LCNB (LCNB) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of LCNB (NASDAQ:LCNB) from a buy rating to a hold rating in a report released on Wednesday.

According to Zacks, “LCNB Corp. is a financial holding company. The Company, through its subsidiaries, LCNB National Bank and Dakin Insurance Agency, Inc., is engaged in the commercial banking and insurance agency businesses. Headquartered in Lebanon, Ohio, the Bank is a full service community bank offering a range of commercial and personal banking services. In addition, the company provides safe deposit boxes, night depositories, U.S. savings bonds, travelers’ checks, money orders, cashier’s checks, bank-by-mail, automated teller machines (ATMs), cash and transaction services, debit cards, wire transfers, electronic funds transfer, utility bill collections, notary public services, personal computer based cash management services, telephone banking, and Internet banking services for individuals and businesses. Further, LCNB, through its subsidiary, Dakin Insurance Agency, Inc., engages in insurance agency businesses. It involves in the sale and servicing of personal and commercial insurance products, and annuity products. “

Separately, ValuEngine cut LCNB from a buy rating to a hold rating in a research note on Thursday, November 9th.

LCNB (NASDAQ LCNB) opened at $18.55 on Wednesday. The stock has a market capitalization of $189.44, a price-to-earnings ratio of 14.38 and a beta of 0.30. LCNB has a one year low of $18.05 and a one year high of $24.10.

LCNB (NASDAQ:LCNB) last announced its quarterly earnings data on Monday, January 29th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. The business had revenue of $13.24 million during the quarter, compared to analysts’ expectations of $13.07 million. LCNB had a return on equity of 8.63% and a net margin of 23.62%. analysts expect that LCNB will post 1.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Wednesday, February 28th. LCNB’s payout ratio is 49.61%.

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in shares of LCNB by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 41,286 shares of the bank’s stock worth $825,000 after purchasing an additional 612 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of LCNB by 6.6% in the second quarter. Teachers Advisors LLC now owns 16,342 shares of the bank’s stock worth $327,000 after purchasing an additional 1,016 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of LCNB by 5.0% in the second quarter. TIAA CREF Investment Management LLC now owns 26,414 shares of the bank’s stock worth $528,000 after purchasing an additional 1,262 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of LCNB by 18.2% in the second quarter. Ameriprise Financial Inc. now owns 14,736 shares of the bank’s stock worth $295,000 after purchasing an additional 2,269 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of LCNB by 22.1% in the third quarter. Wells Fargo & Company MN now owns 19,997 shares of the bank’s stock worth $419,000 after purchasing an additional 3,618 shares during the last quarter. Institutional investors and hedge funds own 37.28% of the company’s stock.

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About LCNB

LCNB Corp. (LCNB) is a financial holding company. The Company’s subsidiary includes LCNB National Bank (the Bank). The Bank offers commercial and personal banking services. Its services include safe deposit boxes, night depositories, cashier’s checks, utility bill collections, notary public service, mobile banking and other services tailored for both individuals and businesses.

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