LCNB (NASDAQ:LCNB) Stock Lifted to Hold by Piper Sandler

Piper Sandler upgraded shares of LCNB (NASDAQ:LCNB) to a hold rating in a research report released on Thursday, Marketbeat reports.

LCNB has been the subject of several other research reports. Weiss Ratings reissued a “buy (b)” rating on shares of LCNB in a research note on Friday, October 2nd. Wall Street Zen raised LCNB from a “hold” rating to a “buy” rating in a research note on Sunday, September 6th. Finally, Zacks Research cut LCNB from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 15th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.

LCNB Stock Performance

NASDAQ:LCNB opened at $18.94 on Thursday. The company’s 50-day moving average is $19.29 and its two-hundred day moving average is $17.88. LCNB has a 1-year low of $14.31 and a 1-year high of $21.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $269.99 million, a price-to-earnings ratio of 10.95 and a beta of 0.57.

LCNB (NASDAQ:LCNB) last released its quarterly earnings results on Wednesday, July 15th. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.44 by $0.09. LCNB had a net margin of 19.69% and a return on equity of 8.92%. The firm had revenue of $25.14 million for the quarter, compared to analyst estimates of $24.00 million. Analysts forecast that LCNB will post 1.73 EPS for the current year.

LCNB Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.6%. The ex-dividend date was Tuesday, September 1st. LCNB’s dividend payout ratio (DPR) is 50.87%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in shares of LCNB in the second quarter valued at $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in LCNB during the 2nd quarter worth approximately $50,000. Allworth Financial LP acquired a new stake in LCNB during the 2nd quarter worth approximately $119,000. Axim Planning & Wealth acquired a new stake in LCNB during the 2nd quarter worth approximately $202,000. Finally, Kimelman & Baird LLC purchased a new position in LCNB in the 2nd quarter valued at approximately $202,000. 34.73% of the stock is currently owned by institutional investors and hedge funds.

LCNB Company Profile

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

LCNB National Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, business financing and other credit products. Its services also include online and mobile banking, treasury management, wealth management, trust services and investment services.

The bank primarily serves communities in southwestern and central Ohio, with additional operations in northern Kentucky.