Wall Street Zen Upgrades LCNB (NASDAQ:LCNB) to Buy

by · The Markets Daily

Wall Street Zen upgraded shares of LCNB (NASDAQ:LCNB – Free Report) from a hold rating to a buy rating in a report released on Sunday morning.

LCNB Stock Performance

LCNB stock opened at $14.88 on Friday. The stock’s 50-day moving average is $14.61 and its 200-day moving average is $14.82. The company has a market cap of $210.85 million, a price-to-earnings ratio of 12.94 and a beta of 0.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.91 and a quick ratio of 0.91. LCNB has a 12 month low of $13.01 and a 12 month high of $17.92.

LCNB (NASDAQ:LCNB – Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The firm had revenue of $21.52 million during the quarter, compared to analysts’ expectations of $15.80 million. LCNB had a return on equity of 7.68% and a net margin of 12.72%. Equities analysts anticipate that LCNB will post 1.65 earnings per share for the current year.

LCNB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.22 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.91%. LCNB’s dividend payout ratio (DPR) is 76.52%.

Hedge Funds Weigh In On LCNB

A number of large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of LCNB by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,803 shares of the bank’s stock valued at $527,000 after buying an additional 750 shares in the last quarter. Baker Ellis Asset Management LLC grew its stake in shares of LCNB by 4.6% in the first quarter. Baker Ellis Asset Management LLC now owns 27,400 shares of the bank’s stock valued at $405,000 after buying an additional 1,200 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of LCNB by 3.6% in the fourth quarter. Bank of New York Mellon Corp now owns 51,261 shares of the bank’s stock valued at $776,000 after buying an additional 1,773 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of LCNB by 5.0% in the first quarter. Goldman Sachs Group Inc. now owns 38,804 shares of the bank’s stock valued at $574,000 after buying an additional 1,851 shares in the last quarter. Finally, MAI Capital Management acquired a new stake in shares of LCNB in the first quarter valued at about $32,000. 34.73% of the stock is currently owned by hedge funds and other institutional investors.

LCNB Company Profile

(Get Free Report)

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.

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