LCNB (NASDAQ:LCNB) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of LCNB (NASDAQ:LCNB) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Several other equities research analysts also recently issued reports on the stock. Weiss Ratings upgraded shares of LCNB from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, November 2nd. Zacks Research cut LCNB from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 15th. Finally, Piper Sandler assumed coverage on LCNB in a research report on Thursday, October 8th. They set a “neutral” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, LCNB currently has a consensus rating of “Hold” and a consensus target price of $20.00.

LCNB Stock Performance

Shares of LCNB stock opened at $19.78 on Friday. The stock has a market cap of $282.06 million, a P/E ratio of 11.59 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.94 and a quick ratio of 0.94. The company has a fifty day moving average price of $19.14 and a two-hundred day moving average price of $17.88. LCNB has a one year low of $14.83 and a one year high of $21.32.

LCNB (NASDAQ:LCNB) last announced its quarterly earnings data on Thursday, October 15th. The bank reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $25.02 million during the quarter, compared to the consensus estimate of $24.65 million. LCNB had a net margin of 20.02% and a return on equity of 9.00%. As a group, equities analysts predict that LCNB will post 1.85 EPS for the current year.

LCNB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, September 1st. LCNB’s payout ratio is currently 50.29%.

Insider Activity at LCNB

In other news, EVP Michael Miller sold 1,817 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $20.02, for a total value of $36,376.34. Following the transaction, the executive vice president directly owned 17,957 shares of the company’s stock, valued at $359,499.14. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 1,900 shares of company stock valued at $37,401 in the last 90 days. 5.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in LCNB in the 2nd quarter valued at about $16,885,000. Empowered Funds LLC bought a new stake in shares of LCNB during the second quarter worth approximately $1,431,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of LCNB in the second quarter valued at approximately $1,085,000. Bank of New York Mellon Corp acquired a new position in shares of LCNB in the second quarter valued at approximately $1,008,000. Finally, Hsbc Holdings PLC acquired a new position in shares of LCNB in the second quarter valued at approximately $849,000. Institutional investors and hedge funds own 34.73% of the company’s stock.

LCNB Company Profile

LCNB Corporation is a bank holding company headquartered in Lebanon, Ohio. Its principal subsidiary, LCNB National Bank, operates as a community bank serving individuals, families, businesses and nonprofit organizations.

LCNB National Bank provides a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, home equity financing and agricultural lending. The bank also offers digital banking, treasury management and other cash-management services designed to support personal and business customers.

Through its banking operations, LCNB serves communities primarily in southwestern Ohio and nearby areas of northern Kentucky.