LCNB (NASDAQ:LCNB) Lifted to Strong-Buy at Zacks Investment Research

LCNB (NASDAQ:LCNB) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, reports. The brokerage presently has a $23.00 price target on the bank’s stock. Zacks Investment Research’s target price indicates a potential upside of 18.62% from the company’s previous close.

According to Zacks, “LCNB Corp. is a financial holding company. The Company, through its subsidiaries, LCNB National Bank and Dakin Insurance Agency, Inc., is engaged in the commercial banking and insurance agency businesses. Headquartered in Lebanon, Ohio, the Bank is a full service community bank offering a range of commercial and personal banking services. In addition, the company provides safe deposit boxes, night depositories, U.S. savings bonds, travelers’ checks, money orders, cashier’s checks, bank-by-mail, automated teller machines (ATMs), cash and transaction services, debit cards, wire transfers, electronic funds transfer, utility bill collections, notary public services, personal computer based cash management services, telephone banking, and Internet banking services for individuals and businesses. Further, LCNB, through its subsidiary, Dakin Insurance Agency, Inc., engages in insurance agency businesses. It involves in the sale and servicing of personal and commercial insurance products, and annuity products. “

Separately, started coverage on shares of LCNB in a research note on Monday. They set a “hold” rating on the stock.


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Shares of LCNB stock opened at $19.39 on Wednesday. The firm has a market cap of $275.49 million, a price-to-earnings ratio of 11.68 and a beta of 0.75. The firm has a 50-day moving average of $19.70. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. LCNB has a 1 year low of $15.85 and a 1 year high of $20.69.

LCNB (NASDAQ:LCNB) last issued its earnings results on Friday, January 28th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. LCNB had a net margin of 27.09% and a return on equity of 8.77%. Equities analysts expect that LCNB will post 1.55 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LCNB. Susquehanna International Group LLP acquired a new stake in LCNB during the second quarter worth about $198,000. Dimensional Fund Advisors LP increased its stake in shares of LCNB by 10.5% in the second quarter. Dimensional Fund Advisors LP now owns 351,423 shares of the bank’s stock valued at $5,753,000 after purchasing an additional 33,487 shares during the period. FMR LLC increased its stake in shares of LCNB by 15.2% in the second quarter. FMR LLC now owns 148,409 shares of the bank’s stock valued at $2,429,000 after purchasing an additional 19,600 shares during the period. Jump Financial LLC acquired a new stake in shares of LCNB in the second quarter valued at approximately $177,000. Finally, Renaissance Technologies LLC increased its stake in shares of LCNB by 35.6% in the second quarter. Renaissance Technologies LLC now owns 238,016 shares of the bank’s stock valued at $3,896,000 after purchasing an additional 62,500 shares during the period. Hedge funds and other institutional investors own 36.96% of the company’s stock.

About LCNB

LCNB Corp. is a financial holding company, which offers commercial and personal banking services. It offers services such as checking rates, debit card resources, electronic banking, fraud and identity theft, education and awareness. The company was founded in December 1998 and is headquartered in Lebanon, OH.

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