LCNB (LCNB) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of LCNB (NASDAQ:LCNB) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other research firms have also issued reports on LCNB. Zacks Investment Research upgraded LCNB from a sell rating to a hold rating in a report on Wednesday, June 13th. ValuEngine lowered LCNB from a hold rating to a sell rating in a report on Tuesday, September 18th. Finally, Boenning Scattergood restated a hold rating on shares of LCNB in a report on Tuesday, July 31st.

LCNB opened at $18.70 on Friday. The firm has a market capitalization of $252.70 million, a PE ratio of 14.72 and a beta of 0.29. LCNB has a 12-month low of $17.93 and a 12-month high of $22.84. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

LCNB (NASDAQ:LCNB) last released its earnings results on Friday, July 20th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.01). The business 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%. sell-side analysts anticipate that LCNB will post 1.5 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Tuesday, September 4th were issued a $0.16 dividend. The ex-dividend date was Friday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.42%. LCNB’s payout ratio is currently 50.39%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LCNB. Strs Ohio increased its stake in shares of LCNB by 23.4% in the second quarter. Strs Ohio now owns 19,500 shares of the bank’s stock worth $384,000 after acquiring an additional 3,700 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of LCNB by 92.9% in the second quarter. Bessemer Group Inc. now owns 8,100 shares of the bank’s stock worth $160,000 after acquiring an additional 3,900 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of LCNB in the first quarter worth $122,000. LSV Asset Management acquired a new position in shares of LCNB in the second quarter worth $173,000. Finally, Martingale Asset Management L P increased its stake in shares of LCNB by 62.2% in the second quarter. Martingale Asset Management L P now owns 35,214 shares of the bank’s stock worth $694,000 after acquiring an additional 13,505 shares during the last quarter. Institutional investors own 28.26% of the company’s stock.

LCNB Company Profile

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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