Lenox Wealth Management Inc. acquired a new position in shares of LCNB Corp. (NASDAQ:LCNB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 122,181 shares of the bank’s stock, valued at approximately $2,167,000. Lenox Wealth Management Inc. owned approximately 0.94% of LCNB at the end of the most recent quarter.
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Other institutional investors also recently modified their holdings of the company. Advanced Asset Management Advisors Inc acquired a new stake in LCNB during the 3rd quarter valued at $883,000. Rhumbline Advisers increased its stake in LCNB by 9.5% in the third quarter. Rhumbline Advisers now owns 16,919 shares of the bank’s stock valued at $300,000 after purchasing an additional 1,467 shares during the last quarter. Strs Ohio grew its holdings in LCNB by 51.4% in the third quarter. Strs Ohio now owns 31,800 shares of the bank’s stock valued at $564,000 after purchasing an additional 10,800 shares during the period. Wealthquest Corp acquired a new position in LCNB during the third quarter worth approximately $1,118,000. Finally, Vanguard Group Inc. increased its holdings in shares of LCNB by 27.3% during the 2nd quarter. Vanguard Group Inc. now owns 586,345 shares of the bank’s stock worth $11,141,000 after buying an additional 125,916 shares during the last quarter. Institutional investors and hedge funds own 35.63% of the company’s stock.
Shares of LCNB stock opened at $18.37 on Tuesday. LCNB Corp. has a 52 week low of $14.56 and a 52 week high of $19.94. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market cap of $239.66 million, a P/E ratio of 13.22 and a beta of 0.57. The business has a 50 day moving average of $18.03 and a two-hundred day moving average of $17.60.
LCNB (NASDAQ:LCNB) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $16.74 million. LCNB had a net margin of 25.22% and a return on equity of 8.76%. Analysts expect that LCNB Corp. will post 1.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.92%. This is an increase from LCNB’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, November 29th. LCNB’s dividend payout ratio is currently 51.80%.
In other news, EVP John F. Smiley sold 4,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.35, for a total value of $73,400.00. Following the completion of the sale, the executive vice president now directly owns 96,544 shares in the company, valued at $1,771,582.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John F. Smiley sold 1,416 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $18.08, for a total transaction of $25,601.28. Following the sale, the executive vice president now owns 108,983 shares of the company’s stock, valued at $1,970,412.64. The disclosure for this sale can be found here. Insiders sold a total of 16,488 shares of company stock worth $301,794 in the last three months. 6.45% of the stock is currently owned by company insiders.
LCNB has been the subject of a number of research reports. ValuEngine cut LCNB from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Boenning Scattergood reissued a “neutral” rating on shares of LCNB in a research report on Thursday, October 31st. Finally, Zacks Investment Research lowered LCNB from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th.
LCNB Corp. operates as the financial holding company for LCNB National Bank that provides commercial and personal banking services in Ohio. The company's 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.
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