Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in LCNB Corporation $LCNB

Key Points

• Connor Clark & Lunn Investment Management acquired 61,680 LCNB shares worth approximately $1.09 million, giving it a 0.43% stake. Institutional investors and hedge funds collectively own 34.73% of the company.
• LCNB reported quarterly earnings of $0.53 per share, exceeding estimates of $0.44, while revenue reached $25.14 million versus the $24 million consensus.
• The bank declared a quarterly dividend of $0.22 per share, equivalent to an annualized $0.88 payout and a 4.5% yield. Analysts’ consensus rating is currently “Strong Buy.”

Connor Clark & Lunn Investment Management Ltd. 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 61,680 shares of the bank's stock, valued at approximately $1,085,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.43% of LCNB at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co raised its holdings in shares of LCNB by 57.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,648 shares of the bank's stock worth $27,000 after purchasing an additional 603 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of LCNB in the 2nd quarter valued at about $50,000. BNP Paribas Financial Markets boosted its holdings in shares of LCNB by 182.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,602 shares of the bank's stock valued at $54,000 after buying an additional 2,328 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of LCNB by 202.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,803 shares of the bank's stock valued at $55,000 after buying an additional 2,546 shares during the period. Finally, Allworth Financial LP bought a new stake in shares of LCNB during the 2nd quarter valued at about $119,000. Institutional investors and hedge funds own 34.73% of the company's stock.

LCNB Stock Performance

LCNB stock opened at $19.43 on Monday. The company has a 50-day simple moving average of $19.05 and a 200 day simple moving average of $17.45. The company has a market capitalization of $277.07 million, a P/E ratio of 11.23 and a beta of 0.56. 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 Corporation has a fifty-two week low of $14.31 and a fifty-two week high of $21.32.

LCNB (NASDAQ:LCNB - Get Free Report) last issued 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. The company had revenue of $25.14 million during the quarter, compared to analyst estimates of $24.00 million. LCNB had a net margin of 19.69% and a return on equity of 8.92%. Sell-side analysts predict that LCNB Corporation will post 1.73 earnings per share for the current fiscal year.

LCNB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.88 annualized dividend and a yield of 4.5%. LCNB's payout ratio is presently 50.87%.

Analyst Ratings Changes

LCNB has been the topic of several research reports. Weiss Ratings upgraded shares of LCNB from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 8th. Zacks Research upgraded LCNB from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen lowered LCNB from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus 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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