LCNB (NASDAQ:LCNB) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of LCNB (NASDAQ:LCNB) from a sell rating to a hold rating in a report published on Tuesday, December 19th. Zacks Investment Research currently has $23.00 price objective on the bank’s stock.

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. “

Other equities research analysts have also recently issued reports about the stock. Boenning Scattergood reaffirmed a hold rating on shares of LCNB in a research report on Thursday, October 19th. ValuEngine upgraded shares of LCNB from a hold rating to a buy rating in a research note on Tuesday, September 26th.

Shares of LCNB (NASDAQ LCNB) opened at $21.10 on Tuesday. LCNB has a fifty-two week low of $18.05 and a fifty-two week high of $24.35. The company has a market cap of $211.40, a price-to-earnings ratio of 16.23 and a beta of 0.41.

LCNB (NASDAQ:LCNB) last released its earnings results on Wednesday, October 18th. The bank reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The firm had revenue of $12.81 million during the quarter, compared to analyst estimates of $13.05 million. LCNB had a net margin of 23.84% and a return on equity of 8.88%. equities research analysts predict that LCNB will post 1.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a $0.16 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 3.03%. LCNB’s dividend payout ratio (DPR) is currently 49.23%.

In other news, Chairman Stephen P. Wilson sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $21.56, for a total transaction of $38,808.00. Following the completion of the sale, the chairman now owns 60,293 shares of the company’s stock, valued at approximately $1,299,917.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Stephen P. Wilson sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $21.08, for a total transaction of $42,160.00. Following the sale, the chairman now directly owns 63,093 shares of the company’s stock, valued at approximately $1,330,000.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,800 shares of company stock worth $102,278. 4.16% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. bought a new position in LCNB in the 2nd quarter valued at approximately $110,000. Ameriprise Financial Inc. lifted its stake in LCNB by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,736 shares of the bank’s stock valued at $295,000 after purchasing an additional 2,269 shares during the last quarter. Teachers Advisors LLC lifted its stake in LCNB by 6.6% in the 2nd quarter. Teachers Advisors LLC now owns 16,342 shares of the bank’s stock valued at $327,000 after purchasing an additional 1,016 shares during the last quarter. John W. Rosenthal Capital Management Inc. bought a new position in LCNB in the 3rd quarter valued at approximately $367,000. Finally, Wells Fargo & Company MN lifted its stake in LCNB by 22.1% in the 3rd quarter. Wells Fargo & Company MN now owns 19,997 shares of the bank’s stock valued at $419,000 after purchasing an additional 3,618 shares during the last quarter. 37.36% of the stock is owned by institutional investors and hedge funds.

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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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