LCNB (NASDAQ:LCNB) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• LCNB stock has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment towards the company.
• As of the last trading session, LCNB's stock price was $15.52, with a market capitalization of approximately $219.92 million.
• LCNB reported earnings of $0.41 per share for the last quarter, surpassing expectations and reflecting a net margin of 16.62%.

LCNB (NASDAQ:LCNB - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

LCNB Trading Down 0.8%

NASDAQ:LCNB traded down $0.13 during mid-day trading on Friday, hitting $15.48. 27,026 shares of the company's stock were exchanged, compared to its average volume of 20,714. The company has a 50 day simple moving average of $14.81 and a 200-day simple moving average of $14.84. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40. LCNB has a fifty-two week low of $13.24 and a fifty-two week high of $17.92. The firm has a market capitalization of $219.35 million, a P/E ratio of 10.39 and a beta of 0.60.

LCNB (NASDAQ:LCNB - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. LCNB had a net margin of 16.62% and a return on equity of 8.33%. The firm had revenue of $22.79 million during the quarter, compared to analyst estimates of $16.80 million. As a group, research analysts expect that LCNB will post 1.65 earnings per share for the current year.

Hedge Funds Weigh In On LCNB

Several institutional investors have recently added to or reduced their stakes in LCNB. MAI Capital Management purchased a new stake in LCNB in the first quarter valued at approximately $32,000. Tower Research Capital LLC TRC grew its stake in shares of LCNB by 240.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,123 shares of the bank's stock valued at $47,000 after acquiring an additional 2,205 shares during the period. Allworth Financial LP boosted its stake in LCNB by 100.0% in the 1st quarter. Allworth Financial LP now owns 6,570 shares of the bank's stock worth $95,000 after purchasing an additional 3,285 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of LCNB during the 1st quarter worth approximately $206,000. Finally, Nuveen LLC purchased a new stake in LCNB in the first quarter worth $228,000. Institutional investors own 34.73% of the company's stock.

About LCNB

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.