Johnson Investment Counsel Inc. Sells 12,615 Shares of LCNB Corporation $LCNB

Johnson Investment Counsel Inc. reduced its stake in LCNB Corporation (NASDAQ:LCNB) by 8.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 137,148 shares of the bank’s stock after selling 12,615 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in LCNB were worth $1,993,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. MAI Capital Management bought a new stake in shares of LCNB in the first quarter valued at approximately $32,000. Allworth Financial LP boosted its stake in shares of LCNB by 100.0% in the first quarter. Allworth Financial LP now owns 6,570 shares of the bank’s stock valued at $95,000 after buying an additional 3,285 shares during the period. NewEdge Advisors LLC bought a new stake in shares of LCNB in the first quarter valued at approximately $206,000. Nuveen LLC bought a new stake in LCNB during the first quarter worth $228,000. Finally, Hsbc Holdings PLC bought a new stake in LCNB during the first quarter worth $236,000. 34.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LCNB has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of LCNB in a research note on Wednesday, October 8th. Wall Street Zen cut LCNB from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.25.

LCNB Stock Up 2.3%

Shares of LCNB opened at $14.68 on Tuesday. LCNB Corporation has a 52 week low of $13.34 and a 52 week high of $17.92. The stock has a market capitalization of $208.16 million, a price-to-earnings ratio of 9.85 and a beta of 0.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a fifty day moving average of $15.43 and a 200-day moving average of $14.95.

LCNB (NASDAQ:LCNB) last announced its quarterly earnings results on Wednesday, August 28th. The bank reported $0.45 EPS for the quarter. LCNB had a return on equity of 8.26% and a net margin of 16.62%.The company had revenue of $17.82 million during the quarter. As a group, sell-side analysts anticipate that LCNB Corporation will post 1.65 earnings per share for the current fiscal year.

LCNB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Tuesday, September 2nd. LCNB’s dividend payout ratio is presently 59.06%.

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.