LCNB (NASDAQ:LCNB) Stock Gets Downgrade from Wall Street Zen

LCNB (NASDAQ:LCNB – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings raised LCNB from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, November 2nd. Piper Sandler began coverage on shares of LCNB in a research note on Thursday, October 8th. They set a “neutral” rating and a $20.00 price objective for the company. Finally, Zacks Research cut shares of LCNB from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 15th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, LCNB currently has a consensus rating of “Hold” and an average target price of $20.00.

Read Our Latest Stock Analysis on LCNB

LCNB Stock Performance

LCNB opened at $19.59 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The firm has a market cap of $279.35 million, a PE ratio of 11.19 and a beta of 0.59. The business has a fifty day simple moving average of $19.14 and a 200-day simple moving average of $17.87. LCNB has a fifty-two week low of $14.83 and a fifty-two week high of $21.32.

LCNB (NASDAQ:LCNB – Get Free Report) last announced its earnings results on Thursday, October 15th. The bank reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. LCNB had a return on equity of 8.95% and a net margin of 20.02%. The company had revenue of $25.02 million for the quarter, compared to analyst estimates of $24.65 million. As a group, equities analysts predict that LCNB will post 1.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael Miller sold 1,817 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $20.02, for a total transaction of $36,376.34. Following the transaction, the executive vice president directly owned 17,957 shares of the company’s stock, valued at approximately $359,499.14. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 1,900 shares of company stock worth $37,401 over the last quarter. 5.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LCNB

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of LCNB during the second quarter worth approximately $16,885,000. Dimensional Fund Advisors LP increased its stake in LCNB by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 523,527 shares of the bank’s stock valued at $8,162,000 after buying an additional 28,883 shares during the period. Renaissance Technologies LLC increased its stake in LCNB by 13.2% in the 1st quarter. Renaissance Technologies LLC now owns 156,283 shares of the bank’s stock valued at $2,436,000 after buying an additional 18,167 shares during the period. Empowered Funds LLC acquired a new position in LCNB in the 2nd quarter valued at approximately $1,431,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in LCNB in the 2nd quarter worth approximately $1,085,000. 34.73% of the stock is currently owned by institutional investors and hedge funds.

About LCNB

(Get Free Report)

LCNB Corporation is a bank holding company headquartered in Lebanon, Ohio. Its principal subsidiary, LCNB National Bank, operates as a community bank serving individuals, families, businesses and nonprofit organizations.

LCNB National Bank provides a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, home equity financing and agricultural lending. The bank also offers digital banking, treasury management and other cash-management services designed to support personal and business customers.

Through its banking operations, LCNB serves communities primarily in southwestern Ohio and nearby areas of northern Kentucky.

Further Reading

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