Bank of New York Mellon Corp Purchases New Holdings in LCNB Corporation $LCNB

Key Points

• Bank of New York Mellon purchased 57,300 shares of LCNB Corporation worth approximately $1.0 million, becoming an estimated 0.40% owner. Institutional investors and hedge funds collectively own 34.73% of the bank.
• LCNB reported quarterly earnings of $0.53 per share, beating estimates of $0.44, while revenue reached $25.14 million versus expectations of $24.00 million.
• LCNB declared a quarterly dividend of $0.22 per share, equivalent to an annualized $0.88 payout and a 4.6% yield. Analysts have upgraded the stock, giving it a consensus “Strong Buy” rating.

Bank of New York Mellon Corp purchased a new position in LCNB Corporation (NASDAQ:LCNB - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 57,300 shares of the bank's stock, valued at approximately $1,008,000. Bank of New York Mellon Corp owned approximately 0.40% of LCNB as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Segall Bryant & Hamill LLC bought a new stake in LCNB during the 1st quarter valued at $802,000. Kestra Advisory Services LLC acquired a new stake in shares of LCNB during the first quarter worth $455,000. Dimensional Fund Advisors LP raised its holdings 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 buying an additional 28,883 shares during the period. Maltese Capital Management LLC purchased a new stake in shares of LCNB in the 4th quarter valued at approximately $336,000. Finally, Bailard Inc. purchased a new position in shares of LCNB during the fourth quarter valued at $312,000. 34.73% of the stock is owned by institutional investors and hedge funds.

LCNB Stock Performance

Shares of LCNB stock opened at $19.20 on Friday. LCNB Corporation has a 52 week low of $14.31 and a 52 week high of $21.32. The firm has a fifty day moving average of $19.31 and a two-hundred day moving average of $17.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $273.79 million, a price-to-earnings ratio of 11.10 and a beta of 0.55.

LCNB (NASDAQ:LCNB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The bank reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates 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, equities research analysts predict that LCNB Corporation will post 1.73 EPS for the current year.

LCNB Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen raised LCNB from a "hold" rating to a "buy" rating in a research report on Sunday, September 6th. Zacks Research upgraded shares of LCNB from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of LCNB from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Strong Buy".

LCNB Company Profile

LCNB Financial Corp NASDAQ: LCNB is the bank holding company for LCNB National Bank, a community-focused regional bank headquartered in Cincinnati, Ohio. Through its banking subsidiary, LCNB provides a full suite of deposit and lending solutions designed to meet the needs of individual consumers, small businesses, and middle-market commercial clients. The company emphasizes personalized service, offering checking, savings, money market, and certificate of deposit accounts alongside digital and mobile banking platforms.

On the lending side, LCNB National Bank extends a range of credit products, including commercial and industrial loans, real estate and construction financing, agricultural loans, residential mortgages, and consumer lending.

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