LCNB (NASDAQ:LCNB) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of LCNB (NASDAQ:LCNB) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks reports.

Other research analysts have also recently issued reports about the company. Wall Street Zen raised LCNB from a “hold” rating to a “buy” rating in a research report on Sunday, September 6th. Weiss Ratings raised shares of LCNB from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, LCNB currently has an average rating of “Moderate Buy”.

LCNB Price Performance

Shares of LCNB stock opened at $19.21 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $273.93 million, a PE ratio of 11.10 and a beta of 0.55. The firm has a fifty day moving average price of $19.43 and a two-hundred day moving average price of $17.62. LCNB has a fifty-two week low of $14.31 and a fifty-two week high of $21.32.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings data on Wednesday, July 15th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.09. LCNB had a net margin of 19.69% and a return on equity of 8.92%. The company had revenue of $25.14 million for the quarter, compared to the consensus estimate of $24.00 million. Analysts expect that LCNB will post 1.73 EPS for the current year.

LCNB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.88 annualized dividend and a yield of 4.6%. LCNB’s payout ratio is currently 50.87%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of LCNB during the 2nd quarter worth about $16,885,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in LCNB during the second quarter worth about $1,085,000. Bank of New York Mellon Corp bought a new stake in LCNB during the second quarter worth about $1,008,000. Empowered Funds LLC acquired a new stake in shares of LCNB during the second quarter worth approximately $1,431,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of LCNB during the first quarter worth approximately $802,000. 34.73% of the stock is currently owned by institutional investors and hedge funds.

About LCNB

LCNB Corporation is a bank holding company headquartered in Lebanon, Ohio. Its principal subsidiary, LCNB National Bank, provides community banking services to individuals, families, businesses and institutions.

The bank offers a range of deposit products, residential and commercial lending, consumer loans, cash-management services and other business banking solutions. It also provides trust, wealth management and investment-related services through its banking and financial services operations.

LCNB serves customers primarily through its branch network and digital banking channels in southwestern and central Ohio, with additional operations in nearby markets.