State Street Corp Increases Position in LCNB Corp. (NASDAQ:LCNB)

State Street Corp increased its stake in shares of LCNB Corp. (NASDAQ:LCNB) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,579 shares of the bank’s stock after buying an additional 2,025 shares during the period. State Street Corp owned about 1.09% of LCNB worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Johnson Investment Counsel Inc. boosted its stake in shares of LCNB by 10.2% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 125,513 shares of the bank’s stock worth $1,746,000 after acquiring an additional 11,649 shares in the last quarter. Renaissance Technologies LLC raised its holdings in LCNB by 5.2% during the second quarter. Renaissance Technologies LLC now owns 114,916 shares of the bank’s stock worth $1,598,000 after purchasing an additional 5,700 shares during the last quarter. Bank of New York Mellon Corp boosted its position in LCNB by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 58,326 shares of the bank’s stock worth $811,000 after purchasing an additional 5,237 shares in the last quarter. Empowered Funds LLC grew its holdings in LCNB by 5.3% in the third quarter. Empowered Funds LLC now owns 55,826 shares of the bank’s stock valued at $841,000 after purchasing an additional 2,814 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of LCNB by 117.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,413 shares of the bank’s stock valued at $383,000 after buying an additional 13,716 shares in the last quarter. 34.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

LCNB Stock Performance

LCNB stock opened at $15.13 on Wednesday. LCNB Corp. has a fifty-two week low of $12.42 and a fifty-two week high of $17.92. The company has a market capitalization of $213.48 million, a price-to-earnings ratio of 29.67 and a beta of 0.77. The stock has a fifty day moving average of $16.42 and a two-hundred day moving average of $15.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.91 and a current ratio of 0.93.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. LCNB had a return on equity of 6.39% and a net margin of 5.88%. The firm had revenue of $32.81 million during the quarter, compared to analysts’ expectations of $21.30 million. On average, analysts anticipate that LCNB Corp. will post 1.09 EPS for the current fiscal year.

LCNB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend was Monday, December 2nd. LCNB’s dividend payout ratio is presently 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.