LCNB (NASDAQ:LCNB) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Shares of LCNB Corp. (NASDAQ:LCNB) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.58 and traded as low as $14.74. LCNB shares last traded at $15.11, with a volume of 35,877 shares.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LCNB. StockNews.com upgraded LCNB from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Hovde Group began coverage on LCNB in a report on Friday, December 20th. They set a “market perform” rating and a $16.25 price objective on the stock.

LCNB Stock Up 1.8 %

The stock has a market cap of $213.20 million, a price-to-earnings ratio of 15.58 and a beta of 0.79. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average of $15.10 and a two-hundred day moving average of $15.58.

LCNB (NASDAQ:LCNB) last issued its earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.14. LCNB had a return on equity of 7.12% and a net margin of 10.76%. As a group, analysts predict that LCNB Corp. will post 1.65 EPS for the current fiscal year.

LCNB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend is Monday, March 3rd. LCNB’s payout ratio is currently 90.72%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LCNB. Empowered Funds LLC lifted its stake in shares of LCNB by 5.3% during the third quarter. Empowered Funds LLC now owns 55,826 shares of the bank’s stock worth $841,000 after purchasing an additional 2,814 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of LCNB by 117.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,413 shares of the bank’s stock worth $383,000 after purchasing an additional 13,716 shares in the last quarter. State Street Corp lifted its stake in shares of LCNB by 1.3% during the third quarter. State Street Corp now owns 153,579 shares of the bank’s stock worth $2,314,000 after purchasing an additional 2,025 shares in the last quarter. Barclays PLC lifted its stake in shares of LCNB by 79.3% during the third quarter. Barclays PLC now owns 27,855 shares of the bank’s stock worth $419,000 after purchasing an additional 12,322 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of LCNB by 7.0% during the third quarter. Geode Capital Management LLC now owns 299,492 shares of the bank’s stock worth $4,514,000 after purchasing an additional 19,687 shares in 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.