LCNB (LCNB) Downgraded by Zacks Investment Research

LCNB (NASDAQ:LCNB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “LCNB Corp. is a financial holding company. The Company, through its subsidiaries, LCNB National Bank and Dakin Insurance Agency, Inc., is engaged in the commercial banking and insurance agency businesses. Headquartered in Lebanon, Ohio, the Bank is a full service community bank offering a range of commercial and personal banking services. In addition, the company provides safe deposit boxes, night depositories, U.S. savings bonds, travelers’ checks, money orders, cashier’s checks, bank-by-mail, automated teller machines (ATMs), cash and transaction services, debit cards, wire transfers, electronic funds transfer, utility bill collections, notary public services, personal computer based cash management services, telephone banking, and Internet banking services for individuals and businesses. Further, LCNB, through its subsidiary, Dakin Insurance Agency, Inc., engages in insurance agency businesses. It involves in the sale and servicing of personal and commercial insurance products, and annuity products. “

Other equities research analysts have also issued research reports about the stock. BidaskClub lowered shares of LCNB from a “hold” rating to a “sell” rating in a research note on Saturday, August 25th. ValuEngine downgraded shares of LCNB from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Finally, Boenning Scattergood reissued a “hold” rating on shares of LCNB in a research report on Tuesday, July 31st.

NASDAQ:LCNB opened at $18.70 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $252.70 million, a price-to-earnings ratio of 14.72 and a beta of 0.29. LCNB has a 52 week low of $17.93 and a 52 week high of $22.84.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings data on Friday, July 20th. The bank reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). The firm had revenue of $14.16 million during the quarter, compared to analysts’ expectations of $14.45 million. LCNB had a net margin of 19.98% and a return on equity of 8.04%. equities analysts forecast that LCNB will post 1.5 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in LCNB. SG Americas Securities LLC bought a new position in shares of LCNB during the 1st quarter valued at approximately $122,000. Bessemer Group Inc. grew its position in shares of LCNB by 92.9% during the 2nd quarter. Bessemer Group Inc. now owns 8,100 shares of the bank’s stock valued at $160,000 after acquiring an additional 3,900 shares during the period. LSV Asset Management bought a new position in shares of LCNB during the 2nd quarter valued at approximately $173,000. American Century Companies Inc. bought a new position in shares of LCNB during the 2nd quarter valued at approximately $269,000. Finally, Strs Ohio grew its position in shares of LCNB by 23.4% during the 2nd quarter. Strs Ohio now owns 19,500 shares of the bank’s stock valued at $384,000 after acquiring an additional 3,700 shares during the period. 28.26% of the stock is owned by hedge funds and other institutional investors.

About LCNB

LCNB Corp., a financial holding company, provides commercial and personal banking services in Ohio. Its deposit products include checking, NOW, savings, Christmas and vacation club, money market deposit, lifetime checking, and individual retirement accounts, as well as certificates of deposit. The company's loan portfolio comprises commercial and industrial, commercial and residential real estate, agricultural, construction, small business administration, and residential mortgage loans.

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