Souders Financial Advisors Purchases New Shares in LCNB Corp. (NASDAQ:LCNB)

Souders Financial Advisors acquired a new position in LCNB Corp. (NASDAQ:LCNB) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,571 shares of the bank’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in shares of LCNB by 70.6% in the 1st quarter. BNP Paribas Financial Markets now owns 5,629 shares of the bank’s stock worth $90,000 after buying an additional 2,329 shares during the period. Kimelman & Baird LLC bought a new stake in LCNB during the second quarter worth about $160,000. Financial Counselors Inc. purchased a new stake in LCNB in the second quarter worth about $172,000. Baker Ellis Asset Management LLC bought a new position in shares of LCNB during the first quarter valued at approximately $175,000. Finally, Rhumbline Advisers lifted its holdings in shares of 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 purchasing an additional 1,207 shares during the last quarter. Hedge funds and other institutional investors own 34.73% of the company’s stock.

LCNB Price Performance

LCNB opened at $14.68 on Wednesday. The firm has a market cap of $207.62 million, a PE ratio of 15.96 and a beta of 0.76. The stock has a 50-day moving average price of $15.00 and a 200-day moving average price of $14.61. LCNB Corp. has a 1 year low of $12.42 and a 1 year high of $17.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.93 and a quick ratio of 0.90.

LCNB (NASDAQ:LCNB) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.11. The business had revenue of $19.30 million during the quarter, compared to analyst estimates of $18.50 million. LCNB had a net margin of 5.97% and a return on equity of 6.55%. Sell-side analysts predict that LCNB Corp. will post 1 earnings per share for the current fiscal year.

LCNB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.22 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 5.99%. LCNB’s payout ratio is currently 95.65%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded LCNB from a “sell” rating to a “hold” rating in a research note 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.