Short Interest in LCNB Corp. (NASDAQ:LCNB) Rises By 7.9%

LCNB Corp. (NASDAQ:LCNB) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 443,400 shares, an increase of 7.9% from the October 15th total of 411,000 shares. Currently, 4.3% of the company’s shares are sold short. Based on an average daily trading volume, of 21,900 shares, the days-to-cover ratio is currently 20.2 days.

Analysts Set New Price Targets

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

LCNB Trading Down 0.2 %

Shares of LCNB stock traded down $0.03 during mid-day trading on Friday, hitting $15.08. The stock had a trading volume of 22,545 shares, compared to its average volume of 26,597. The firm has a 50-day moving average of $14.34 and a two-hundred day moving average of $14.99. The firm has a market cap of $167.69 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. LCNB has a 12-month low of $12.78 and a 12-month high of $19.10.

LCNB (NASDAQ:LCNB) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). LCNB had a return on equity of 9.74% and a net margin of 21.85%. The business had revenue of $17.15 million during the quarter, compared to analysts’ expectations of $17.70 million. Sell-side analysts forecast that LCNB will post 1.52 earnings per share for the current year.

LCNB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.84 annualized dividend and a yield of 5.57%. LCNB’s dividend payout ratio (DPR) is currently 48.55%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in shares of LCNB by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 67,698 shares of the bank’s stock worth $1,189,000 after acquiring an additional 1,318 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in LCNB by 2.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 32,956 shares of the bank’s stock worth $579,000 after purchasing an additional 816 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of LCNB during the first quarter worth $276,000. Dimensional Fund Advisors LP grew its stake in shares of LCNB by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 402,739 shares of the bank’s stock valued at $7,072,000 after buying an additional 18,243 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of LCNB by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 549,216 shares of the bank’s stock valued at $9,644,000 after buying an additional 10,925 shares during the period. Institutional investors and hedge funds own 38.14% 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.