LCNB (NASDAQ:LCNB) Stock Price Passes Below 200 Day Moving Average of $14.98

Shares of LCNB Corp. (NASDAQ:LCNB) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $14.98 and traded as low as $14.63. LCNB shares last traded at $15.21, with a volume of 15,138 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of LCNB from a “hold” rating to a “sell” rating in a research report on Friday, October 27th.

LCNB Trading Up 0.1 %

The firm has a market cap of $168.13 million, a P/E ratio of 8.67 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $14.34 and its 200 day simple moving average is $14.99.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). LCNB had a net margin of 21.85% and a return on equity of 9.74%. The business had revenue of $17.15 million during the quarter, compared to the consensus estimate of $17.70 million. As a group, analysts expect that LCNB Corp. will post 1.52 earnings per share for the current year.

LCNB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date was Thursday, August 31st. LCNB’s dividend payout ratio (DPR) is presently 48.55%.

Hedge Funds Weigh In On LCNB

A number of hedge funds and other institutional investors have recently bought and sold shares of LCNB. Acadian Asset Management LLC increased its position in shares of LCNB by 19.9% in the first quarter. Acadian Asset Management LLC now owns 42,087 shares of the bank’s stock valued at $687,000 after acquiring an additional 6,986 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of LCNB by 924.1% during the second quarter. JPMorgan Chase & Co. now owns 9,033 shares of the bank’s stock valued at $133,000 after purchasing an additional 8,151 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of LCNB by 48.3% during the first quarter. Bank of America Corp DE now owns 7,704 shares of the bank’s stock valued at $126,000 after purchasing an additional 2,510 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of LCNB during the second quarter valued at approximately $85,000. Finally, California State Teachers Retirement System purchased a new position in shares of LCNB during the second quarter valued at approximately $52,000. Hedge funds and other institutional investors own 38.14% of the company’s stock.

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.