LCNB (NASDAQ:LCNB) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of LCNB (NASDAQ:LCNB) from a strong-buy rating to a hold rating in a research note published on Wednesday, 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, Boenning Scattergood upgraded LCNB from a neutral rating to an outperform rating and set a $17.50 price target for the company in a research report on Tuesday, January 12th.

Shares of LCNB stock opened at $17.76 on Wednesday. The firm has a market capitalization of $227.59 million, a price-to-earnings ratio of 12.00 and a beta of 0.90. LCNB has a fifty-two week low of $10.53 and a fifty-two week high of $19.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50 day moving average of $17.96 and a 200 day moving average of $15.63.

LCNB (NASDAQ:LCNB) last issued its quarterly earnings data on Monday, February 1st. The bank reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.09. LCNB had a return on equity of 8.18% and a net margin of 22.10%. The company had revenue of $18.82 million during the quarter, compared to analyst estimates of $17.80 million. Analysts forecast that LCNB will post 1.45 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, February 26th. This represents a $0.76 dividend on an annualized basis and a yield of 4.28%. LCNB’s dividend payout ratio (DPR) is presently 52.05%.

A number of large investors have recently added to or reduced their stakes in LCNB. Citigroup Inc. boosted its holdings in LCNB by 318.1% in the fourth quarter. Citigroup Inc. now owns 2,446 shares of the bank’s stock valued at $36,000 after purchasing an additional 1,861 shares during the period. Bartlett & Co. LLC boosted its holdings in LCNB by 77.9% in the fourth quarter. Bartlett & Co. LLC now owns 6,050 shares of the bank’s stock valued at $89,000 after purchasing an additional 2,650 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in LCNB in the fourth quarter valued at $158,000. Rhumbline Advisers boosted its holdings in LCNB by 27.7% in the fourth quarter. Rhumbline Advisers now owns 18,853 shares of the bank’s stock valued at $277,000 after purchasing an additional 4,088 shares during the period. Finally, Zebra Capital Management LLC raised its stake in LCNB by 62.9% in the third quarter. Zebra Capital Management LLC now owns 22,057 shares of the bank’s stock valued at $301,000 after buying an additional 8,519 shares in the last quarter. Hedge funds and other institutional investors own 38.62% 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. The company's deposit products include checking accounts, demand deposits, savings accounts, and money market deposits, as well as certificates of deposit. Its loan products comprise commercial and industrial, commercial and residential real estate, agricultural, construction, small business administration, and residential mortgage loans.

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