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 stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average cost of $14.70 per share, with a total value of $14,700.00. Following the acquisition, the director now owns 45,049 shares of the company’s stock, valued at $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 SEC, which is available at the SEC website.

LCNB Price Performance

LCNB stock traded down $0.05 during midday trading on Thursday, reaching $14.92. The company had a trading volume of 5,488 shares, compared to its average volume of 19,708. The stock has a 50 day moving average price of $15.14 and a 200-day moving average price of $15.55. The company has a market capitalization of $210.45 million, a price-to-earnings ratio of 15.38 and a beta of 0.78. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.91. LCNB Corp. has a 1-year low of $12.42 and a 1-year high of $17.92.

LCNB (NASDAQ:LCNB) last released its quarterly earnings data 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 return on equity of 7.12% and a net margin of 10.76%. Equities research analysts expect that LCNB Corp. will post 1.65 earnings per share for the current year.

LCNB Dividend Announcement

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 issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date of this dividend is Monday, March 3rd. LCNB’s dividend payout ratio is currently 90.72%.

Institutional Trading of LCNB

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in LCNB by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 423,891 shares of the bank’s stock valued at $6,413,000 after acquiring an additional 22,315 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of LCNB by 7.0% in 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 during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in shares of LCNB by 15.2% in the fourth quarter. Johnson Investment Counsel Inc. now owns 157,783 shares of the bank’s stock valued at $2,387,000 after purchasing an additional 20,812 shares in the last quarter. State Street Corp boosted its position in shares of LCNB by 1.3% during the third quarter. State Street Corp now owns 153,579 shares of the bank’s stock valued at $2,314,000 after buying an additional 2,025 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in LCNB by 6.5% in the 4th quarter. Renaissance Technologies LLC now owns 122,716 shares of the bank’s stock valued at $1,857,000 after buying an additional 7,500 shares during the last quarter. Institutional investors own 34.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LCNB. Hovde Group initiated coverage on shares of LCNB in a research report on Friday, December 20th. They set a “market perform” rating and a $16.25 price target on the stock. StockNews.com raised LCNB from a “hold” rating to a “buy” rating in a report on Monday, February 3rd.

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.