LCNB (NASDAQ:LCNB) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of LCNB (NASDAQ:LCNB) from a hold rating to a sell rating in a research note released on Tuesday morning.

LCNB Price Performance

Shares of LCNB stock opened at $15.48 on Tuesday. The firm has a market cap of $219.04 million, a P/E ratio of 16.83 and a beta of 0.76. The firm’s 50-day simple moving average is $14.66 and its 200-day simple moving average is $14.51. LCNB has a twelve month low of $12.42 and a twelve month high of $17.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.90 and a current ratio of 0.93.

LCNB (NASDAQ:LCNB) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.11. The company had revenue of $19.30 million for the quarter, compared to analyst estimates of $18.50 million. LCNB had a return on equity of 6.55% and a net margin of 5.97%. As a group, research analysts expect that LCNB will post 1 EPS for the current fiscal year.

LCNB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 5.68%. LCNB’s payout ratio is 95.65%.

Institutional Investors Weigh In On LCNB

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LCNB. Vanguard Group Inc. increased its holdings in shares of LCNB by 43.2% in the first quarter. Vanguard Group Inc. now owns 766,198 shares of the bank’s stock valued at $12,213,000 after purchasing an additional 231,035 shares in the last quarter. Lcnb Corp increased its stake in shares of LCNB by 1.8% in the 1st quarter. Lcnb Corp now owns 503,402 shares of the bank’s stock valued at $8,024,000 after buying an additional 9,000 shares during the period. Johnson Investment Counsel Inc. increased its stake in shares of LCNB by 10.2% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 125,513 shares of the bank’s stock valued at $1,746,000 after buying an additional 11,649 shares during the period. Renaissance Technologies LLC lifted its stake in shares of LCNB by 5.2% during the second quarter. Renaissance Technologies LLC now owns 114,916 shares of the bank’s stock valued at $1,598,000 after acquiring an additional 5,700 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in LCNB by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 58,326 shares of the bank’s stock valued at $811,000 after acquiring an additional 5,237 shares during the last quarter. Institutional investors and hedge funds own 34.73% of the company’s stock.

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.