LCNB Corp. (NASDAQ:LCNB) Short Interest Down 17.7% in November

LCNB Corp. (NASDAQ:LCNB) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 107,800 shares, a drop of 17.7% from the October 31st total of 131,000 shares. Based on an average daily trading volume, of 20,500 shares, the days-to-cover ratio is currently 5.3 days.

Hedge Funds Weigh In On LCNB

Several institutional investors and hedge funds have recently made changes to their positions in LCNB. Vanguard Group Inc. raised its holdings in LCNB by 43.2% in the first quarter. Vanguard Group Inc. now owns 766,198 shares of the bank’s stock valued at $12,213,000 after acquiring an additional 231,035 shares in the last quarter. Geode Capital Management LLC increased its position in shares of LCNB by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 299,492 shares of the bank’s stock worth $4,514,000 after purchasing an additional 19,687 shares during the last quarter. Souders Financial Advisors bought a new stake in shares of LCNB in the 2nd quarter worth about $231,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of LCNB by 117.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,413 shares of the bank’s stock valued at $383,000 after purchasing an additional 13,716 shares in the last quarter. Finally, Financial Counselors Inc. bought a new position in shares of LCNB during the second quarter worth about $172,000. 34.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

LCNB Price Performance

LCNB opened at $17.54 on Monday. LCNB has a twelve month low of $12.42 and a twelve month high of $17.92. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61. The firm has a market cap of $247.49 million, a price-to-earnings ratio of 34.39 and a beta of 0.75. The company has a fifty day simple moving average of $15.82 and a 200 day simple moving average of $14.92.

LCNB (NASDAQ:LCNB) last announced its earnings results on Monday, October 21st. The bank reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. LCNB had a return on equity of 6.39% and a net margin of 5.88%. The business had revenue of $32.81 million for the quarter, compared to analyst estimates of $21.30 million. Equities research analysts expect that LCNB will post 1.09 EPS for the current fiscal year.

LCNB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Monday, December 2nd. LCNB’s payout ratio is 172.55%.

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.