LCNB Corp. (NASDAQ:LCNB) Declares $0.22 Quarterly Dividend

LCNB Corp. (NASDAQ:LCNB) declared a quarterly dividend on Monday, May 19th, RTT News reports. Investors of record on Monday, June 2nd will be given a dividend of 0.22 per share by the bank on Monday, June 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.73%.

LCNB has increased its dividend payment by an average of 4.6% per year over the last three years and has raised its dividend every year for the last 7 years. LCNB has a dividend payout ratio of 53.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect LCNB to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 48.9%.

LCNB Stock Down 0.9%

NASDAQ LCNB opened at $15.37 on Tuesday. The company’s 50 day simple moving average is $14.62 and its 200 day simple moving average is $15.36. The company has a market capitalization of $217.75 million, a P/E ratio of 15.85 and a beta of 0.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.91. LCNB has a 12 month low of $12.42 and a 12 month high of $17.92.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $21.52 million during the quarter, compared to analysts’ expectations of $15.80 million. LCNB had a return on equity of 7.12% and a net margin of 10.76%. Equities research analysts expect that LCNB will post 1.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded LCNB from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th.

Institutional Investors Weigh In On LCNB

Institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC bought a new stake in shares of LCNB in the first quarter worth $206,000. Goldman Sachs Group Inc. grew its stake in LCNB by 5.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 38,804 shares of the bank’s stock valued at $574,000 after buying an additional 1,851 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of LCNB by 7.0% in 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. 34.73% of the stock is owned by institutional investors.

About LCNB

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.