Zacks Research Downgrades LCNB (NASDAQ:LCNB) to Hold

LCNB (NASDAQ:LCNB) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

A number of other brokerages have also recently commented on LCNB. Wall Street Zen upgraded 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 research report on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, LCNB presently has an average rating of “Moderate Buy”.

LCNB Trading Down 1.3%

Shares of NASDAQ:LCNB opened at $19.21 on Tuesday. The business’s 50 day simple moving average is $19.43 and its 200 day simple moving average is $17.62. LCNB has a 1 year low of $14.31 and a 1 year high of $21.32. 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 capitalization of $273.93 million, a P/E ratio of 11.10 and a beta of 0.55.

LCNB (NASDAQ:LCNB) last announced its quarterly earnings data on Wednesday, July 15th. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.09. The firm had revenue of $25.14 million during the quarter, compared to analysts’ expectations of $24.00 million. LCNB had a return on equity of 8.92% and a net margin of 19.69%. On average, research analysts anticipate that LCNB will post 1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On LCNB

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new stake in shares of LCNB in the 2nd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of LCNB during the 2nd quarter worth $50,000. Allworth Financial LP acquired a new position in shares of LCNB during the 2nd quarter worth $119,000. Kimelman & Baird LLC bought a new stake in shares of LCNB during the 2nd quarter worth $202,000. Finally, Axim Planning & Wealth bought a new stake in shares of LCNB during the 2nd quarter worth $202,000. 34.73% of the stock is currently owned by institutional investors.

LCNB Company Profile

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.