LCNB (NASDAQ:LCNB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

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. “

Other research analysts have also recently issued research reports about the company. BidaskClub cut LCNB from a “hold” rating to a “sell” rating in a research report on Saturday, August 25th. ValuEngine cut LCNB from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Finally, Boenning Scattergood restated a “hold” rating on shares of LCNB in a research report on Tuesday, July 31st.

LCNB stock opened at $18.30 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market cap of $248.71 million, a price-to-earnings ratio of 14.57 and a beta of 0.29. LCNB has a fifty-two week low of $17.93 and a fifty-two week high of $22.84.

LCNB (NASDAQ:LCNB) last issued its quarterly earnings results on Friday, July 20th. The bank reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.01). LCNB had a return on equity of 8.04% and a net margin of 19.98%. The company had revenue of $14.16 million during the quarter, compared to the consensus estimate of $14.45 million. equities analysts expect that LCNB will post 1.5 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in LCNB by 79.2% in the second quarter. Millennium Management LLC now owns 51,630 shares of the bank’s stock valued at $1,017,000 after buying an additional 22,815 shares in the last quarter. Bank of America Corp DE boosted its stake in LCNB by 928.7% in the second quarter. Bank of America Corp DE now owns 29,914 shares of the bank’s stock valued at $589,000 after buying an additional 27,006 shares in the last quarter. Renaissance Technologies LLC boosted its stake in LCNB by 24.4% in the second quarter. Renaissance Technologies LLC now owns 147,800 shares of the bank’s stock valued at $2,912,000 after buying an additional 29,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in LCNB by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 153,089 shares of the bank’s stock valued at $3,016,000 after buying an additional 24,073 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in LCNB by 12.4% in the second quarter. BlackRock Inc. now owns 472,313 shares of the bank’s stock valued at $9,305,000 after buying an additional 52,203 shares in the last quarter. 28.26% of the stock is currently owned by institutional investors and hedge funds.

LCNB Company Profile

LCNB Corp., a financial holding company, provides commercial and personal banking services in Ohio. Its deposit products include checking, NOW, savings, Christmas and vacation club, money market deposit, lifetime checking, and individual retirement accounts, as well as certificates of deposit. The company's loan portfolio comprises commercial and industrial, commercial and residential real estate, agricultural, construction, small business administration, and residential mortgage loans.

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