LCNB (NASDAQ:LCNB) Raised to "Hold" at Piper Sandler

Key Points

• Piper Sandler upgraded LCNB to “Hold”, bringing the stock’s consensus rating to “Hold” with an average price target of $20.00.
• LCNB reported quarterly EPS of $0.53, exceeding the $0.44 analyst consensus, while revenue of $25.14 million also topped estimates.
• Institutional ownership stands at 34.73%, following significant second-quarter purchases by BlackRock and other investment firms.

LCNB (NASDAQ:LCNB - Get Free Report) was upgraded by stock analysts at Piper Sandler to a "hold" rating in a research note issued to investors on Thursday, Marketbeat.com reports.

A number of other brokerages have also weighed in on LCNB. Weiss Ratings reissued a "buy (b)" rating on shares of LCNB in a report on Friday, October 2nd. Wall Street Zen upgraded LCNB from a "hold" rating to a "buy" rating in a research note on Sunday, September 6th. Finally, Zacks Research downgraded LCNB from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 15th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $20.00.

LCNB Price Performance

Shares of LCNB opened at $18.94 on Thursday. The firm has a market capitalization of $269.99 million, a PE ratio of 10.95 and a beta of 0.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.94 and a quick ratio of 0.94. LCNB has a 1-year low of $14.31 and a 1-year high of $21.32. The company's fifty day moving average price is $19.29 and its 200-day moving average price is $17.88.

LCNB (NASDAQ:LCNB - Get Free Report) last issued its earnings results on Wednesday, July 15th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.09. LCNB had a return on equity of 8.92% and a net margin of 19.69%.The company had revenue of $25.14 million during the quarter, compared to analyst estimates of $24.00 million. On average, equities research analysts predict that LCNB will post 1.73 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LCNB. BlackRock Inc. purchased a new stake in LCNB during the 2nd quarter worth approximately $16,885,000. Empowered Funds LLC purchased a new position in shares of LCNB in the second quarter valued at approximately $1,431,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of LCNB in the second quarter worth approximately $1,085,000. Bank of New York Mellon Corp acquired a new stake in shares of LCNB in the second quarter worth approximately $1,008,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of LCNB during the second quarter worth approximately $849,000. Hedge funds and other institutional investors own 34.73% of the company's stock.

About LCNB

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.

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