LCNB (NASDAQ:LCNB) Raised to Strong-Buy at Zacks Research

LCNB (NASDAQ:LCNB) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings raised LCNB from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat, LCNB presently has an average rating of “Strong Buy”.

LCNB Trading Up 1.1%

LCNB opened at $19.57 on Tuesday. The firm has a 50 day simple moving average of $17.34 and a 200 day simple moving average of $16.90. LCNB has a fifty-two week low of $14.11 and a fifty-two week high of $20.62. The company has a market cap of $278.87 million, a price-to-earnings ratio of 11.31 and a beta of 0.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93.

LCNB (NASDAQ:LCNB) last announced its quarterly earnings data on Thursday, July 16th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. LCNB had a net margin of 19.69% and a return on equity of 8.98%. The firm had revenue of $25.14 million for the quarter, compared to analysts’ expectations of $24.00 million. On average, sell-side analysts anticipate that LCNB will post 1.73 earnings per share for the current year.

Institutional Investors Weigh In On LCNB

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new stake in shares of LCNB in the 1st quarter valued at $206,000. Goldman Sachs Group Inc. grew its stake in LCNB by 5.0% in the first quarter. Goldman Sachs Group Inc. now owns 38,804 shares of the bank’s stock valued at $574,000 after acquiring an additional 1,851 shares during the period. Empowered Funds LLC grew its stake in 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 acquiring an additional 3,421 shares during the period. Geode Capital Management LLC increased its holdings in shares of LCNB by 5.4% in the second quarter. Geode Capital Management LLC now owns 326,509 shares of the bank’s stock worth $4,746,000 after acquiring an additional 16,739 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of LCNB by 39.3% during the second quarter. Rhumbline Advisers now owns 16,605 shares of the bank’s stock worth $241,000 after purchasing an additional 4,685 shares during the period. 34.73% of the stock is currently owned by institutional investors and hedge funds.

About LCNB

LCNB Financial Corp (NASDAQ: LCNB) is the bank holding company for LCNB National Bank, a community-focused regional bank headquartered in Cincinnati, Ohio. Through its banking subsidiary, LCNB provides a full suite of deposit and lending solutions designed to meet the needs of individual consumers, small businesses, and middle-market commercial clients. The company emphasizes personalized service, offering checking, savings, money market, and certificate of deposit accounts alongside digital and mobile banking platforms.

On the lending side, LCNB National Bank extends a range of credit products, including commercial and industrial loans, real estate and construction financing, agricultural loans, residential mortgages, and consumer lending.