LCNB (LCNB) Downgraded by Zacks Investment Research to Hold

LCNB (NASDAQ:LCNB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.

According to Zacks, “LCNB Corp. is a financial holding company. The Company, through its subsidiaries, LCNB National Bank and Dakin Insurance Agency, Inc., is engaged in the commercial banking and insurance agency businesses. Headquartered in Lebanon, Ohio, the Bank is a full service community bank offering a range of commercial and personal banking services. In addition, the company provides safe deposit boxes, night depositories, U.S. savings bonds, travelers’ checks, money orders, cashier’s checks, bank-by-mail, automated teller machines (ATMs), cash and transaction services, debit cards, wire transfers, electronic funds transfer, utility bill collections, notary public services, personal computer based cash management services, telephone banking, and Internet banking services for individuals and businesses. Further, LCNB, through its subsidiary, Dakin Insurance Agency, Inc., engages in insurance agency businesses. It involves in the sale and servicing of personal and commercial insurance products, and annuity products. “

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Separately, ValuEngine upgraded LCNB from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th.

LCNB stock opened at $19.25 on Friday. LCNB has a 52 week low of $18.05 and a 52 week high of $24.10. The company has a market capitalization of $200.52, a price-to-earnings ratio of 14.92 and a beta of 0.33.

LCNB (NASDAQ:LCNB) last released its quarterly earnings results on Monday, January 29th. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. LCNB had a return on equity of 8.60% and a net margin of 23.62%. The company had revenue of $13.24 million for the quarter, compared to analysts’ expectations of $13.07 million. research analysts forecast that LCNB will post 1.58 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in LCNB. Vanguard Group Inc. raised its stake in shares of LCNB by 23.6% in the second quarter. Vanguard Group Inc. now owns 341,794 shares of the bank’s stock valued at $6,836,000 after acquiring an additional 65,300 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of LCNB by 66.8% in the third quarter. Dimensional Fund Advisors LP now owns 64,700 shares of the bank’s stock valued at $1,355,000 after acquiring an additional 25,921 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of LCNB by 36.4% in the fourth quarter. Bank of New York Mellon Corp now owns 53,967 shares of the bank’s stock valued at $1,104,000 after acquiring an additional 14,391 shares in the last quarter. State Street Corp raised its stake in shares of LCNB by 9.8% in the second quarter. State Street Corp now owns 159,567 shares of the bank’s stock valued at $3,194,000 after acquiring an additional 14,183 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of LCNB by 60.8% in the fourth quarter. Deutsche Bank AG now owns 37,431 shares of the bank’s stock valued at $764,000 after acquiring an additional 14,152 shares in the last quarter. Institutional investors and hedge funds own 37.05% of the company’s stock.

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LCNB Company Profile

LCNB Corp., a financial holding company, provides commercial and personal banking services in Ohio. Its deposit products include checking, NOW, savings, Christmas and vacation club, money market deposit, lifetime checking, and individual retirement accounts, as well as certificates of deposit. The company's loan portfolio comprises commercial and industrial, commercial and residential real estate, agricultural, construction, small business administration, and residential mortgage loans.

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