Cutter & CO Brokerage Inc. Sells 3,697 Shares of LCNB Corp. (NASDAQ:LCNB)

Cutter & CO Brokerage Inc. decreased its holdings in LCNB Corp. (NASDAQ:LCNB) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,043 shares of the bank’s stock after selling 3,697 shares during the period. Cutter & CO Brokerage Inc.’s holdings in LCNB were worth $269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LCNB. AlphaMark Advisors LLC bought a new position in LCNB during the 4th quarter valued at about $26,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of LCNB in the third quarter worth approximately $36,000. New York State Common Retirement Fund lifted its stake in shares of LCNB by 427.8% during the 4th quarter. New York State Common Retirement Fund now owns 4,697 shares of the bank’s stock worth $74,000 after acquiring an additional 3,807 shares during the last quarter. Finally, Hengehold Capital Management LLC purchased a new stake in shares of LCNB in the fourth quarter valued at approximately $279,000. Hedge funds and other institutional investors own 34.73% of the company’s stock.

Insider Activity at LCNB

In related news, EVP Lawrence P. Jr. Mulligan acquired 4,000 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the executive vice president now directly owns 16,439 shares in the company, valued at approximately $229,324.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other LCNB news, EVP Lawrence P. Jr. Mulligan bought 2,500 shares of LCNB stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $14.30 per share, for a total transaction of $35,750.00. Following the acquisition, the executive vice president now directly owns 18,939 shares in the company, valued at $270,827.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lawrence P. Jr. Mulligan purchased 4,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $13.95 per share, with a total value of $55,800.00. Following the purchase, the executive vice president now owns 16,439 shares of the company’s stock, valued at $229,324.05. The disclosure for this purchase can be found here. Insiders acquired a total of 9,476 shares of company stock worth $133,651 in the last 90 days. Corporate insiders own 5.79% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of LCNB from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th.

LCNB Stock Performance

NASDAQ LCNB traded up $0.10 on Wednesday, reaching $15.33. 3,609 shares of the company’s stock traded hands, compared to its average volume of 27,188. The stock has a 50 day moving average price of $14.70 and a 200-day moving average price of $14.82. The firm has a market cap of $202.66 million, a price-to-earnings ratio of 13.36 and a beta of 0.74. LCNB Corp. has a fifty-two week low of $12.78 and a fifty-two week high of $17.72. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91.

LCNB (NASDAQ:LCNB) last announced its quarterly earnings results on Wednesday, January 31st. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). LCNB had a net margin of 13.29% and a return on equity of 8.31%. The company had revenue of $19.27 million during the quarter, compared to analyst estimates of $18.30 million. Equities research analysts predict that LCNB Corp. will post 1.44 EPS for the current fiscal year.

LCNB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date was Thursday, February 29th. LCNB’s dividend payout ratio (DPR) is presently 77.19%.

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.