LCNB (NASDAQ:LCNB) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of LCNB (NASDAQ:LCNB) from a buy rating to a hold rating in a research note issued to investors on Saturday.

LCNB Stock Down 0.8%

NASDAQ LCNB opened at $14.12 on Friday. The stock’s 50 day simple moving average is $14.53 and its 200 day simple moving average is $14.93. LCNB has a one year low of $12.42 and a one year high of $17.92. The firm has a market cap of $200.08 million, a PE ratio of 12.28 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 (NASDAQ:LCNB) last announced its earnings results on Tuesday, April 22nd. The bank reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). LCNB had a return on equity of 7.68% and a net margin of 12.72%. The business had revenue of $21.52 million for the quarter, compared to the consensus estimate of $15.80 million. As a group, sell-side analysts forecast that LCNB will post 1.65 earnings per share for the current fiscal year.

LCNB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 6.23%. The ex-dividend date was Monday, June 2nd. LCNB’s payout ratio is presently 76.52%.

Hedge Funds Weigh In On LCNB

A number of institutional investors have recently modified their holdings of the stock. Empowered Funds LLC grew its stake in shares of LCNB by 7.0% during the first quarter. Empowered Funds LLC now owns 52,377 shares of the bank’s stock valued at $775,000 after purchasing an additional 3,421 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in LCNB by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 38,804 shares of the bank’s stock worth $574,000 after buying an additional 1,851 shares in the last quarter. NewEdge Advisors LLC acquired a new position in LCNB during the 1st quarter worth $206,000. MAI Capital Management bought a new position in LCNB in the 1st quarter valued at $32,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of LCNB in the 1st quarter valued at $236,000. 34.73% of the stock is owned by institutional investors.

LCNB Company Profile

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.