StockNews.com Upgrades LCNB (NASDAQ:LCNB) to “Buy”

StockNews.com upgraded shares of LCNB (NASDAQ:LCNB) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

Separately, Hovde Group initiated coverage on shares of LCNB in a report on Friday, December 20th. They issued a “market perform” rating and a $16.25 price target for the company.

LCNB Price Performance

NASDAQ:LCNB opened at $15.79 on Monday. 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 firm has a market cap of $222.80 million, a price-to-earnings ratio of 16.28 and a beta of 0.78. The company has a 50 day moving average price of $15.67 and a 200-day moving average price of $15.48. LCNB has a 1-year low of $12.42 and a 1-year high of $17.92.

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 research analysts forecast that LCNB will post 1.75 EPS for the current year.

LCNB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.22 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.88 annualized dividend and a yield of 5.57%. LCNB’s dividend payout ratio (DPR) is presently 90.72%.

Institutional Investors Weigh In On LCNB

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in LCNB by 3.6% during the 4th quarter. Bank of New York Mellon Corp now owns 51,261 shares of the bank’s stock worth $776,000 after purchasing an additional 1,773 shares during the last quarter. Hengehold Capital Management LLC boosted its position in shares of LCNB by 156.1% during the 4th quarter. Hengehold Capital Management LLC now owns 42,063 shares of the bank’s stock valued at $636,000 after acquiring an additional 25,637 shares during the last quarter. Baker Ellis Asset Management LLC boosted its position in shares of LCNB by 23.6% during the 4th quarter. Baker Ellis Asset Management LLC now owns 26,200 shares of the bank’s stock valued at $396,000 after acquiring an additional 5,000 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of LCNB by 268.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,446 shares of the bank’s stock valued at $308,000 after acquiring an additional 14,904 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of LCNB by 79.3% during the 3rd quarter. Barclays PLC now owns 27,855 shares of the bank’s stock valued at $419,000 after acquiring an additional 12,322 shares during the last quarter. Institutional investors and hedge funds 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.