LCNB Corp. (NASDAQ:LCNB) Sees Large Decline in Short Interest

LCNB Corp. (NASDAQ:LCNB - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 75,800 shares, a drop of 21.1% from the February 28th total of 96,100 shares. Based on an average trading volume of 21,200 shares, the days-to-cover ratio is presently 3.6 days. Approximately 0.6% of the shares of the company are short sold.

LCNB Stock Performance

Shares of NASDAQ:LCNB traded down $0.43 during mid-day trading on Friday, reaching $13.57. The company had a trading volume of 25,776 shares, compared to its average volume of 22,589. LCNB has a one year low of $12.42 and a one year high of $17.92. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61. The company's 50-day moving average price is $15.04 and its 200-day moving average price is $15.50. The firm has a market cap of $192.12 million, a price-to-earnings ratio of 13.99 and a beta of 0.68.

LCNB (NASDAQ:LCNB - Get Free Report) last issued its earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.14. LCNB had a return on equity of 7.12% and a net margin of 10.76%. As a group, equities research analysts anticipate that LCNB will post 1.65 EPS for the current fiscal year.

LCNB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 6.48%. The ex-dividend date of this dividend was Monday, March 3rd. LCNB's dividend payout ratio (DPR) is presently 90.72%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LCNB. Hovde Group started coverage on LCNB in a research note on Friday, December 20th. They issued a "market perform" rating and a $16.25 price objective for the company. StockNews.com upgraded shares of LCNB from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd.

Hedge Funds Weigh In On LCNB

Several large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of LCNB by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,803 shares of the bank's stock valued at $527,000 after buying an additional 750 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in LCNB by 3.6% during the 4th quarter. Bank of New York Mellon Corp now owns 51,261 shares of the bank's stock valued at $776,000 after acquiring an additional 1,773 shares during the period. State Street Corp lifted its position in shares of LCNB by 1.3% during the third quarter. State Street Corp now owns 153,579 shares of the bank's stock worth $2,314,000 after acquiring an additional 2,025 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of LCNB by 240.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,123 shares of the bank's stock worth $47,000 after acquiring an additional 2,205 shares during the period. Finally, Barclays PLC grew its position in shares of LCNB by 8.9% in the fourth quarter. Barclays PLC now owns 30,325 shares of the bank's stock valued at $459,000 after purchasing an additional 2,470 shares in the last quarter. Hedge funds and other institutional investors own 34.73% of the company's stock.

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.