LCNB (NASDAQ:LCNB) Stock Price Passes Below 200 Day Moving Average - Here's What Happened

Key Points

• LCNB Corporation share price has fallen below its 200-day moving average of $14.81, raising concerns among investors.
• Despite the recent dip in stock performance, the company announced a quarterly earnings beat with an EPS of $0.41, exceeding estimates of $0.37.
• Wall Street analysts have downgraded LCNB from a "buy" to a "hold" rating, indicating a shift in market sentiment.

LCNB Corporation (NASDAQ:LCNB - Get Free Report) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.81 and traded as low as $14.53. LCNB shares last traded at $15.37, with a volume of 31,332 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded LCNB from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th.

LCNB Stock Performance

The company's fifty day simple moving average is $14.91 and its two-hundred day simple moving average is $14.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $213.41 million, a P/E ratio of 10.10 and a beta of 0.68.

LCNB (NASDAQ:LCNB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. LCNB had a return on equity of 8.26% and a net margin of 16.62%. The firm had revenue of $22.79 million for the quarter, compared to analyst estimates of $16.80 million. As a group, equities analysts forecast that LCNB Corporation will post 1.65 EPS for the current year.

LCNB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Monday, June 2nd. LCNB's dividend payout ratio (DPR) is currently 59.06%.

Hedge Funds Weigh In On LCNB

A number of institutional investors have recently modified their holdings of LCNB. Lido Advisors LLC bought a new stake in LCNB during the 4th quarter worth $469,000. JPMorgan Chase & Co. grew its holdings in LCNB by 122.4% during the 4th quarter. JPMorgan Chase & Co. now owns 45,477 shares of the bank's stock worth $688,000 after acquiring an additional 25,031 shares during the last quarter. Dimensional Fund Advisors LP increased its position in LCNB by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 423,891 shares of the bank's stock valued at $6,413,000 after acquiring an additional 22,315 shares during the period. Raymond James Financial Inc. bought a new stake in shares of LCNB in the fourth quarter worth $330,000. Finally, Geode Capital Management LLC increased its holdings in LCNB by 5.4% in the second quarter. Geode Capital Management LLC now owns 326,509 shares of the bank's stock valued at $4,746,000 after purchasing an additional 16,739 shares during the period. Institutional investors and hedge funds 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.