Piper Sandler Begins Coverage on LCNB (NASDAQ:LCNB)

Analysts at Piper Sandler began coverage on shares of LCNB (NASDAQ:LCNB) in a report released on Thursday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $20.00 price target on the bank’s stock. Piper Sandler’s price objective suggests a potential upside of 5.60% from the stock’s current price.

A number of other brokerages have also recently weighed in on LCNB. Wall Street Zen upgraded shares of LCNB from a “hold” rating to a “buy” rating in a research note on Sunday, September 6th. Zacks Research cut shares of LCNB from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of LCNB in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.00.

LCNB Stock Performance

Shares of LCNB stock opened at $18.94 on Thursday. LCNB has a 12-month low of $14.31 and a 12-month high of $21.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $269.99 million, a price-to-earnings ratio of 10.95 and a beta of 0.57. The business has a 50 day simple moving average of $19.29 and a 200 day simple moving average of $17.88.

LCNB (NASDAQ:LCNB) last announced its earnings results on Wednesday, July 15th. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.09. LCNB had a return on equity of 8.92% and a net margin of 19.69%.The firm had revenue of $25.14 million for the quarter, compared to the consensus estimate of $24.00 million. On average, equities research analysts anticipate that LCNB will post 1.73 EPS for the current year.

Institutional Investors Weigh In On LCNB

A number of institutional investors and hedge funds have recently bought and sold shares of LCNB. Squarepoint Ops LLC raised its holdings in shares of LCNB by 16.4% in the 2nd quarter. Squarepoint Ops LLC now owns 20,716 shares of the bank’s stock worth $364,000 after purchasing an additional 2,920 shares in the last quarter. Hsbc Holdings PLC grew its position in LCNB by 9.9% in the second quarter. Hsbc Holdings PLC now owns 48,522 shares of the bank’s stock worth $849,000 after buying an additional 4,357 shares during the last quarter. Kimelman & Baird LLC acquired a new position in LCNB in the second quarter worth approximately $202,000. Empowered Funds LLC acquired a new stake in shares of LCNB during the 2nd quarter valued at $1,431,000. Finally, Axim Planning & Wealth acquired a new stake in shares of LCNB during the 2nd quarter valued at $202,000. 34.73% of the stock is owned by institutional investors and hedge funds.

About LCNB

LCNB Corporation is a bank holding company headquartered in Lebanon, Ohio. Through its principal subsidiary, LCNB National Bank, the company provides community banking services to individuals, families, businesses and organizations.

LCNB National Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, business financing and other credit products. Its services also include online and mobile banking, treasury management, wealth management, trust services and investment services.

The bank primarily serves communities in southwestern and central Ohio, with additional operations in northern Kentucky.