Panagora Asset Management Inc. lifted its stake in shares of LCNB Corp. (NASDAQ:LCNB) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,358 shares of the bank’s stock after buying an additional 1,051 shares during the quarter. Panagora Asset Management Inc. owned about 0.54% of LCNB worth $1,375,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Castine Capital Management LLC raised its stake in LCNB by 1.7% during the 1st quarter. Castine Capital Management LLC now owns 382,687 shares of the bank’s stock worth $6,563,000 after acquiring an additional 6,474 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of LCNB by 492.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,936 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,609 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of LCNB by 3.8% in the 2nd quarter. Bessemer Group Inc. now owns 24,700 shares of the bank’s stock valued at $469,000 after purchasing an additional 900 shares during the period. Pacific Ridge Capital Partners LLC boosted its position in shares of LCNB by 49.9% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 210,800 shares of the bank’s stock valued at $3,615,000 after purchasing an additional 70,181 shares during the period. Finally, Cutter & CO Brokerage Inc. purchased a new stake in LCNB in the second quarter valued at approximately $394,000. Institutional investors and hedge funds own 33.78% of the company’s stock.
NASDAQ LCNB traded down $0.02 during trading hours on Wednesday, hitting $17.44. 248 shares of the stock were exchanged, compared to its average volume of 18,789. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market cap of $223.98 million, a price-to-earnings ratio of 12.59 and a beta of 0.55. LCNB Corp. has a 12-month low of $14.56 and a 12-month high of $19.94. The stock has a 50-day moving average of $17.20 and a 200 day moving average of $17.23.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a $0.17 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.90%. LCNB’s dividend payout ratio (DPR) is presently 48.92%.
In other LCNB news, Director William G. Huddle sold 6,546 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $18.25, for a total value of $119,464.50. Following the completion of the transaction, the director now owns 147,400 shares in the company, valued at $2,690,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William G. Huddle sold 2,500 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $18.25, for a total value of $45,625.00. Following the completion of the sale, the director now directly owns 147,400 shares of the company’s stock, valued at approximately $2,690,050. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 1,931 shares of company stock worth $32,136 and sold 12,517 shares worth $228,261. 6.45% of the stock is owned by insiders.
A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered LCNB from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. ValuEngine cut shares of LCNB from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.
LCNB Corp. operates as the financial holding company for LCNB National Bank that provides commercial and personal banking services in Ohio. The company's 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.
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