Insider Buying: LCNB Corp. (NASDAQ:LCNB) Director Purchases 1,000 Shares of Stock

LCNB Corp. (NASDAQ:LCNB) Director Steve P. Foster purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $14.70 per share, with a total value of $14,700.00. Following the completion of the purchase, the director now directly owns 45,049 shares in the company, valued at approximately $662,220.30. This represents a 2.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

LCNB Price Performance

NASDAQ:LCNB opened at $15.49 on Friday. LCNB Corp. has a 1-year low of $12.42 and a 1-year high of $17.92. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $15.13 and a 200 day simple moving average of $15.56. The stock has a market capitalization of $218.56 million, a PE ratio of 15.97 and a beta of 0.78.

LCNB (NASDAQ:LCNB) last released its earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.14. LCNB had a net margin of 10.76% and a return on equity of 7.12%. On average, research analysts expect that LCNB Corp. will post 1.65 EPS for the current fiscal year.

LCNB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.22 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.88 annualized dividend and a dividend yield of 5.68%. LCNB’s dividend payout ratio is presently 90.72%.

Institutional Investors Weigh In On LCNB

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its holdings in LCNB by 240.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,123 shares of the bank’s stock valued at $47,000 after purchasing an additional 2,205 shares during the last quarter. Allworth Financial LP acquired a new stake in LCNB during the 3rd quarter valued at $50,000. Deutsche Bank AG lifted its holdings in LCNB by 51.4% during the 4th quarter. Deutsche Bank AG now owns 16,396 shares of the bank’s stock valued at $248,000 after purchasing an additional 5,565 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in LCNB by 53.0% during the 4th quarter. Squarepoint Ops LLC now owns 16,842 shares of the bank’s stock valued at $255,000 after purchasing an additional 5,834 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in LCNB by 29.0% during the 4th quarter. Bank of America Corp DE now owns 19,131 shares of the bank’s stock valued at $289,000 after purchasing an additional 4,306 shares during the last quarter. Institutional investors and hedge funds own 34.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LCNB shares. Hovde Group started coverage on shares of LCNB in a research note on Friday, December 20th. They set a “market perform” rating and a $16.25 price target for the company. StockNews.com raised shares of LCNB from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd.

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.