Raymond James Financial Inc. Invests $330,000 in LCNB Corp. (NASDAQ:LCNB)

Raymond James Financial Inc. acquired a new stake in shares of LCNB Corp. (NASDAQ:LCNB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,792 shares of the bank's stock, valued at approximately $330,000. Raymond James Financial Inc. owned 0.15% of LCNB at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Hengehold Capital Management LLC raised its stake in shares of LCNB by 156.1% in the fourth quarter. Hengehold Capital Management LLC now owns 42,063 shares of the bank's stock valued at $636,000 after acquiring an additional 25,637 shares during the period. Geode Capital Management LLC grew its stake in LCNB by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 299,492 shares of the bank's stock worth $4,514,000 after acquiring an additional 19,687 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of LCNB by 268.9% during the third quarter. JPMorgan Chase & Co. now owns 20,446 shares of the bank's stock worth $308,000 after acquiring an additional 14,904 shares during the period. Barclays PLC raised its stake in shares of LCNB by 79.3% during the third quarter. Barclays PLC now owns 27,855 shares of the bank's stock valued at $419,000 after acquiring an additional 12,322 shares in the last quarter. Finally, Baker Ellis Asset Management LLC grew its stake in LCNB by 23.6% in the fourth quarter. Baker Ellis Asset Management LLC now owns 26,200 shares of the bank's stock worth $396,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 34.73% of the company's stock.

Wall Street Analyst Weigh In

LCNB has been the topic of a number of recent research reports. Hovde Group initiated coverage on LCNB in a research report on Friday, December 20th. They set a "market perform" rating and a $16.25 price target on the stock. StockNews.com lowered shares of LCNB from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.

LCNB Stock Up 3.2 %

Shares of LCNB traded up $0.44 during mid-day trading on Tuesday, hitting $14.14. 1,787 shares of the company traded hands, compared to its average volume of 22,945. The business has a 50 day moving average of $14.80 and a 200 day moving average of $15.42. The company has a market capitalization of $200.12 million, a PE ratio of 14.57 and a beta of 0.68. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. LCNB Corp. has a 1-year low of $12.42 and a 1-year high of $17.92.

LCNB (NASDAQ:LCNB - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.14. LCNB had a net margin of 10.76% and a return on equity of 7.12%. Equities research analysts anticipate that LCNB Corp. will post 1.65 EPS for the current year.

LCNB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 6.23%. LCNB's dividend payout ratio is currently 90.72%.

LCNB Profile

LCNB Corp. operates as the financial holding company for LCNB National Bank that provides banking services in Ohio. Its deposit products include checking accounts, demand deposits, savings accounts, NOW and money market deposits, as well as individual retirement accounts and time certificates. The company's loan products comprise commercial and industrial, commercial and residential real estate, agricultural, construction, and small business administration loans; and residential mortgage loans that consists of loans for purchasing or refinancing personal residences, home equity lines of credit, and loans for commercial or consumer purposes secured by residential mortgages.