LCNB (NASDAQ:LCNB) 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 research note released on Thursday, 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. “

Separately, ValuEngine cut shares of LCNB from a hold rating to a sell rating in a research report on Thursday, August 1st.

LCNB stock remained flat at $$17.02 during midday trading on Thursday. 5,823 shares of the company’s stock were exchanged, compared to its average volume of 15,655. The stock has a market capitalization of $220.61 million, a P/E ratio of 11.58 and a beta of 0.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.90 and a current ratio of 0.91. LCNB has a 1 year low of $14.56 and a 1 year high of $20.65. The stock has a fifty day simple moving average of $18.15.

LCNB (NASDAQ:LCNB) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The business had revenue of $16.59 million for the quarter, compared to analyst estimates of $16.67 million. LCNB had a net margin of 25.08% and a return on equity of 8.75%. As a group, analysts expect that LCNB will post 1.44 earnings per share for the current year.

In other news, insider John F. Smiley sold 2,087 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $18.16, for a total transaction of $37,899.92. Following the transaction, the insider now directly owns 111,783 shares of the company’s stock, valued at $2,029,979.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John F. Smiley sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $17.12, for a total transaction of $85,600.00. Following the transaction, the insider now directly owns 116,435 shares in the company, valued at $1,993,367.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,517 shares of company stock worth $382,661. 6.45% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Castine Capital Management LLC lifted its position in shares of LCNB by 1.7% during the first quarter. Castine Capital Management LLC now owns 382,687 shares of the bank’s stock worth $6,563,000 after purchasing an additional 6,474 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of LCNB by 492.0% during the first quarter. BNP Paribas Arbitrage SA now owns 1,936 shares of the bank’s stock worth $33,000 after purchasing an additional 1,609 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of LCNB by 3.8% during the second quarter. Bessemer Group Inc. now owns 24,700 shares of the bank’s stock worth $469,000 after purchasing an additional 900 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its position in shares of LCNB by 49.9% during the first quarter. Pacific Ridge Capital Partners LLC now owns 210,800 shares of the bank’s stock worth $3,615,000 after purchasing an additional 70,181 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of LCNB by 58.9% during the fourth quarter. Bank of New York Mellon Corp now owns 94,837 shares of the bank’s stock worth $1,437,000 after purchasing an additional 35,141 shares in the last quarter. 33.57% of the stock is currently owned by institutional investors and hedge funds.

LCNB Company Profile

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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