LCNB Corp. Declares Quarterly Dividend of $0.22 (NASDAQ:LCNB)

LCNB Corp. (NASDAQ:LCNB) declared a quarterly dividend on Monday, May 19th, RTT News reports. Shareholders of record on Monday, June 2nd will be paid a dividend of 0.22 per share by the bank on Monday, June 16th. This represents a $0.88 dividend on an annualized basis and a yield of 5.73%.

LCNB has increased its dividend by an average of 4.6% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. LCNB has a dividend payout ratio of 53.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect LCNB to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 48.9%.

LCNB Price Performance

LCNB stock traded down $0.14 during midday trading on Monday, reaching $15.37. The company had a trading volume of 13,932 shares, compared to its average volume of 22,907. The firm has a 50-day moving average price of $14.60 and a 200-day moving average price of $15.37. LCNB has a 1 year low of $12.42 and a 1 year high of $17.92. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.91. The company has a market capitalization of $217.75 million, a P/E ratio of 15.85 and a beta of 0.64.

LCNB (NASDAQ:LCNB) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). LCNB had a return on equity of 7.12% and a net margin of 10.76%. The company had revenue of $21.52 million during the quarter, compared to analysts’ expectations of $15.80 million. On average, research analysts anticipate that LCNB will post 1.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LCNB

Institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC purchased a new stake in shares of LCNB in the first quarter worth about $206,000. Goldman Sachs Group Inc. grew its holdings in LCNB by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 38,804 shares of the bank’s stock valued at $574,000 after buying an additional 1,851 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in LCNB by 7.0% in the 1st quarter. Empowered Funds LLC now owns 52,377 shares of the bank’s stock worth $775,000 after acquiring an additional 3,421 shares during the last quarter. 34.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of LCNB from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th.

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.