LCNB (NASDAQ:LCNB) Downgraded by StockNews.com

StockNews.com cut shares of LCNB (NASDAQ:LCNB) from a hold rating to a sell rating in a report issued on Tuesday morning.

LCNB Stock Performance

NASDAQ:LCNB opened at $15.48 on Tuesday. The firm has a market capitalization of $219.04 million, a PE ratio of 16.83 and a beta of 0.76. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.66. LCNB has a 1 year low of $12.42 and a 1 year high of $17.09. The firm’s fifty day simple moving average is $14.66 and its 200 day simple moving average is $14.51.

LCNB (NASDAQ:LCNB) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.11. LCNB had a return on equity of 6.55% and a net margin of 5.97%. The company had revenue of $19.30 million for the quarter, compared to the consensus estimate of $18.50 million. On average, sell-side analysts anticipate that LCNB will post 1 EPS for the current year.

LCNB Dividend Announcement

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

Hedge Funds Weigh In On LCNB

Institutional investors and hedge funds have recently bought and sold shares of the stock. Souders Financial Advisors bought a new stake in LCNB in the 2nd quarter valued at $231,000. Kimelman & Baird LLC acquired a new position in shares of LCNB during the second quarter valued at about $160,000. Renaissance Technologies LLC lifted its stake in shares of LCNB by 5.2% in the second quarter. Renaissance Technologies LLC now owns 114,916 shares of the bank’s stock valued at $1,598,000 after buying an additional 5,700 shares during the period. Johnson Investment Counsel Inc. grew its position in LCNB by 10.2% during the second quarter. Johnson Investment Counsel Inc. now owns 125,513 shares of the bank’s stock worth $1,746,000 after buying an additional 11,649 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in LCNB by 10.4% during the second quarter. Rhumbline Advisers now owns 12,841 shares of the bank’s stock valued at $179,000 after acquiring an additional 1,207 shares during the period. 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.