Hovde Group Begins Coverage on LCNB (NASDAQ:LCNB)

Hovde Group started coverage on shares of LCNB (NASDAQ:LCNB) in a research report report published on Friday, Marketbeat reports. The brokerage issued a market perform rating and a $16.25 price objective on the bank’s stock.

Separately, StockNews.com raised shares of LCNB from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th.

LCNB Price Performance

NASDAQ LCNB opened at $15.24 on Friday. The stock has a market capitalization of $215.04 million, a price-to-earnings ratio of 29.88 and a beta of 0.77. LCNB has a 1-year low of $12.42 and a 1-year high of $17.92. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.91. The business’s fifty day moving average price is $16.41 and its 200-day moving average price is $15.18.

LCNB (NASDAQ:LCNB) last posted its earnings results on Monday, October 21st. The bank reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The company had revenue of $32.81 million for the quarter, compared to the consensus estimate of $21.30 million. LCNB had a return on equity of 6.39% and a net margin of 5.88%. On average, equities analysts predict that LCNB will post 1.09 earnings per share for the current year.

LCNB Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.22 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 5.77%. LCNB’s dividend payout ratio is currently 172.55%.

Institutional Trading of LCNB

Several hedge funds have recently bought and sold shares of LCNB. Barclays PLC raised its stake in shares of LCNB by 79.3% in the third quarter. Barclays PLC now owns 27,855 shares of the bank’s stock worth $419,000 after buying an additional 12,322 shares during the period. Geode Capital Management LLC raised its stake in LCNB by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 299,492 shares of the bank’s stock worth $4,514,000 after acquiring an additional 19,687 shares during the period. State Street Corp lifted its holdings in LCNB by 1.3% during the third quarter. State Street Corp now owns 153,579 shares of the bank’s stock valued at $2,314,000 after purchasing an additional 2,025 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of LCNB by 117.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,413 shares of the bank’s stock worth $383,000 after purchasing an additional 13,716 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of LCNB by 5.3% in the third quarter. Empowered Funds LLC now owns 55,826 shares of the bank’s stock worth $841,000 after purchasing an additional 2,814 shares in the last quarter. 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.