JPMorgan Chase & Co. Purchases 14,904 Shares of LCNB Corp. (NASDAQ:LCNB)

JPMorgan Chase & Co. raised its holdings in LCNB Corp. (NASDAQ:LCNB) by 268.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,446 shares of the bank’s stock after purchasing an additional 14,904 shares during the period. JPMorgan Chase & Co. owned 0.14% of LCNB worth $308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of LCNB. Allworth Financial LP bought a new stake in LCNB during the 3rd quarter valued at $50,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in LCNB by 117.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,413 shares of the bank’s stock worth $383,000 after purchasing an additional 13,716 shares in the last quarter. Barclays PLC boosted its stake in LCNB by 79.3% in the 3rd quarter. Barclays PLC now owns 27,855 shares of the bank’s stock worth $419,000 after purchasing an additional 12,322 shares during the period. Empowered Funds LLC grew its holdings in LCNB by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 55,826 shares of the bank’s stock valued at $841,000 after buying an additional 2,814 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of LCNB by 5.2% in the second 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. Institutional investors own 34.73% of the company’s stock.

LCNB Price Performance

Shares of NASDAQ LCNB opened at $15.10 on Friday. The stock’s 50-day simple moving average is $15.85 and its two-hundred day simple moving average is $15.46. LCNB Corp. has a twelve month low of $12.42 and a twelve month high of $17.92. The firm has a market capitalization of $213.06 million, a P/E ratio of 29.61 and a beta of 0.79. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.14. LCNB had a net margin of 5.88% and a return on equity of 6.39%. As a group, equities analysts anticipate that LCNB Corp. will post 1.09 EPS for the current fiscal year.

LCNB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.22 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.83%. LCNB’s payout ratio is 172.55%.

Analyst Upgrades and Downgrades

Separately, Hovde Group started coverage on shares of LCNB in a research note on Friday, December 20th. They set a “market perform” rating and a $16.25 price objective for the company.

LCNB 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.