Pacific Ridge Capital Partners LLC Acquires 41,044 Shares of LCNB Corp. (LCNB)

Pacific Ridge Capital Partners LLC grew its holdings in shares of LCNB Corp. (NASDAQ:LCNB) by 41.8% during the third quarter, HoldingsChannel.com reports. The firm owned 139,310 shares of the bank’s stock after purchasing an additional 41,044 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in LCNB were worth $2,598,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. LSV Asset Management increased its stake in LCNB by 37.5% during the third quarter. LSV Asset Management now owns 12,100 shares of the bank’s stock worth $225,000 after purchasing an additional 3,300 shares during the period. Strs Ohio increased its stake in LCNB by 23.4% during the second quarter. Strs Ohio now owns 19,500 shares of the bank’s stock worth $384,000 after purchasing an additional 3,700 shares during the period. Bank of New York Mellon Corp increased its stake in LCNB by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 59,696 shares of the bank’s stock worth $1,113,000 after purchasing an additional 5,720 shares during the period. Panagora Asset Management Inc. increased its stake in LCNB by 15.7% during the third quarter. Panagora Asset Management Inc. now owns 50,938 shares of the bank’s stock worth $950,000 after purchasing an additional 6,928 shares during the period. Finally, BlackRock Inc. increased its stake in LCNB by 2.1% during the third quarter. BlackRock Inc. now owns 482,399 shares of the bank’s stock worth $8,997,000 after purchasing an additional 10,086 shares during the period. Institutional investors own 30.86% of the company’s stock.

A number of brokerages have issued reports on LCNB. ValuEngine lowered shares of LCNB from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. BidaskClub lowered shares of LCNB from a “hold” rating to a “sell” rating in a research note on Saturday, August 25th. Boenning Scattergood reiterated a “hold” rating on shares of LCNB in a research note on Tuesday, October 23rd. Finally, Zacks Investment Research raised LCNB from a “sell” rating to a “hold” rating in a research report on Friday, August 24th.

Shares of LCNB stock opened at $15.76 on Friday. LCNB Corp. has a one year low of $15.44 and a one year high of $22.84. The stock has a market cap of $211.82 million, a PE ratio of 12.06 and a beta of 0.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

LCNB (NASDAQ:LCNB) last announced its quarterly earnings data on Friday, October 19th. The bank reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.05). LCNB had a return on equity of 8.09% and a net margin of 20.37%. The company had revenue of $16.02 million for the quarter, compared to analyst estimates of $16.92 million. On average, sell-side analysts predict that LCNB Corp. will post 1.4 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 30th. This is an increase from LCNB’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.31%. LCNB’s payout ratio is currently 53.54%.

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LCNB Company Profile

LCNB Corp., a financial holding company, provides commercial and personal banking services in Ohio. Its 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. The company's loan portfolio comprises commercial and industrial, commercial and residential real estate, agricultural, construction, small business administration, and residential mortgage loans.

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Institutional Ownership by Quarter for LCNB (NASDAQ:LCNB)

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