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

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

Institutional Trading of LCNB

Several hedge funds have recently added to or reduced their stakes in LCNB. Vanguard Group Inc. grew its stake in LCNB by 43.2% in the first quarter. Vanguard Group Inc. now owns 766,198 shares of the bank’s stock valued at $12,213,000 after acquiring an additional 231,035 shares during the period. Geode Capital Management LLC grew its position in shares of LCNB by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 299,492 shares of the bank’s stock valued at $4,514,000 after purchasing an additional 19,687 shares during the period. State Street Corp increased its stake in LCNB by 1.3% during the 3rd quarter. State Street Corp now owns 153,579 shares of the bank’s stock worth $2,314,000 after purchasing an additional 2,025 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in LCNB by 10.2% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 125,513 shares of the bank’s stock worth $1,746,000 after buying an additional 11,649 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in LCNB by 5.2% in the second quarter. Renaissance Technologies LLC now owns 114,916 shares of the bank’s stock valued at $1,598,000 after buying an additional 5,700 shares in the last quarter. Institutional investors and hedge funds own 34.73% of the company’s stock.

Wall Street Analyst Weigh In

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

LCNB Price Performance

Shares of LCNB opened at $17.54 on Friday. The stock has a market cap of $247.49 million, a P/E ratio of 34.39 and a beta of 0.75. LCNB has a 1 year low of $12.42 and a 1 year high of $17.92. The stock’s 50-day moving average price is $15.82 and its two-hundred day moving average price is $14.92. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61.

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

LCNB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Monday, December 2nd. LCNB’s dividend payout ratio (DPR) is 172.55%.

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.