Insider Buying: LCNB (NASDAQ:LCNB) Director Purchases $19,790.00 in Stock

Key Points

• LCNB director Anne Krehbiel bought 1,000 shares at $19.79 each, investing $19,790 and increasing her direct ownership by 8.25% to 13,122 shares.
• LCNB’s latest quarterly results exceeded expectations, with earnings per share of $0.51 versus the $0.48 consensus estimate and revenue of $25.02 million.
• The bank pays a quarterly dividend of $0.22, or $0.88 annually, for a roughly 4.5% yield; analysts’ consensus rating is “Hold” with a $20 price target.

LCNB Corporation (NASDAQ:LCNB - Get Free Report) Director Anne Krehbiel acquired 1,000 shares of the firm's stock in a transaction dated Monday, October 26th. The stock was purchased at an average cost of $19.79 per share, with a total value of $19,790.00. Following the completion of the acquisition, the director directly owned 13,122 shares of the company's stock, valued at approximately $259,684.38. This trade represents a 8.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

LCNB Stock Performance

NASDAQ LCNB traded down $0.14 during trading on Wednesday, reaching $19.66. The company's stock had a trading volume of 3,819 shares, compared to its average volume of 30,659. The firm has a market cap of $280.42 million, a price-to-earnings ratio of 11.24 and a beta of 0.57. LCNB Corporation has a twelve month low of $14.83 and a twelve month high of $21.32. The business's fifty day moving average price is $19.10 and its 200-day moving average price is $17.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 0.94.

LCNB (NASDAQ:LCNB - Get Free Report) last posted its quarterly earnings data on Thursday, October 15th. The bank reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. LCNB had a return on equity of 9.00% and a net margin of 20.02%. The company had revenue of $25.02 million during the quarter, compared to analysts' expectations of $24.65 million. As a group, analysts anticipate that LCNB Corporation will post 1.85 EPS for the current fiscal year.

LCNB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a $0.22 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.88 dividend on an annualized basis and a yield of 4.5%. LCNB's dividend payout ratio (DPR) is presently 50.29%.

Wall Street Analysts Forecast Growth

LCNB has been the topic of several research analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of LCNB in a research report on Friday, October 2nd. Wall Street Zen upgraded shares of LCNB from a "hold" rating to a "buy" rating in a research note on Sunday, September 6th. Zacks Research cut shares of LCNB from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 15th. Finally, Piper Sandler assumed coverage on shares of LCNB in a report on Thursday, October 8th. They set a "neutral" rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $20.00.

Institutional Trading of LCNB

A number of hedge funds have recently added to or reduced their stakes in LCNB. Squarepoint Ops LLC boosted its holdings in LCNB by 16.4% in the second quarter. Squarepoint Ops LLC now owns 20,716 shares of the bank's stock valued at $364,000 after acquiring an additional 2,920 shares during the last quarter. Hsbc Holdings PLC increased its stake in LCNB by 9.9% during the second quarter. Hsbc Holdings PLC now owns 48,522 shares of the bank's stock worth $849,000 after acquiring an additional 4,357 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in LCNB during the second quarter worth about $202,000. Empowered Funds LLC acquired a new stake in LCNB during the second quarter worth about $1,431,000. Finally, Axim Planning & Wealth purchased a new position in shares of LCNB in the 2nd quarter worth about $202,000. 34.73% of the stock is owned by institutional investors and hedge funds.

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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