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

LCNB Corp. (NASDAQ:LCNB) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 107,800 shares, a decrease of 17.7% from the October 31st total of 131,000 shares. Based on an average daily trading volume, of 20,500 shares, the days-to-cover ratio is currently 5.3 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of LCNB from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th.

LCNB Trading Up 0.9 %

LCNB stock opened at $17.54 on Monday. LCNB has a 52-week low of $12.42 and a 52-week high of $17.92. 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 firm has a market capitalization of $247.49 million, a price-to-earnings ratio of 34.39 and a beta of 0.75. The firm has a 50-day moving average price of $15.82 and a two-hundred day moving average price of $14.92.

LCNB (NASDAQ:LCNB) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.04. LCNB had a return on equity of 6.39% and a net margin of 5.88%. The business had revenue of $32.81 million during the quarter, compared to the consensus estimate of $21.30 million. Sell-side analysts expect that LCNB will post 1.09 earnings per share for the current year.

LCNB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 5.02%. LCNB’s dividend payout ratio is presently 172.55%.

Hedge Funds Weigh In On LCNB

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of LCNB by 43.2% in the 1st quarter. Vanguard Group Inc. now owns 766,198 shares of the bank’s stock worth $12,213,000 after acquiring an additional 231,035 shares during the period. Geode Capital Management LLC raised its holdings 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 purchasing an additional 19,687 shares in the last quarter. Souders Financial Advisors acquired a new stake in LCNB in the second quarter worth approximately $231,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in LCNB by 117.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,413 shares of the bank’s stock valued at $383,000 after purchasing an additional 13,716 shares in the last quarter. Finally, Financial Counselors Inc. acquired a new position in shares of LCNB during the 2nd quarter valued at $172,000. Institutional investors and hedge funds own 34.73% of the company’s 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.