Kestra Advisory Services LLC acquired a new stake in LCNB Corporation (NASDAQ:LCNB – Free Report) in the first quarter, Holdings Channel reports. The fund acquired 29,154 shares of the bank’s stock, valued at approximately $455,000.
A number of other hedge funds have also recently added to or reduced their stakes in LCNB. NewEdge Advisors LLC acquired a new position in shares of LCNB during the first quarter worth approximately $206,000. Goldman Sachs Group Inc. grew its position in LCNB by 5.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 38,804 shares of the bank’s stock valued at $574,000 after purchasing an additional 1,851 shares during the period. Empowered Funds LLC increased its stake in LCNB by 7.0% during the 1st quarter. Empowered Funds LLC now owns 52,377 shares of the bank’s stock valued at $775,000 after purchasing an additional 3,421 shares in the last quarter. Geode Capital Management LLC increased its stake in LCNB by 5.4% during the 2nd quarter. Geode Capital Management LLC now owns 326,509 shares of the bank’s stock valued at $4,746,000 after purchasing an additional 16,739 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in LCNB by 39.3% during the second quarter. Rhumbline Advisers now owns 16,605 shares of the bank’s stock worth $241,000 after buying an additional 4,685 shares during the last quarter. Institutional investors and hedge funds own 34.73% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on LCNB. Zacks Research upgraded shares of LCNB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of LCNB from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, LCNB presently has an average rating of “Strong Buy”.
LCNB Stock Performance
NASDAQ LCNB opened at $20.36 on Tuesday. The company has a fifty day moving average price of $17.58 and a 200-day moving average price of $16.97. The firm has a market cap of $290.13 million, a price-to-earnings ratio of 11.77 and a beta of 0.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93. LCNB Corporation has a 1 year low of $14.11 and a 1 year high of $20.62.
LCNB (NASDAQ:LCNB – Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The bank reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. LCNB had a net margin of 19.69% and a return on equity of 8.98%. The company had revenue of $25.14 million for the quarter, compared to analyst estimates of $24.00 million. As a group, equities research analysts predict that LCNB Corporation will post 1.73 EPS for the current fiscal year.
LCNB Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.22 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.88 annualized dividend and a yield of 4.3%. LCNB’s dividend payout ratio (DPR) is 50.87%.
LCNB Company Profile
LCNB Financial Corp (NASDAQ: LCNB) is the bank holding company for LCNB National Bank, a community-focused regional bank headquartered in Cincinnati, Ohio. Through its banking subsidiary, LCNB provides a full suite of deposit and lending solutions designed to meet the needs of individual consumers, small businesses, and middle-market commercial clients. The company emphasizes personalized service, offering checking, savings, money market, and certificate of deposit accounts alongside digital and mobile banking platforms.
On the lending side, LCNB National Bank extends a range of credit products, including commercial and industrial loans, real estate and construction financing, agricultural loans, residential mortgages, and consumer lending.
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