LCNB (NASDAQ:LCNB) Lowered to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded LCNB from “strong buy” to “hold,” although other recent ratings were positive and MarketBeat reports a consensus “Moderate Buy” rating.
• LCNB shares opened at $19.21, down 1.3%, with a market capitalization of approximately $273.9 million and a 52-week range of $14.31 to $21.32.
• The bank exceeded quarterly expectations, reporting EPS of $0.53 versus a $0.44 estimate and revenue of $25.14 million versus $24.00 million expected. Institutional investors and hedge funds own 34.73% of the stock.

LCNB (NASDAQ:LCNB - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday, Zacks reports.

LCNB has been the topic of a number of other reports. Wall Street Zen upgraded shares of LCNB from a "hold" rating to a "buy" rating in a research note on Sunday, September 6th. Weiss Ratings raised shares of LCNB from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, LCNB presently has a consensus rating of "Moderate Buy".

LCNB Stock Down 1.3%

LCNB stock opened at $19.21 on Tuesday. LCNB has a twelve month low of $14.31 and a twelve month high of $21.32. The stock has a market cap of $273.93 million, a P/E ratio of 11.10 and a beta of 0.55. The company's 50-day moving average price is $19.43 and its two-hundred day moving average price is $17.62. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.37.

LCNB (NASDAQ:LCNB - Get Free Report) last announced its earnings results on Wednesday, July 15th. The bank reported $0.53 EPS for the quarter, topping 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 company had revenue of $25.14 million for the quarter, compared to analysts' expectations of $24.00 million. As a group, analysts expect that LCNB will post 1.73 EPS for the current year.

Hedge Funds Weigh In On LCNB

Several institutional investors and hedge funds have recently added to or reduced their stakes in LCNB. BlackRock Inc. acquired a new position in shares of LCNB during the second quarter worth $16,885,000. Lcnb Corp raised its position in LCNB by 0.9% during the 4th quarter. Lcnb Corp now owns 506,663 shares of the bank's stock worth $8,304,000 after purchasing an additional 4,675 shares during the last quarter. Dimensional Fund Advisors LP raised its position in LCNB by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 523,527 shares of the bank's stock worth $8,162,000 after purchasing an additional 28,883 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in LCNB by 13.2% during the 1st quarter. Renaissance Technologies LLC now owns 156,283 shares of the bank's stock worth $2,436,000 after buying an additional 18,167 shares during the period. Finally, Empowered Funds LLC acquired a new position in LCNB during the 2nd quarter worth about $1,431,000. 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. 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.

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