LCNB (LCNB) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of LCNB (NASDAQ:LCNB) from a hold rating to a sell rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “LCNB Corp. is a financial holding company. The Company, through its subsidiaries, LCNB National Bank and Dakin Insurance Agency, Inc., is engaged in the commercial banking and insurance agency businesses. Headquartered in Lebanon, Ohio, the Bank is a full service community bank offering a range of commercial and personal banking services. In addition, the company provides safe deposit boxes, night depositories, U.S. savings bonds, travelers’ checks, money orders, cashier’s checks, bank-by-mail, automated teller machines (ATMs), cash and transaction services, debit cards, wire transfers, electronic funds transfer, utility bill collections, notary public services, personal computer based cash management services, telephone banking, and Internet banking services for individuals and businesses. Further, LCNB, through its subsidiary, Dakin Insurance Agency, Inc., engages in insurance agency businesses. It involves in the sale and servicing of personal and commercial insurance products, and annuity products. “

Separately, Boenning Scattergood restated a hold rating on shares of LCNB in a research report on Thursday, February 7th.

LCNB stock traded down $0.02 during trading on Thursday, hitting $17.14. 4,490 shares of the company traded hands, compared to its average volume of 16,956. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. The stock has a market cap of $228.64 million, a P/E ratio of 12.33 and a beta of 0.52. LCNB has a 1 year low of $14.56 and a 1 year high of $20.65.

LCNB (NASDAQ:LCNB) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $16.16 million during the quarter, compared to analysts’ expectations of $16.19 million. LCNB had a return on equity of 8.26% and a net margin of 22.58%. On average, research analysts predict that LCNB will post 1.56 earnings per share for the current fiscal year.

In other news, insider John F. Smiley sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $17.00, for a total value of $170,000.00. Following the completion of the sale, the insider now directly owns 128,212 shares in the company, valued at $2,179,604. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Smiley sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $17.12, for a total value of $85,600.00. Following the completion of the sale, the insider now owns 116,435 shares of the company’s stock, valued at $1,993,367.20. The disclosure for this sale can be found here. Insiders sold 37,653 shares of company stock valued at $642,313 over the last 90 days. Company insiders own 6.45% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Rhumbline Advisers purchased a new stake in shares of LCNB during the fourth quarter worth approximately $193,000. Vanguard Group Inc increased its position in shares of LCNB by 5.1% during the third quarter. Vanguard Group Inc now owns 385,996 shares of the bank’s stock worth $7,199,000 after purchasing an additional 18,704 shares in the last quarter. Martingale Asset Management L P increased its position in shares of LCNB by 22.6% during the fourth quarter. Martingale Asset Management L P now owns 43,414 shares of the bank’s stock worth $658,000 after purchasing an additional 8,004 shares in the last quarter. BlackRock Inc. increased its position in shares of LCNB by 2.1% during the third quarter. BlackRock Inc. now owns 482,399 shares of the bank’s stock worth $8,997,000 after purchasing an additional 10,086 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of LCNB by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 59,696 shares of the bank’s stock worth $1,113,000 after purchasing an additional 5,720 shares in the last quarter. Institutional investors and hedge funds own 31.61% of the company’s stock.

LCNB Company Profile

LCNB Corp. operates as the financial holding company for LCNB National Bank that provides commercial and personal banking services in Ohio. The company's deposit products include checking, NOW, savings, Christmas and vacation club, money market deposit, lifetime checking, and individual retirement accounts, as well as certificates of deposit.

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