LCNB (NASDAQ:LCNB) Raised to Buy at StockNews.com

LCNB (NASDAQ:LCNB) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Separately, Hovde Group started coverage on LCNB in a research note on Friday, December 20th. They set a “market perform” rating and a $16.25 price target on the stock.

LCNB Trading Down 0.5 %

NASDAQ LCNB traded down $0.08 on Monday, hitting $15.38. 26,698 shares of the stock were exchanged, compared to its average volume of 19,828. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.91 and a current ratio of 0.93. LCNB has a 52-week low of $12.42 and a 52-week high of $17.92. The firm has a market capitalization of $217.01 million, a P/E ratio of 15.86 and a beta of 0.78. The stock has a fifty day moving average price of $15.78 and a two-hundred day moving average price of $15.47.

LCNB (NASDAQ:LCNB) last released its earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.14. LCNB had a return on equity of 7.12% and a net margin of 10.76%. Research analysts forecast that LCNB will post 1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On LCNB

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP acquired a new position in shares of LCNB during the third quarter valued at about $50,000. Empowered Funds LLC lifted its holdings in LCNB by 5.3% in the third quarter. Empowered Funds LLC now owns 55,826 shares of the bank’s stock valued at $841,000 after acquiring an additional 2,814 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in LCNB by 117.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,413 shares of the bank’s stock worth $383,000 after buying an additional 13,716 shares in the last quarter. State Street Corp lifted its holdings in LCNB by 1.3% during the third quarter. State Street Corp now owns 153,579 shares of the bank’s stock valued at $2,314,000 after purchasing an additional 2,025 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of LCNB by 79.3% during the third quarter. Barclays PLC now owns 27,855 shares of the bank’s stock worth $419,000 after buying an additional 12,322 shares in the last quarter. Hedge funds and other 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.