revenue of $32.81 million during the quarter, compared to the consensus estimate of $21.30 million. Equities research analysts predict that LCNB Corp. will post 1.09 earnings per share 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 issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date was Monday, December 2nd. LCNB’s payout ratio is currently 172.55%.

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.