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

LCNB Corp. (NASDAQ:LCNB - Get Free Report) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 106,800 shares, a decrease of 22.7% from the November 30th total of 138,100 shares. Based on an average daily trading volume, of 19,900 shares, the days-to-cover ratio is presently 5.4 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LCNB shares. Hovde Group initiated coverage on LCNB in a report on Friday, December 20th. They issued a "market perform" rating and a $16.25 price target for the company. StockNews.com upgraded shares of LCNB from a "sell" rating to a "hold" rating in a research report on Wednesday, September 18th.

Hedge Funds Weigh In On LCNB

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kimelman & Baird LLC bought a new stake in shares of LCNB during the second quarter valued at about $160,000. Cutter & CO Brokerage Inc. raised its position in shares of LCNB by 12.6% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 15,815 shares of the bank's stock worth $220,000 after buying an additional 1,772 shares in the last quarter. Souders Financial Advisors acquired a new stake in shares of LCNB in the 2nd quarter worth approximately $231,000. Rhumbline Advisers boosted its holdings in shares of LCNB by 10.4% in the second quarter. Rhumbline Advisers now owns 12,841 shares of the bank's stock valued at $179,000 after acquiring an additional 1,207 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of LCNB by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 58,326 shares of the bank's stock valued at $811,000 after acquiring an additional 5,237 shares during the period. 34.73% of the stock is currently owned by institutional investors and hedge funds.

LCNB Stock Performance

NASDAQ:LCNB traded down $0.42 during midday trading on Friday, reaching $14.94. 25,260 shares of the company traded hands, compared to its average volume of 24,616. The firm has a market capitalization of $210.80 million, a price-to-earnings ratio of 29.29 and a beta of 0.77. The company has a fifty day moving average price of $16.42 and a 200 day moving average price of $15.23. 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 has a twelve month low of $12.42 and a twelve month high of $17.92.

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

LCNB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.89%. LCNB's dividend payout ratio (DPR) is presently 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.