Kimelman & Baird LLC Takes Position in LCNB Corp. (NASDAQ:LCNB)

Kimelman & Baird LLC bought a new stake in shares of LCNB Corp. (NASDAQ:LCNB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,500 shares of the bank’s stock, valued at approximately $160,000. Kimelman & Baird LLC owned about 0.08% of LCNB as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LCNB. BNP Paribas Financial Markets lifted its stake in LCNB by 70.6% in the 1st quarter. BNP Paribas Financial Markets now owns 5,629 shares of the bank’s stock worth $90,000 after acquiring an additional 2,329 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new stake in LCNB in the 1st quarter worth about $175,000. Financial Counselors Inc. purchased a new stake in LCNB in the 2nd quarter worth about $172,000. Rhumbline Advisers lifted its stake in LCNB by 10.4% in the 2nd quarter. Rhumbline Advisers now owns 12,841 shares of the bank’s stock worth $179,000 after acquiring an additional 1,207 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. lifted its stake in LCNB by 12.6% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 15,815 shares of the bank’s stock worth $220,000 after acquiring an additional 1,772 shares in the last quarter. 34.73% of the stock is owned by hedge funds and other institutional investors.

LCNB Stock Up 0.1 %

LCNB opened at $15.07 on Tuesday. LCNB Corp. has a fifty-two week low of $12.42 and a fifty-two week high of $17.09. The business has a 50-day moving average of $14.99 and a 200-day moving average of $14.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.93 and a quick ratio of 0.90. The company has a market capitalization of $213.14 million, a PE ratio of 16.38 and a beta of 0.76.

LCNB (NASDAQ:LCNB) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.11. LCNB had a return on equity of 6.55% and a net margin of 5.97%. The company had revenue of $19.30 million during the quarter, compared to the consensus estimate of $18.50 million. Equities research analysts forecast that LCNB Corp. will post 1 EPS for the current fiscal year.

LCNB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date was Tuesday, September 3rd. LCNB’s dividend payout ratio (DPR) is presently 95.65%.

Analyst Ratings Changes

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

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.