LCNB (NASDAQ:LCNB) Stock Rating Upgraded by Wall Street Zen

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

LCNB Price Performance

Shares of NASDAQ:LCNB traded up $0.14 on Thursday, hitting $14.60. The company's stock had a trading volume of 7,895 shares, compared to its average volume of 22,844. The company has a 50-day simple moving average of $14.60 and a 200 day simple moving average of $15.29. LCNB has a 1 year low of $12.42 and a 1 year high of $17.92. The company has a market capitalization of $206.84 million, a PE ratio of 15.05 and a beta of 0.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.91.

LCNB (NASDAQ:LCNB - Get Free Report) last released its quarterly 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). LCNB had a net margin of 10.76% and a return on equity of 7.12%. The business had revenue of $21.52 million during the quarter, compared to analysts' expectations of $15.80 million. Sell-side analysts forecast that LCNB will post 1.65 EPS for the current fiscal year.

LCNB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.03%. LCNB's dividend payout ratio is 76.52%.

Hedge Funds Weigh In On LCNB

A number of large investors have recently modified their holdings of LCNB. MAI Capital Management purchased a new position in shares of LCNB during the 1st quarter valued at about $32,000. Tower Research Capital LLC TRC raised its holdings 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 buying an additional 2,205 shares in the last quarter. Allworth Financial LP raised its holdings in shares of LCNB by 100.0% during the 1st quarter. Allworth Financial LP now owns 6,570 shares of the bank's stock valued at $95,000 after buying an additional 3,285 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of LCNB during the 1st quarter valued at about $206,000. Finally, Nuveen LLC purchased a new position in shares of LCNB during the 1st quarter valued at about $228,000. 34.73% of the stock is owned by hedge funds and other institutional investors.

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.