Connor Clark & Lunn Investment Management Ltd. Increases Stake in LCNB Corp. (NASDAQ:LCNB)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of LCNB Corp. (NASDAQ:LCNB) by 56.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,687 shares of the bank’s stock after acquiring an additional 14,274 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in LCNB were worth $600,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of LCNB. JPMorgan Chase & Co. lifted its holdings in shares of LCNB by 268.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,446 shares of the bank’s stock worth $308,000 after acquiring an additional 14,904 shares during the period. Raymond James Financial Inc. acquired a new stake in LCNB during the 4th quarter worth approximately $330,000. Baker Ellis Asset Management LLC increased its position in LCNB by 23.6% during the 4th quarter. Baker Ellis Asset Management LLC now owns 26,200 shares of the bank’s stock worth $396,000 after purchasing an additional 5,000 shares in the last quarter. Barclays PLC increased its position in LCNB by 79.3% during the 3rd quarter. Barclays PLC now owns 27,855 shares of the bank’s stock worth $419,000 after purchasing an additional 12,322 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in LCNB by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,803 shares of the bank’s stock worth $527,000 after purchasing an additional 750 shares in the last quarter. 34.73% of the stock is currently owned by hedge funds and other institutional investors.

LCNB Price Performance

Shares of NASDAQ LCNB opened at $14.85 on Friday. LCNB Corp. has a fifty-two week low of $12.42 and a fifty-two week high of $17.92. The firm’s 50-day simple moving average is $15.08 and its 200 day simple moving average is $15.54. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The stock has a market cap of $210.25 million, a P/E ratio of 15.31 and a beta of 0.79.

LCNB (NASDAQ:LCNB) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.30 by $0.14. LCNB had a net margin of 10.76% and a return on equity of 7.12%. Equities analysts expect that LCNB Corp. will post 1.65 EPS for the current year.

LCNB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.22 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.88 annualized dividend and a yield of 5.93%. LCNB’s payout ratio is presently 90.72%.

Analysts Set New Price Targets

Several analysts have issued reports on LCNB shares. Hovde Group began coverage on shares of LCNB in a research report on Friday, December 20th. They issued a “market perform” rating and a $16.25 price objective for the company. StockNews.com upgraded LCNB from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd.

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.