LCNB Corp. (NASDAQ:LCNB) Sees Significant Increase in Short Interest

LCNB Corp. (NASDAQ:LCNB - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 232,000 shares, a growth of 47.2% from the March 15th total of 157,600 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily volume of 28,200 shares, the days-to-cover ratio is currently 8.2 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut LCNB from a "hold" rating to a "sell" rating in a report on Tuesday, February 13th.

LCNB Price Performance

LCNB stock traded down $0.40 during midday trading on Friday, reaching $14.04. 17,285 shares of the stock were exchanged, compared to its average volume of 40,505. The stock has a market capitalization of $185.61 million, a PE ratio of 12.32 and a beta of 0.74. LCNB has a 52 week low of $12.78 and a 52 week high of $17.72. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.91. The company has a fifty day moving average price of $14.59 and a 200 day moving average price of $14.78.

LCNB (NASDAQ:LCNB - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The bank reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The firm had revenue of $19.27 million for the quarter, compared to the consensus estimate of $18.30 million. LCNB had a return on equity of 8.31% and a net margin of 13.29%. As a group, analysts expect that LCNB will post 1.44 EPS for the current fiscal year.

LCNB Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.88 dividend on an annualized basis and a yield of 6.27%. LCNB's dividend payout ratio is currently 77.19%.

Insider Activity at LCNB

In related news, EVP Lawrence P. Jr. Mulligan acquired 2,500 shares of the company's stock in a transaction on Thursday, February 8th. The stock was purchased at an average cost of $14.30 per share, with a total value of $35,750.00. Following the acquisition, the executive vice president now directly owns 18,939 shares of the company's stock, valued at $270,827.70. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other LCNB news, EVP Lawrence P. Jr. Mulligan purchased 2,500 shares of the stock in a transaction dated Thursday, February 8th. The stock was bought at an average price of $14.30 per share, with a total value of $35,750.00. Following the acquisition, the executive vice president now owns 18,939 shares of the company's stock, valued at $270,827.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lawrence P. Jr. Mulligan purchased 4,000 shares of the stock in a transaction dated Tuesday, February 6th. The shares were acquired at an average cost of $13.95 per share, with a total value of $55,800.00. Following the acquisition, the executive vice president now directly owns 16,439 shares in the company, valued at approximately $229,324.05. The disclosure for this purchase can be found here. Insiders bought 9,476 shares of company stock worth $133,651 in the last ninety days. 5.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On LCNB

Institutional investors have recently made changes to their positions in the stock. AlphaMark Advisors LLC bought a new stake in shares of LCNB in the 4th quarter valued at about $26,000. Allspring Global Investments Holdings LLC bought a new stake in shares of LCNB in the 3rd quarter valued at about $36,000. BNP Paribas Arbitrage SNC bought a new stake in shares of LCNB during the 2nd quarter valued at about $40,000. Tower Research Capital LLC TRC boosted its position in shares of LCNB by 898.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,427 shares of the bank's stock valued at $40,000 after purchasing an additional 2,184 shares in the last quarter. Finally, California State Teachers Retirement System bought a new stake in shares of LCNB during the 2nd quarter valued at about $52,000. Institutional investors 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.

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