LCNB Corp. (NASDAQ:LCNB) Sees Significant Decrease in Short Interest

LCNB Corp. (NASDAQ:LCNB) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totalling 106,800 shares, a drop of 22.7% from the November 30th total of 138,100 shares. Based on an average daily trading volume, of 19,900 shares, the short-interest ratio is currently 5.4 days.

LCNB Price Performance

Shares of LCNB stock traded down $0.42 during mid-day trading on Friday, reaching $14.94. 25,260 shares of the stock traded hands, compared to its average volume of 24,616. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $16.42 and a 200 day moving average of $15.23. The stock has a market capitalization of $210.80 million, a PE ratio of 29.29 and a beta of 0.77. LCNB has a fifty-two week low of $12.42 and a fifty-two week high of $17.92.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. The firm had revenue of $32.81 million during the quarter, compared to the consensus estimate of $21.30 million. LCNB had a return on equity of 6.39% and a net margin of 5.88%. On average, analysts predict that LCNB will post 1.09 EPS for the current year.

LCNB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.22 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 5.89%. LCNB’s payout ratio is presently 172.55%.

Institutional Trading of LCNB

Several large investors have recently bought and sold shares of LCNB. JPMorgan Chase & Co. lifted its stake in LCNB by 268.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,446 shares of the bank’s stock worth $308,000 after purchasing an additional 14,904 shares in the last quarter. Barclays PLC increased its holdings in shares of LCNB by 79.3% in the third quarter. Barclays PLC now owns 27,855 shares of the bank’s stock valued at $419,000 after purchasing an additional 12,322 shares during the last quarter. Geode Capital Management LLC lifted its position in LCNB by 7.0% during the third quarter. Geode Capital Management LLC now owns 299,492 shares of the bank’s stock worth $4,514,000 after buying an additional 19,687 shares in the last quarter. State Street Corp boosted its stake in LCNB by 1.3% during the third quarter. State Street Corp now owns 153,579 shares of the bank’s stock worth $2,314,000 after buying an additional 2,025 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in LCNB by 117.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,413 shares of the bank’s stock valued at $383,000 after buying an additional 13,716 shares in the last quarter. Hedge funds and other institutional investors own 34.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Hovde Group assumed coverage on shares of LCNB in a report on Friday, December 20th. They issued a “market perform” rating and a $16.25 price target for the company. StockNews.com raised shares of LCNB from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th.

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.