LCNB (NASDAQ:LCNB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, Zacks.com 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 restated a “hold” rating on shares of LCNB in a research note on Thursday, February 7th.

NASDAQ LCNB opened at $17.18 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.90. LCNB has a twelve month low of $14.56 and a twelve month high of $20.65. The stock has a market capitalization of $228.40 million, a P/E ratio of 12.36 and a beta of 0.52.

LCNB (NASDAQ:LCNB) last released its earnings results on Thursday, April 18th. The bank reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. LCNB had a net margin of 22.58% and a return on equity of 8.26%. The business had revenue of $16.16 million during the quarter, compared to analysts’ expectations of $16.19 million. As a group, sell-side analysts anticipate that LCNB will post 1.58 earnings per share for the current year.

In other LCNB news, Director William G. Huddle sold 3,495 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $17.10, for a total transaction of $59,764.50. Following the completion of the transaction, the director now owns 147,400 shares in the company, valued at $2,520,540. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William G. Huddle sold 6,000 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $17.16, for a total transaction of $102,960.00. Following the transaction, the director now owns 147,400 shares of the company’s stock, valued at approximately $2,529,384. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,782 shares of company stock valued at $558,906. Corporate insiders own 6.45% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Ramsey Quantitative Systems lifted its stake in LCNB by 149.6% during the fourth quarter. Ramsey Quantitative Systems now owns 1,665 shares of the bank’s stock worth $25,000 after purchasing an additional 998 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of LCNB by 492.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,936 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,609 shares during the last quarter. WealthBridge Capital Management LLC bought a new position in shares of LCNB in the first quarter valued at approximately $118,000. Acadian Asset Management LLC raised its stake in shares of LCNB by 85.7% in the first quarter. Acadian Asset Management LLC now owns 10,696 shares of the bank’s stock valued at $184,000 after acquiring an additional 4,937 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of LCNB by 51.9% in the fourth quarter. Bessemer Group Inc. now owns 12,300 shares of the bank’s stock valued at $186,000 after acquiring an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 31.61% of the company’s stock.

LCNB Company Profile

LCNB Corp. operates as the financial holding company for LCNB National Bank that provides commercial and personal banking services in Ohio. The company's 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.

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