LCNB Corp. (NASDAQ:LCNB) Short Interest Down 10.9% in December

LCNB Corp. (NASDAQ:LCNB) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 95,200 shares, a decline of 10.9% from the December 15th total of 106,800 shares. Based on an average daily trading volume, of 21,300 shares, the days-to-cover ratio is currently 4.5 days.

LCNB Price Performance

Shares of LCNB stock remained flat at $15.07 during midday trading on Friday. The company’s stock had a trading volume of 17,879 shares, compared to its average volume of 18,052. The firm has a market capitalization of $212.64 million, a PE ratio of 29.55 and a beta of 0.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a 50-day simple moving average of $16.15 and a 200 day simple moving average of $15.37. LCNB has a one year low of $12.42 and a one year high of $17.92.

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

LCNB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.22 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.88 annualized dividend and a yield of 5.84%. LCNB’s dividend payout ratio is currently 172.55%.

Institutional Investors Weigh In On LCNB

A number of hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in shares of LCNB by 10.4% during the 2nd quarter. Rhumbline Advisers now owns 12,841 shares of the bank’s stock worth $179,000 after buying an additional 1,207 shares in the last quarter. State Street Corp raised its position in LCNB by 1.3% in the third quarter. State Street Corp now owns 153,579 shares of the bank’s stock worth $2,314,000 after acquiring an additional 2,025 shares in the last quarter. Empowered Funds LLC lifted its holdings in LCNB by 5.3% in the third quarter. Empowered Funds LLC now owns 55,826 shares of the bank’s stock valued at $841,000 after acquiring an additional 2,814 shares during the period. Allworth Financial LP purchased a new stake in shares of LCNB during the 3rd quarter worth $50,000. Finally, Baker Ellis Asset Management LLC grew its stake in shares of LCNB by 23.6% during the 4th quarter. Baker Ellis Asset Management LLC now owns 26,200 shares of the bank’s stock worth $396,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 34.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group initiated coverage on shares of LCNB in a research note on Friday, December 20th. They issued a “market perform” rating and a $16.25 price objective on the 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.