LCNB (NASDAQ:LCNB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of LCNB (NASDAQ:LCNB) from a sell rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

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. “

Separately, ValuEngine lowered Wolverine World Wide from a hold rating to a sell rating in a report on Monday, May 20th.

NASDAQ:LCNB traded up $0.06 during mid-day trading on Tuesday, reaching $18.07. 2,194 shares of the stock were exchanged, compared to its average volume of 56,553. The business’s fifty day moving average price is $17.79. The company has a market cap of $238.89 million, a price-to-earnings ratio of 13.00 and a beta of 0.55. LCNB has a 1-year low of $14.56 and a 1-year high of $20.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22.

LCNB (NASDAQ:LCNB) last released its earnings results on Thursday, April 18th. The bank reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $16.16 million for the quarter, compared to analyst estimates of $16.19 million. LCNB had a return on equity of 8.26% and a net margin of 22.58%. As a group, research analysts expect that LCNB will post 1.56 earnings per share for the current year.

In related news, insider John F. Smiley sold 5,000 shares of LCNB stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $17.12, for a total transaction of $85,600.00. Following the transaction, the insider now directly owns 116,435 shares of the company’s stock, valued at $1,993,367.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William G. Huddle sold 4,000 shares of LCNB stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $17.20, for a total value of $68,800.00. Following the transaction, the director now directly owns 147,400 shares in the company, valued at $2,535,280. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,653 shares of company stock worth $438,101. 6.45% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers purchased a new position in LCNB in the fourth quarter worth approximately $193,000. Bank of New York Mellon Corp lifted its position in shares of LCNB by 58.9% during the 4th quarter. Bank of New York Mellon Corp now owns 94,837 shares of the bank’s stock worth $1,437,000 after buying an additional 35,141 shares during the last quarter. Northern Trust Corp lifted its position in shares of LCNB by 3.0% during the 4th quarter. Northern Trust Corp now owns 97,556 shares of the bank’s stock worth $1,478,000 after buying an additional 2,822 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of LCNB by 51.9% during the 4th quarter. Bessemer Group Inc. now owns 12,300 shares of the bank’s stock worth $186,000 after buying an additional 4,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of LCNB by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 211,796 shares of the bank’s stock worth $3,209,000 after buying an additional 34,270 shares during the last quarter. 33.64% of the stock is currently owned by hedge funds and other institutional investors.

LCNB Company Profile

LCNB Corp. operates as the financial holding company for LCNB National Bank that provides commercial and personal banking services in Ohio. The company's 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.

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