LCNB (NASDAQ:LCNB) Stock Rating Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded LCNB from “Buy” to “Hold.” Ratings are mixed overall, but MarketBeat reports a consensus “Hold” rating and a $20 price target.
• LCNB reported quarterly EPS of $0.51, beating the $0.48 estimate, and revenue of $25.02 million, above the $24.65 million forecast.
• Executive Vice President Michael Miller sold 1,817 shares at an average price of $20.02; insiders have also bought 1,900 shares in the past three months.

LCNB (NASDAQ:LCNB - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other brokerages have also recently commented on LCNB. Zacks Research cut shares of LCNB from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 15th. Piper Sandler started coverage on shares of LCNB in a research report on Thursday, October 8th. They issued a "neutral" rating and a $20.00 target price for the company. Finally, Weiss Ratings upgraded shares of LCNB from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $20.00.

LCNB Price Performance

LCNB stock opened at $19.59 on Friday. LCNB has a 12 month low of $14.83 and a 12 month high of $21.32. The company has a market capitalization of $279.35 million, a PE ratio of 11.43 and a beta of 0.59. The stock has a 50-day moving average price of $19.14 and a two-hundred day moving average price of $17.87. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.37.

LCNB (NASDAQ:LCNB - Get Free Report) last posted its quarterly earnings results on Thursday, October 15th. The bank reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The firm had revenue of $25.02 million for the quarter, compared to analysts' expectations of $24.65 million. LCNB had a net margin of 20.02% and a return on equity of 9.00%. Analysts expect that LCNB will post 1.85 EPS for the current year.

Insider Transactions at LCNB

In other news, EVP Michael Miller sold 1,817 shares of LCNB stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $20.02, for a total value of $36,376.34. Following the sale, the executive vice president directly owned 17,957 shares of the company's stock, valued at approximately $359,499.14. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have purchased 1,900 shares of company stock worth $37,401 in the last three months. Insiders own 5.67% of the company's stock.

Hedge Funds Weigh In On LCNB

Several large investors have recently bought and sold shares of the stock. Legal & General Group Plc bought a new position in shares of LCNB in the second quarter valued at $25,000. Bank of America Corp DE increased its stake in shares of LCNB by 5.9% in the first quarter. Bank of America Corp DE now owns 37,411 shares of the bank's stock valued at $583,000 after buying an additional 2,079 shares during the period. Ritholtz Wealth Management boosted its holdings in LCNB by 10.4% during the third quarter. Ritholtz Wealth Management now owns 25,828 shares of the bank's stock worth $477,000 after purchasing an additional 2,439 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of LCNB during the 2nd quarter valued at $50,000. Finally, Squarepoint Ops LLC raised its position in LCNB by 16.4% during the 2nd quarter. Squarepoint Ops LLC now owns 20,716 shares of the bank's stock valued at $364,000 after purchasing an additional 2,920 shares during the last quarter. Institutional investors and hedge funds own 34.73% of the company's stock.

LCNB Company Profile

LCNB Corporation is a bank holding company headquartered in Lebanon, Ohio. Its principal subsidiary, LCNB National Bank, operates as a community bank serving individuals, families, businesses and nonprofit organizations.

LCNB National Bank provides a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, home equity financing and agricultural lending. The bank also offers digital banking, treasury management and other cash-management services designed to support personal and business customers.

Through its banking operations, LCNB serves communities primarily in southwestern Ohio and nearby areas of northern Kentucky.

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