Short Interest in LCNB Corp. (NASDAQ:LCNB) Decreases By 10.9%

LCNB Corp. (NASDAQ:LCNB) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 95,200 shares, a decrease of 10.9% from the December 15th total of 106,800 shares. Based on an average trading volume of 21,300 shares, the short-interest ratio is currently 4.5 days.

LCNB Stock Performance

Shares of LCNB stock remained flat at $15.07 on Friday. 17,879 shares of the stock were exchanged, compared to its average volume of 18,052. The business has a 50-day simple moving average of $16.15 and a 200 day simple moving average of $15.37. 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 has a twelve month low of $12.42 and a twelve month high of $17.92. The stock has a market cap of $212.64 million, a price-to-earnings ratio of 29.55 and a beta of 0.79.

LCNB (NASDAQ:LCNB) last announced its earnings results on Monday, October 21st. The bank reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. LCNB had a return on equity of 6.39% and a net margin of 5.88%. The company had revenue of $32.81 million for the quarter, compared to analyst estimates of $21.30 million. As a group, sell-side analysts predict that LCNB will post 1.09 EPS for the current year.

LCNB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date of this dividend was Monday, December 2nd. LCNB’s dividend payout ratio (DPR) is currently 172.55%.

Analyst Upgrades and Downgrades

Separately, Hovde Group began coverage on LCNB in a report on Friday, December 20th. They set a “market perform” rating and a $16.25 price target for the company.

Institutional Investors Weigh In On LCNB

A number of hedge funds have recently added to or reduced their stakes in LCNB. Baker Ellis Asset Management LLC raised its stake in shares of LCNB by 23.6% in the fourth quarter. Baker Ellis Asset Management LLC now owns 26,200 shares of the bank’s stock valued at $396,000 after acquiring an additional 5,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in LCNB by 268.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,446 shares of the bank’s stock valued at $308,000 after purchasing an additional 14,904 shares in the last quarter. Barclays PLC grew its position in shares of LCNB by 79.3% during the third quarter. Barclays PLC now owns 27,855 shares of the bank’s stock worth $419,000 after buying an additional 12,322 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of LCNB by 7.0% during the third quarter. Geode Capital Management LLC now owns 299,492 shares of the bank’s stock worth $4,514,000 after buying an additional 19,687 shares during the period. Finally, State Street Corp lifted its stake in LCNB by 1.3% in the third quarter. State Street Corp now owns 153,579 shares of the bank’s stock worth $2,314,000 after acquiring an additional 2,025 shares during the last quarter. 34.73% of the stock is currently owned by institutional investors and hedge funds.

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.