Pacific Ridge Capital Partners LLC grew its holdings in shares of LCNB Corp. (NASDAQ:LCNB) by 41.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 139,310 shares of the bank’s stock after purchasing an additional 41,044 shares during the quarter. Pacific Ridge Capital Partners LLC owned approximately 1.05% of LCNB worth $2,598,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. LSV Asset Management boosted its stake in LCNB by 37.5% during the 3rd quarter. LSV Asset Management now owns 12,100 shares of the bank’s stock worth $225,000 after purchasing an additional 3,300 shares during the last quarter. Strs Ohio boosted 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 last quarter. Bank of New York Mellon Corp boosted its position in shares of LCNB by 10.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 59,696 shares of the bank’s stock valued at $1,113,000 after acquiring an additional 5,720 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of LCNB by 15.7% during the 3rd quarter. Panagora Asset Management Inc. now owns 50,938 shares of the bank’s stock valued at $950,000 after acquiring an additional 6,928 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of LCNB by 2.1% during the 3rd quarter. BlackRock Inc. now owns 482,399 shares of the bank’s stock valued at $8,997,000 after acquiring an additional 10,086 shares during the last quarter. 30.86% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of LCNB from a “hold” rating to a “strong sell” rating in a research report on Friday, October 26th. ValuEngine cut shares of LCNB from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Boenning Scattergood reissued a “hold” rating on shares of LCNB in a research report on Tuesday, October 23rd. Finally, BidaskClub raised shares of LCNB from a “sell” rating to a “hold” rating in a research report on Saturday, September 22nd.
Shares of LCNB stock opened at $15.76 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $211.82 million, a PE ratio of 12.06 and a beta of 0.42. LCNB Corp. has a twelve month low of $15.44 and a twelve month high of $22.84.
LCNB (NASDAQ:LCNB) last announced its quarterly earnings results on Friday, October 19th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The firm had revenue of $16.02 million for the quarter, compared to analyst estimates of $16.92 million. LCNB had a net margin of 20.37% and a return on equity of 8.09%. As a group, analysts forecast that LCNB Corp. will post 1.4 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a dividend of $0.17 per share. This is a boost from LCNB’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.68 annualized dividend and a dividend yield of 4.31%. LCNB’s payout ratio is presently 53.54%.
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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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