LCNB (NASDAQ:LCNB) Stock Moved Down to “Hold” by Wall Street Zen

Wall Street Zen downgraded shares of LCNB (NASDAQ:LCNB) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also weighed in on LCNB. Zacks Research lowered LCNB from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 15th. Piper Sandler began coverage on LCNB in a research note on Thursday, October 8th. They set a “neutral” rating and a $20.00 target price for the company. Finally, Weiss Ratings raised LCNB from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, November 2nd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, LCNB presently has a consensus rating of “Hold” and an average price target of $20.00.

LCNB Stock Performance

Shares of LCNB stock opened at $19.59 on Friday. The firm’s fifty day simple moving average is $19.14 and its 200-day simple moving average is $17.87. LCNB has a 12 month low of $14.83 and a 12 month high of $21.32. The stock has a market capitalization of $279.26 million, a price-to-earnings ratio of 11.19 and a beta of 0.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.94.

LCNB (NASDAQ:LCNB) last announced its earnings results on Thursday, October 15th. The bank reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. LCNB had a net margin of 20.02% and a return on equity of 8.95%. The business had revenue of $25.02 million during the quarter, compared to the consensus estimate of $24.65 million. As a group, equities analysts forecast that LCNB will post 1.85 earnings per share for the current year.

LCNB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.22 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.88 annualized dividend and a yield of 4.5%. LCNB’s payout ratio is 50.29%.

Insiders Place Their Bets

In other LCNB news, EVP Michael Miller sold 1,817 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $20.02, for a total transaction of $36,376.34. Following the completion of the sale, the executive vice president directly owned 17,957 shares in the company, valued at $359,499.14. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 1,900 shares of company stock worth $37,401 over the last 90 days. Insiders own 5.67% of the company’s stock.

Hedge Funds Weigh In On LCNB

Hedge funds have recently made changes to their positions in the business. Ritholtz Wealth Management increased its holdings in LCNB by 10.4% in the 3rd quarter. Ritholtz Wealth Management now owns 25,828 shares of the bank’s stock valued at $477,000 after purchasing an additional 2,439 shares in the last quarter. Lido Advisors LLC purchased a new position in LCNB in the third quarter valued at about $295,000. Kestra Advisory Services LLC lifted its stake in shares of LCNB by 75.2% during the third quarter. Kestra Advisory Services LLC now owns 29,320 shares of the bank’s stock worth $542,000 after purchasing an additional 12,587 shares in the last quarter. Investment Partners LTD. acquired a new position in shares of LCNB during the third quarter worth about $225,000. Finally, Squarepoint Ops LLC lifted its stake in shares of LCNB by 16.4% during the second quarter. Squarepoint Ops LLC now owns 20,716 shares of the bank’s stock worth $364,000 after purchasing an additional 2,920 shares in the last quarter. Hedge funds and other institutional investors 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.