Insider Buying: LCNB Corp. (NASDAQ:LCNB) EVP Acquires 1,000 Shares of Stock

LCNB Corp. (NASDAQ:LCNB) EVP Lawrence P. Jr. Mulligan acquired 1,000 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were purchased at an average cost of $14.37 per share, for a total transaction of $14,370.00. Following the completion of the acquisition, the executive vice president now directly owns 29,076 shares in the company, valued at approximately $417,822.12. The trade was a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

LCNB Stock Up 0.0%

LCNB traded up $0.00 on Wednesday, hitting $14.60. The company had a trading volume of 7,684 shares, compared to its average volume of 22,787. The firm has a market capitalization of $206.89 million, a P/E ratio of 15.02 and a beta of 0.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a fifty day simple moving average of $14.60 and a 200-day simple moving average of $15.29. LCNB Corp. has a 52-week low of $12.42 and a 52-week high of $17.92.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). The company had revenue of $21.52 million during the quarter, compared to analysts’ expectations of $15.80 million. LCNB had a return on equity of 7.12% and a net margin of 10.76%. As a group, equities analysts expect that LCNB Corp. will post 1.65 EPS for the current fiscal year.

LCNB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.88 annualized dividend and a dividend yield of 6.03%. LCNB’s dividend payout ratio (DPR) is 76.52%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of LCNB from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd.

Institutional Investors Weigh In On LCNB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC purchased a new stake in shares of LCNB during the 4th quarter valued at about $484,000. Raymond James Financial Inc. purchased a new stake in shares of LCNB during the 4th quarter valued at $330,000. JPMorgan Chase & Co. increased its stake in LCNB by 268.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,446 shares of the bank’s stock valued at $308,000 after purchasing an additional 14,904 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in LCNB by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,803 shares of the bank’s stock worth $527,000 after buying an additional 750 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in LCNB by 15.2% in the 4th quarter. Johnson Investment Counsel Inc. now owns 157,783 shares of the bank’s stock worth $2,387,000 after purchasing an additional 20,812 shares in the last quarter. Institutional investors own 34.73% of the company’s stock.

About LCNB

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.