LCNB (NASDAQ:LCNB) Cut to “Hold” at Zacks Research

LCNB (NASDAQ:LCNB) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

LCNB has been the subject of several other reports. Weiss Ratings raised LCNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 8th. Wall Street Zen upgraded LCNB from a “hold” rating to a “buy” rating in a report on Sunday, September 6th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

LCNB Stock Down 1.3%

Shares of NASDAQ LCNB opened at $19.21 on Tuesday. The company has a market capitalization of $273.93 million, a P/E ratio of 11.10 and a beta of 0.55. LCNB has a 52-week low of $14.31 and a 52-week high of $21.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 0.94. The company’s 50 day moving average price is $19.43 and its 200-day moving average price is $17.62.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings data on Wednesday, July 15th. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. The company had revenue of $25.14 million during the quarter, compared to analysts’ expectations of $24.00 million. LCNB had a net margin of 19.69% and a return on equity of 8.92%. Equities analysts forecast that LCNB will post 1.73 earnings per share for the current year.

Hedge Funds Weigh In On LCNB

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC increased its position in LCNB by 16.4% in the 2nd quarter. Squarepoint Ops LLC now owns 20,716 shares of the bank’s stock valued at $364,000 after buying an additional 2,920 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of LCNB by 9.9% during the second quarter. Hsbc Holdings PLC now owns 48,522 shares of the bank’s stock valued at $849,000 after acquiring an additional 4,357 shares in the last quarter. Kimelman & Baird LLC bought a new stake in shares of LCNB during the second quarter valued at approximately $202,000. Empowered Funds LLC acquired a new position in shares of LCNB during the second quarter worth approximately $1,431,000. Finally, Axim Planning & Wealth acquired a new position in shares of LCNB during the second quarter worth approximately $202,000. Institutional investors own 34.73% of the company’s stock.

About LCNB

LCNB Corporation is a bank holding company headquartered in Lebanon, Ohio. Its principal subsidiary, LCNB National Bank, provides community banking services to individuals, families, businesses and institutions.

The bank offers a range of deposit products, residential and commercial lending, consumer loans, cash-management services and other business banking solutions. It also provides trust, wealth management and investment-related services through its banking and financial services operations.

LCNB serves customers primarily through its branch network and digital banking channels in southwestern and central Ohio, with additional operations in nearby markets.