LCNB (NASDAQ:LCNB) Posts Quarterly Earnings Results

Key Points

• LCNB reported quarterly earnings of $0.49 per share, exceeding the consensus estimate of $0.42 by $0.07.
• The company also announced a quarterly dividend of $0.22 per share, reflecting an annualized dividend yield of 5.9%.
• Institutional investors have been actively trading LCNB, with Tower Research Capital increasing its stake by 202.5% during the second quarter.

LCNB (NASDAQ:LCNB - Get Free Report) issued its quarterly earnings data on Wednesday. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.07, Zacks reports. LCNB had a return on equity of 8.26% and a net margin of 16.62%.

LCNB Trading Up 0.7%

Shares of NASDAQ LCNB traded up $0.11 during trading on Wednesday, hitting $14.83. 26,579 shares of the company traded hands, compared to its average volume of 21,086. The company has a 50-day moving average price of $15.45 and a 200-day moving average price of $14.96. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.40. LCNB has a 1 year low of $13.34 and a 1 year high of $17.92. The firm has a market capitalization of $210.23 million, a P/E ratio of 9.95 and a beta of 0.58.

LCNB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.88 annualized dividend and a dividend yield of 5.9%. LCNB's payout ratio is currently 59.06%.

Institutional Trading of LCNB

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its position in LCNB by 202.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,803 shares of the bank's stock worth $55,000 after purchasing an additional 2,546 shares during the period. Jane Street Group LLC purchased a new position in LCNB in the 2nd quarter valued at about $173,000. NewEdge Advisors LLC purchased a new position in LCNB in the 1st quarter valued at about $206,000. Rhumbline Advisers boosted its position in LCNB by 39.3% in the 2nd quarter. Rhumbline Advisers now owns 16,605 shares of the bank's stock valued at $241,000 after buying an additional 4,685 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in LCNB by 5.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 38,804 shares of the bank's stock valued at $574,000 after buying an additional 1,851 shares during the last quarter. 34.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LCNB shares. Weiss Ratings restated a "hold (c+)" rating on shares of LCNB in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of LCNB from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.

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