Short Interest in LCNB Corp. (NASDAQ:LCNB) Rises By 20.7%

LCNB Corp. (NASDAQ:LCNB) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 137,600 shares, a growth of 20.7% from the September 15th total of 114,000 shares. Based on an average daily volume of 21,200 shares, the days-to-cover ratio is currently 6.5 days.

LCNB Trading Down 0.2 %

LCNB stock opened at $14.85 on Wednesday. The stock has a 50-day moving average of $14.96 and a two-hundred day moving average of $14.55. The stock has a market cap of $210.02 million, a PE ratio of 16.14 and a beta of 0.75. 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 has a one year low of $12.42 and a one year high of $17.09.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings results 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 business had revenue of $19.30 million for the quarter, compared to the consensus estimate of $18.50 million. LCNB had a return on equity of 6.55% and a net margin of 5.97%. On average, research analysts anticipate that LCNB will post 1 EPS for the current fiscal year.

LCNB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.93%. LCNB’s payout ratio is currently 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. BNP Paribas Financial Markets lifted its holdings in LCNB by 70.6% in the first quarter. BNP Paribas Financial Markets now owns 5,629 shares of the bank’s stock valued at $90,000 after acquiring an additional 2,329 shares during the period. Kimelman & Baird LLC acquired a new position in shares of LCNB during the 2nd quarter worth approximately $160,000. Financial Counselors Inc. purchased a new position in LCNB during the second quarter valued at $172,000. Baker Ellis Asset Management LLC purchased a new position in LCNB in the 1st quarter valued at about $175,000. Finally, Rhumbline Advisers lifted its position in shares of LCNB by 10.4% in 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 in the last quarter. 34.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded LCNB from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th.

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.