LCNB (NASDAQ:LCNB) Downgraded by Wall Street Zen to Hold

LCNB (NASDAQ:LCNB) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

LCNB Stock Down 0.8%

LCNB opened at $14.12 on Friday. The business’s fifty day simple moving average is $14.53 and its 200 day simple moving average is $14.92. LCNB has a 52 week low of $12.42 and a 52 week high of $17.92. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.40. The stock has a market cap of $200.08 million, a PE ratio of 12.28 and a beta of 0.60.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The firm had revenue of $21.52 million during the quarter, compared to analysts’ expectations of $15.80 million. LCNB had a return on equity of 7.68% and a net margin of 12.72%. As a group, research analysts expect that LCNB will post 1.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LCNB

Several institutional investors and hedge funds have recently made changes to their positions in the business. MAI Capital Management purchased a new position in LCNB in the 1st quarter worth $32,000. Tower Research Capital LLC TRC increased its holdings in shares of LCNB by 240.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,123 shares of the bank’s stock worth $47,000 after buying an additional 2,205 shares during the period. Allworth Financial LP increased its holdings in shares of LCNB by 100.0% in the first quarter. Allworth Financial LP now owns 6,570 shares of the bank’s stock worth $95,000 after buying an additional 3,285 shares during the period. NewEdge Advisors LLC bought a new stake in shares of LCNB in the 1st quarter valued at about $206,000. Finally, Nuveen LLC purchased a new stake in LCNB during the 1st quarter valued at about $228,000. 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.