“We continue to view LCNB Corp. as a well-managed community bank franchise with a balanced approach of acquisitive expansion coupled with prudent organic growth in its legacy footprint of Southwest Ohio and more recently in Columbus. While the company’s recent fundamental performance has been solid, accelerating organic loan growth has proved challenging. We believe improvement in this area serves as the clearest near-term driver for generating a consistent ROA in-line with LCNB’s historical run-rate of +1.00%, making the company’s recent acquisition announcement a large step in the right direction, in our view. LCNB shares trade at just 12.3x our 2018 EPS estimate and 180% of pro-forma tangible book. The tangible book multiple is slightly below peers, despite LCNB’s in-line return metrics, while the P/E multiple represents a deeper discount to the peer group.”,” the firm’s analyst commented.
LCNB has been the topic of several other reports. Zacks Investment Research raised shares of LCNB from a hold rating to a buy rating and set a $21.00 price target on the stock in a research note on Tuesday, April 3rd. ValuEngine cut shares of LCNB from a buy rating to a hold rating in a research note on Friday, February 2nd.
Shares of LCNB traded up $0.10 during mid-day trading on Thursday, hitting $18.80. 6,257 shares of the company traded hands, compared to its average volume of 13,129. LCNB has a one year low of $18.05 and a one year high of $23.65. The stock has a market capitalization of $187.99, a P/E ratio of 14.65 and a beta of 0.29.
LCNB (NASDAQ:LCNB) last released its quarterly earnings results on Wednesday, April 18th. The bank reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.05). LCNB had a net margin of 22.45% and a return on equity of 8.60%. The company had revenue of $12.82 million for the quarter, compared to the consensus estimate of $13.14 million. sell-side analysts anticipate that LCNB will post 1.58 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in LCNB by 66.8% in the third quarter. Dimensional Fund Advisors LP now owns 64,700 shares of the bank’s stock valued at $1,355,000 after buying an additional 25,921 shares during the period. Wells Fargo & Company MN lifted its holdings in LCNB by 22.1% in the third quarter. Wells Fargo & Company MN now owns 19,997 shares of the bank’s stock valued at $419,000 after buying an additional 3,618 shares during the period. Strs Ohio lifted its holdings in LCNB by 268.8% in the fourth quarter. Strs Ohio now owns 5,900 shares of the bank’s stock valued at $120,000 after buying an additional 4,300 shares during the period. Deutsche Bank AG lifted its holdings in LCNB by 60.8% in the fourth quarter. Deutsche Bank AG now owns 37,431 shares of the bank’s stock valued at $764,000 after buying an additional 14,152 shares during the period. Finally, BlackRock Inc. lifted its holdings in LCNB by 1.4% in the fourth quarter. BlackRock Inc. now owns 420,689 shares of the bank’s stock valued at $8,603,000 after buying an additional 5,640 shares during the period. Institutional investors and hedge funds own 37.05% of the company’s stock.
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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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