Rhumbline Advisers Raises Stock Position in LCNB Corp. (NASDAQ:LCNB)

Rhumbline Advisers boosted its stake in shares of LCNB Corp. (NASDAQ:LCNB) by 10.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 12,841 shares of the bank’s stock after purchasing an additional 1,207 shares during the quarter. Rhumbline Advisers’ holdings in LCNB were worth $179,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 231,035 shares during the period. Lcnb Corp boosted its position in shares of LCNB by 1.8% during the 1st quarter. Lcnb Corp now owns 503,402 shares of the bank’s stock worth $8,024,000 after purchasing an additional 9,000 shares during the period. Bank of New York Mellon Corp lifted its stake in LCNB by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,326 shares of the bank’s stock worth $811,000 after acquiring an additional 5,237 shares in the last quarter. Empowered Funds LLC increased its stake in LCNB by 8.1% during the 1st quarter. Empowered Funds LLC now owns 49,232 shares of the bank’s stock worth $785,000 after buying an additional 3,675 shares during the period. Finally, Cutter & CO Brokerage Inc. boosted its holdings in LCNB by 12.6% in the second quarter. Cutter & CO Brokerage Inc. now owns 15,815 shares of the bank’s stock valued at $220,000 after purchasing an additional 1,772 shares during the period. 34.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

LCNB Stock Up 1.7 %

LCNB stock opened at $15.05 on Monday. LCNB Corp. has a 12 month low of $12.42 and a 12 month high of $17.09. The company has a market cap of $212.85 million, a price-to-earnings ratio of 16.36 and a beta of 0.76. The company has a fifty day moving average price of $14.99 and a 200 day moving average price of $14.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.93 and a quick ratio of 0.90.

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

LCNB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.85%. LCNB’s payout ratio is 95.65%.

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.