LCNB Corp. (NASDAQ:LCNB) Short Interest Down 10.9% in December

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

Wall Street Analysts Forecast Growth

Separately, Hovde Group initiated coverage on shares of LCNB in a research note on Friday, December 20th. They set a “market perform” rating and a $16.25 price objective for the company.

LCNB Stock Performance

NASDAQ:LCNB opened at $15.07 on Friday. The company has a market cap of $212.64 million, a P/E ratio of 29.55 and a beta of 0.79. The firm’s 50 day moving average is $16.15 and its two-hundred day moving average is $15.37. LCNB has a fifty-two week low of $12.42 and a fifty-two week high of $17.92. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

LCNB (NASDAQ:LCNB) last issued its earnings results on Monday, October 21st. The bank reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.04. The business had revenue of $32.81 million for the quarter, compared to analyst estimates of $21.30 million. LCNB had a return on equity of 6.39% and a net margin of 5.88%. Analysts expect that LCNB will post 1.09 EPS for the current year.

LCNB Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Allworth Financial LP acquired a new stake in shares of LCNB in the third quarter worth $50,000. Kimelman & Baird LLC acquired a new stake in LCNB in the 2nd quarter valued at $160,000. Rhumbline Advisers raised its position in 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 purchasing an additional 1,207 shares during the period. Souders Financial Advisors purchased a new position in LCNB in the second quarter valued at about $231,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of LCNB by 268.9% during the third quarter. JPMorgan Chase & Co. now owns 20,446 shares of the bank’s stock worth $308,000 after purchasing an additional 14,904 shares in the last quarter. Hedge funds and other institutional investors own 34.73% of the company’s stock.

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.