LCNB Corp. (NASDAQ:LCNB) Short Interest Up 20.7% in September

LCNB Corp. (NASDAQ:LCNB) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 137,600 shares, an increase of 20.7% from the September 15th total of 114,000 shares. Based on an average daily trading volume, of 21,200 shares, the days-to-cover ratio is presently 6.5 days.

Hedge Funds Weigh In On LCNB

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in shares of LCNB by 70.6% in the first quarter. BNP Paribas Financial Markets now owns 5,629 shares of the bank’s stock valued at $90,000 after acquiring an additional 2,329 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in LCNB during the 2nd quarter worth about $160,000. Financial Counselors Inc. acquired a new stake in LCNB in the 2nd quarter valued at about $172,000. Baker Ellis Asset Management LLC purchased a new position in shares of LCNB in the 1st quarter valued at about $175,000. Finally, Rhumbline Advisers grew its position in shares of LCNB by 10.4% during the second quarter. Rhumbline Advisers now owns 12,841 shares of the bank’s stock worth $179,000 after buying an additional 1,207 shares in the last quarter. Hedge funds and other institutional investors own 34.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised LCNB from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th.

LCNB Stock Performance

NASDAQ LCNB opened at $14.85 on Wednesday. LCNB has a twelve month low of $12.42 and a twelve month high of $17.09. The stock has a market cap of $210.02 million, a PE ratio of 16.14 and a beta of 0.75. The stock has a fifty day simple moving average of $14.96 and a 200-day simple moving average of $14.55. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.66.

LCNB (NASDAQ:LCNB) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.11. The business had revenue of $19.30 million during the quarter, compared to analysts’ expectations of $18.50 million. LCNB had a return on equity of 6.55% and a net margin of 5.97%. Equities analysts anticipate that LCNB will post 1 earnings per share for the current year.

LCNB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 5.93%. LCNB’s dividend payout ratio (DPR) is presently 95.65%.

LCNB Company Profile

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.