LCNB Corporation (NASDAQ:LCNB) – Investment analysts at Boenning Scattergood upped their Q3 2018 earnings per share estimates for LCNB in a note issued to investors on Tuesday. Boenning Scattergood analyst S. Beury now anticipates that the bank will post earnings per share of $0.40 for the quarter, up from their prior forecast of $0.39. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for LCNB’s Q4 2018 earnings at $0.43 EPS, FY2018 earnings at $1.56 EPS and FY2019 earnings at $1.78 EPS.
A number of other brokerages have also recently issued reports on LCNB. Zacks Investment Research cut LCNB from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. ValuEngine raised LCNB from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th.
LCNB (NASDAQ:LCNB) last posted its quarterly earnings results on Wednesday, October 18th. The bank reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. LCNB had a return on equity of 8.88% and a net margin of 23.84%. The company had revenue of $12.81 million during the quarter, compared to analysts’ expectations of $13.05 million.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of LCNB by 23.6% in the second quarter. Vanguard Group Inc. now owns 341,794 shares of the bank’s stock worth $6,836,000 after purchasing an additional 65,300 shares during the last quarter. State Street Corp raised its stake in shares of LCNB by 9.8% in the second quarter. State Street Corp now owns 159,567 shares of the bank’s stock worth $3,194,000 after purchasing an additional 14,183 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of LCNB by 1,415.6% in the second quarter. Goldman Sachs Group Inc. now owns 128,266 shares of the bank’s stock worth $2,565,000 after purchasing an additional 119,803 shares during the last quarter. Northern Trust Corp raised its stake in shares of LCNB by 10.5% in the second quarter. Northern Trust Corp now owns 95,610 shares of the bank’s stock worth $1,913,000 after purchasing an additional 9,121 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of LCNB by 66.8% in the third quarter. Dimensional Fund Advisors LP now owns 64,700 shares of the bank’s stock worth $1,355,000 after purchasing an additional 25,921 shares during the last quarter. 37.21% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman Stephen P. Wilson sold 1,800 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $21.56, for a total transaction of $38,808.00. Following the sale, the chairman now owns 60,293 shares in the company, valued at approximately $1,299,917.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Stephen P. Wilson sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $21.08, for a total value of $42,160.00. Following the transaction, the chairman now directly owns 63,093 shares in the company, valued at $1,330,000.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,800 shares of company stock worth $102,278. 4.16% of the stock is owned by corporate insiders.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.09%. LCNB’s payout ratio is 49.23%.
LCNB Company Profile
LCNB Corp. (LCNB) is a financial holding company. The Company’s subsidiary includes LCNB National Bank (the Bank). The Bank offers commercial and personal banking services. Its services include safe deposit boxes, night depositories, cashier’s checks, utility bill collections, notary public service, mobile banking and other services tailored for both individuals and businesses.
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