BlackRock Inc. Acquires Shares of 959,927 LCNB Corporation $LCNB

Key Points

• BlackRock acquired 959,927 LCNB shares worth approximately $16.9 million, giving it a 6.74% stake. Institutional investors and hedge funds collectively own 34.73% of the bank.
• LCNB reported quarterly EPS of $0.53, beating estimates of $0.44, while revenue reached $25.14 million versus expectations of $24.00 million.
• The company declared a quarterly dividend of $0.22, or $0.88 annualized, representing a 4.6% yield. Analyst sentiment remains positive overall, with MarketBeat reporting an average “Strong Buy” rating despite one recent downgrade to “Hold.”

BlackRock Inc. acquired a new position in shares of LCNB Corporation (NASDAQ:LCNB - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 959,927 shares of the bank's stock, valued at approximately $16,885,000. BlackRock Inc. owned about 6.74% of LCNB at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LCNB. NewEdge Advisors LLC bought a new stake in LCNB in the first quarter valued at $206,000. Goldman Sachs Group Inc. boosted its stake in LCNB by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 38,804 shares of the bank's stock valued at $574,000 after purchasing an additional 1,851 shares during the period. Empowered Funds LLC increased its position in LCNB by 7.0% in the 1st quarter. Empowered Funds LLC now owns 52,377 shares of the bank's stock valued at $775,000 after acquiring an additional 3,421 shares during the period. Geode Capital Management LLC raised its stake in LCNB by 5.4% during the 2nd quarter. Geode Capital Management LLC now owns 326,509 shares of the bank's stock valued at $4,746,000 after acquiring an additional 16,739 shares in the last quarter. Finally, Rhumbline Advisers grew its position in LCNB by 39.3% in the 2nd quarter. Rhumbline Advisers now owns 16,605 shares of the bank's stock valued at $241,000 after buying an additional 4,685 shares in the last quarter. 34.73% of the stock is currently owned by institutional investors and hedge funds.

LCNB Stock Down 0.5%

NASDAQ:LCNB opened at $19.10 on Friday. The business's fifty day moving average price is $19.18 and its 200 day moving average price is $17.50. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $272.37 million, a price-to-earnings ratio of 11.04 and a beta of 0.55. LCNB Corporation has a 1-year low of $14.31 and a 1-year high of $21.32.

LCNB (NASDAQ:LCNB - Get Free Report) last posted its quarterly 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. The business had revenue of $25.14 million during the quarter, compared to analysts' expectations of $24.00 million. LCNB had a net margin of 19.69% and a return on equity of 8.92%. On average, sell-side analysts forecast that LCNB Corporation will post 1.73 earnings per share for the current fiscal year.

LCNB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.88 annualized dividend and a dividend yield of 4.6%. LCNB's payout ratio is presently 50.87%.

Analyst Ratings Changes

Several equities research analysts recently commented on LCNB shares. Weiss Ratings raised LCNB from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 8th. Zacks Research upgraded LCNB from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Finally, Wall Street Zen lowered LCNB from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Strong Buy".

LCNB 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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