Zacks Investment Research cut shares of LCNB (NASDAQ:LCNB) from a hold rating to a sell rating in a research report report published on Thursday.

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. “

LCNB has been the topic of several other reports. ValuEngine upgraded LCNB from a sell rating to a hold rating in a research report on Wednesday, August 8th. BidaskClub downgraded LCNB from a hold rating to a sell rating in a research report on Saturday, August 25th. Finally, Boenning Scattergood restated a hold rating on shares of LCNB in a research report on Tuesday, July 31st.

LCNB opened at $18.70 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market cap of $249.38 million, a price-to-earnings ratio of 14.72 and a beta of 0.38. LCNB has a one year low of $18.05 and a one year high of $22.84.

LCNB (NASDAQ:LCNB) last posted its earnings results on Friday, July 20th. The bank reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.01). LCNB had a return on equity of 8.04% and a net margin of 19.98%. The firm had revenue of $14.16 million for the quarter, compared to analysts’ expectations of $14.45 million. equities analysts anticipate that LCNB will post 1.5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Tuesday, September 4th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.42%. LCNB’s dividend payout ratio is currently 50.39%.

Several large investors have recently modified their holdings of the company. Millennium Management LLC increased its stake in LCNB by 79.2% in the second quarter. Millennium Management LLC now owns 51,630 shares of the bank’s stock valued at $1,017,000 after purchasing an additional 22,815 shares during the last quarter. Bank of America Corp DE increased its stake in LCNB by 928.7% in the second quarter. Bank of America Corp DE now owns 29,914 shares of the bank’s stock valued at $589,000 after purchasing an additional 27,006 shares during the last quarter. Renaissance Technologies LLC increased its stake in LCNB by 24.4% in the second quarter. Renaissance Technologies LLC now owns 147,800 shares of the bank’s stock valued at $2,912,000 after purchasing an additional 29,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in LCNB by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 153,089 shares of the bank’s stock valued at $3,016,000 after purchasing an additional 24,073 shares during the last quarter. Finally, BlackRock Inc. increased its stake in LCNB by 12.4% in the second quarter. BlackRock Inc. now owns 472,313 shares of the bank’s stock valued at $9,305,000 after purchasing an additional 52,203 shares during the last quarter. Institutional investors and hedge funds own 28.26% of the company’s stock.

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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