LCNB (NASDAQ:LCNB) Stock: Insider Michael Robert Miller Sells 1,817 Shares

Key Points

• LCNB EVP Michael Miller sold 1,817 shares at an average price of $20.02, totaling about $36,376. He retained 17,957 shares after the sale, a 9.19% reduction in his position.
• LCNB reported quarterly earnings of $0.51 per share, beating the $0.48 consensus estimate; revenue also exceeded forecasts at $25.02 million.
• The stock rose 3.2% to $20.29 on Wednesday. Analysts’ average rating was “Hold,” with an average price target of $20, and the company’s annualized dividend yield was 4.3%.

LCNB Corporation (NASDAQ:LCNB - Get Free Report) EVP Michael Miller sold 1,817 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $20.02, for a total transaction of $36,376.34. Following the transaction, the executive vice president owned 17,957 shares of the company's stock, valued at $359,499.14. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

LCNB Trading Up 3.2%

NASDAQ LCNB traded up $0.62 during trading hours on Wednesday, hitting $20.29. 34,245 shares of the company were exchanged, compared to its average volume of 30,629. The stock has a market cap of $289.34 million, a PE ratio of 11.59 and a beta of 0.59. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $19.11 and a 200 day moving average price of $17.82. LCNB Corporation has a 52 week low of $14.83 and a 52 week high of $21.32.

LCNB (NASDAQ:LCNB - Get Free Report) last released its quarterly earnings results on Thursday, October 15th. The bank reported $0.51 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $24.65 million. Analysts forecast that LCNB Corporation will post 1.85 earnings per share for the current fiscal year.

LCNB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, September 1st. LCNB's dividend payout ratio (DPR) is currently 50.29%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LCNB. Zacks Research downgraded LCNB from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 15th. Piper Sandler assumed coverage on LCNB in a research note on Thursday, October 8th. They issued a "neutral" rating and a $20.00 price objective for the company. Weiss Ratings raised LCNB from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. Finally, Wall Street Zen upgraded LCNB from a "hold" rating to a "buy" rating in a research report on Sunday, September 6th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $20.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new stake in shares of LCNB in the second quarter valued at $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of LCNB in the 2nd quarter valued at $50,000. Allworth Financial LP acquired a new position in shares of LCNB during the 2nd quarter worth about $119,000. Kimelman & Baird LLC purchased a new position in LCNB in the second quarter valued at approximately $202,000. Finally, Axim Planning & Wealth acquired a new stake in shares of LCNB during the second quarter worth about $202,000. Hedge funds and other institutional investors own 34.73% of the company's stock.

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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