LCNB (NASDAQ:LCNB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “

Several other equities research analysts have also weighed in on the company. ValuEngine raised LCNB from a “sell” rating to a “hold” rating in a research report on Friday, December 21st. Boenning Scattergood reaffirmed a “hold” rating on shares of LCNB in a research report on Thursday, February 7th.

Shares of NASDAQ LCNB opened at $16.76 on Thursday. LCNB has a 1-year low of $14.56 and a 1-year high of $20.65. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $227.58 million, a price-to-earnings ratio of 12.06 and a beta of 0.54.

LCNB (NASDAQ:LCNB) last issued its earnings results on Wednesday, January 30th. The bank reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.04. LCNB had a return on equity of 8.37% and a net margin of 21.42%. The firm had revenue of $16.21 million for the quarter, compared to analyst estimates of $16.46 million. Sell-side analysts anticipate that LCNB will post 1.58 EPS for the current fiscal year.

In other LCNB news, Director William G. Huddle sold 6,000 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $17.16, for a total value of $102,960.00. Following the sale, the director now directly owns 147,400 shares of the company’s stock, valued at $2,529,384. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John F. Smiley sold 7,400 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $17.00, for a total value of $125,800.00. Following the transaction, the insider now directly owns 128,870 shares in the company, valued at $2,190,790. The disclosure for this sale can be found here. Insiders sold 16,129 shares of company stock worth $275,205 over the last ninety days. 4.14% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Ramsey Quantitative Systems increased its holdings in shares of LCNB by 149.6% during the fourth quarter. Ramsey Quantitative Systems now owns 1,665 shares of the bank’s stock valued at $25,000 after purchasing an additional 998 shares during the period. Bessemer Group Inc. increased its holdings in shares of LCNB by 51.9% during the fourth quarter. Bessemer Group Inc. now owns 12,300 shares of the bank’s stock valued at $186,000 after purchasing an additional 4,200 shares during the period. Rhumbline Advisers acquired a new position in shares of LCNB during the fourth quarter valued at $193,000. LSV Asset Management increased its holdings in shares of LCNB by 37.5% during the third quarter. LSV Asset Management now owns 12,100 shares of the bank’s stock valued at $225,000 after purchasing an additional 3,300 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of LCNB by 71.9% during the fourth quarter. Millennium Management LLC now owns 18,994 shares of the bank’s stock valued at $288,000 after purchasing an additional 7,946 shares during the period. 31.63% of the stock is currently owned by institutional investors.

About LCNB

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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