Wall Street Zen Upgrades LCNB (NASDAQ:LCNB) to Buy

Wall Street Zen upgraded shares of LCNB (NASDAQ:LCNB - Free Report) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

LCNB Price Performance

LCNB stock traded up $0.30 on Tuesday, hitting $15.33. 23,980 shares of the company's stock traded hands, compared to its average volume of 20,922. LCNB has a 1-year low of $13.24 and a 1-year high of $17.92. The stock has a market cap of $217.23 million, a price-to-earnings ratio of 13.33 and a beta of 0.60. The stock has a fifty day moving average of $14.75 and a 200-day moving average of $14.80. 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 (NASDAQ:LCNB - Get Free Report) last released its earnings results on Tuesday, April 22nd. The bank reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). The firm had revenue of $21.52 million during the quarter, compared to analysts' expectations of $15.80 million. LCNB had a return on equity of 7.68% and a net margin of 12.72%. On average, analysts forecast that LCNB will post 1.65 EPS for the current fiscal year.

LCNB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 5.74%. The ex-dividend date was Monday, June 2nd. LCNB's dividend payout ratio is currently 76.52%.

Institutional Trading of LCNB

Several institutional investors have recently made changes to their positions in LCNB. Citadel Advisors LLC grew its position in LCNB by 11.3% in the fourth quarter. Citadel Advisors LLC now owns 40,722 shares of the bank's stock worth $616,000 after acquiring an additional 4,122 shares in the last quarter. Bank of America Corp DE grew its position in LCNB by 29.0% in the fourth quarter. Bank of America Corp DE now owns 19,131 shares of the bank's stock worth $289,000 after acquiring an additional 4,306 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in LCNB in the fourth quarter worth approximately $484,000. Raymond James Financial Inc. bought a new stake in LCNB in the fourth quarter worth approximately $330,000. Finally, Deutsche Bank AG grew its position in LCNB by 51.4% in the fourth quarter. Deutsche Bank AG now owns 16,396 shares of the bank's stock worth $248,000 after acquiring an additional 5,565 shares in the last quarter. 34.73% of the stock is currently owned by institutional investors and hedge funds.

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.