Hsbc Holdings PLC Takes Position in LCNB Corporation $LCNB

Key Points

• HSBC Holdings PLC has acquired 15,622 shares in LCNB Corporation, valued at approximately $236,000, representing a 0.11% ownership stake.
• LCNB Corporation announced a quarterly dividend of $0.22 per share, which will be paid on September 16th, reflecting a 5.5% annualized yield.
• Despite recent growth, Wall Street analysts have downgraded LCNB from a "buy" to a "hold" rating, with an average price target of $16.25.

Hsbc Holdings PLC acquired a new position in LCNB Corporation (NASDAQ:LCNB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,622 shares of the bank's stock, valued at approximately $236,000. Hsbc Holdings PLC owned about 0.11% of LCNB as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in LCNB by 29.0% in the fourth quarter. Bank of America Corp DE now owns 19,131 shares of the bank's stock worth $289,000 after buying an additional 4,306 shares during the last quarter. Citadel Advisors LLC increased its holdings in LCNB by 11.3% in the fourth quarter. Citadel Advisors LLC now owns 40,722 shares of the bank's stock worth $616,000 after buying an additional 4,122 shares during the last quarter. Raymond James Financial Inc. acquired a new position in LCNB in the fourth quarter worth approximately $330,000. Charles Schwab Investment Management Inc. increased its holdings in LCNB by 2.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 35,803 shares of the bank's stock worth $530,000 after buying an additional 1,000 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in LCNB by 51.4% in the fourth quarter. Deutsche Bank AG now owns 16,396 shares of the bank's stock worth $248,000 after buying an additional 5,565 shares during the last quarter. Institutional investors and hedge funds own 34.73% of the company's stock.

LCNB Stock Performance

LCNB stock traded up $0.22 during midday trading on Thursday, hitting $16.25. 22,339 shares of the company traded hands, compared to its average volume of 16,092. LCNB Corporation has a twelve month low of $13.34 and a twelve month high of $17.92. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.40. The business has a 50 day simple moving average of $15.40 and a 200-day simple moving average of $14.88. The stock has a market capitalization of $230.43 million, a price-to-earnings ratio of 10.91 and a beta of 0.62.

LCNB (NASDAQ:LCNB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. LCNB had a return on equity of 8.26% and a net margin of 16.62%.The company had revenue of $22.79 million for the quarter, compared to the consensus estimate of $16.80 million. As a group, equities research analysts predict that LCNB Corporation will post 1.65 earnings per share for the current year.

LCNB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. LCNB's dividend payout ratio is currently 59.06%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded LCNB from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $16.25.

LCNB Company Profile

LCNB Corp. operates as the financial holding company for LCNB National Bank that provides banking services in Ohio. Its deposit products include checking accounts, demand deposits, savings accounts, NOW and money market deposits, as well as individual retirement accounts and time certificates. The company's loan products comprise commercial and industrial, commercial and residential real estate, agricultural, construction, and small business administration loans; and residential mortgage loans that consists of loans for purchasing or refinancing personal residences, home equity lines of credit, and loans for commercial or consumer purposes secured by residential mortgages.