LCNB (LCNB) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of LCNB (NASDAQ:LCNB) from a hold rating to a sell rating in a report published on Tuesday morning, Zacks.com reports.

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. “

A number of other equities research analysts have also recently weighed in on the company. ValuEngine upgraded LCNB from a sell rating to a hold rating in a report on Monday, May 20th. Boenning Scattergood reiterated a hold rating on shares of LCNB in a report on Thursday, February 7th.

LCNB opened at $16.90 on Tuesday. The company has a market capitalization of $224.78 million, a P/E ratio of 11.89 and a beta of 0.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.90. LCNB has a 1-year low of $14.56 and a 1-year high of $20.65.

LCNB (NASDAQ:LCNB) last released its quarterly earnings results on Thursday, April 18th. The bank reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $16.16 million for the quarter, compared to analysts’ expectations of $16.19 million. LCNB had a return on equity of 8.26% and a net margin of 22.58%. As a group, equities research analysts forecast that LCNB will post 1.56 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Friday, May 31st. LCNB’s dividend payout ratio (DPR) is presently 48.92%.

In other LCNB news, insider John F. Smiley sold 10,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $17.00, for a total transaction of $170,000.00. Following the sale, the insider now owns 128,212 shares in the company, valued at approximately $2,179,604. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William G. Huddle sold 4,000 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $17.20, for a total value of $68,800.00. Following the sale, the director now owns 147,400 shares in the company, valued at approximately $2,535,280. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,653 shares of company stock worth $438,101. 6.45% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. Ramsey Quantitative Systems grew its holdings in LCNB by 149.6% during the 4th quarter. Ramsey Quantitative Systems now owns 1,665 shares of the bank’s stock valued at $25,000 after buying an additional 998 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in LCNB by 492.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,936 shares of the bank’s stock valued at $33,000 after buying an additional 1,609 shares during the last quarter. Northern Trust Corp grew its holdings in LCNB by 1.9% during the 1st quarter. Northern Trust Corp now owns 99,442 shares of the bank’s stock valued at $1,706,000 after buying an additional 1,886 shares during the last quarter. Bank of America Corp DE grew its holdings in LCNB by 8.9% during the 4th quarter. Bank of America Corp DE now owns 38,987 shares of the bank’s stock valued at $591,000 after buying an additional 3,176 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in LCNB by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 104,557 shares of the bank’s stock valued at $1,583,000 after buying an additional 4,029 shares during the last quarter. Hedge funds and other institutional investors own 33.64% of the company’s stock.

About LCNB

LCNB Corp. operates as the financial holding company for LCNB National Bank that provides commercial and personal banking services in Ohio. The company's deposit products include checking, NOW, savings, Christmas and vacation club, money market deposit, lifetime checking, and individual retirement accounts, as well as certificates of deposit.

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