LCNB Corp. (NASDAQ:LCNB) Increases Dividend to $0.21 Per Share

LCNB Corp. (NASDAQ:LCNBGet Rating) declared a quarterly dividend on Monday, November 21st, Zacks reports. Shareholders of record on Thursday, December 1st will be given a dividend of 0.21 per share by the bank on Thursday, December 15th. This represents a $0.84 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Wednesday, November 30th. This is a boost from LCNB’s previous quarterly dividend of $0.20.

LCNB has increased its dividend payment by an average of 5.8% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. LCNB has a dividend payout ratio of 44.0% indicating that its dividend is sufficiently covered by earnings.

LCNB Stock Up 1.8 %

LCNB opened at $17.92 on Wednesday. LCNB has a fifty-two week low of $14.73 and a fifty-two week high of $20.69. The firm has a market capitalization of $201.96 million, a P/E ratio of 9.90 and a beta of 0.71. The company’s 50-day moving average is $16.69 and its 200 day moving average is $15.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

Analysts Set New Price Targets

Separately, upgraded LCNB from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 13th.

Institutional Investors Weigh In On LCNB

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in LCNB by 2.0% during the first quarter. Vanguard Group Inc. now owns 549,216 shares of the bank’s stock worth $9,644,000 after buying an additional 10,925 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of LCNB by 4.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 402,739 shares of the bank’s stock worth $7,072,000 after purchasing an additional 18,243 shares during the period. Renaissance Technologies LLC lifted its stake in LCNB by 6.7% in the first quarter. Renaissance Technologies LLC now owns 169,116 shares of the bank’s stock valued at $2,970,000 after purchasing an additional 10,600 shares during the last quarter. Millennium Management LLC increased its position in LCNB by 9.6% in the second quarter. Millennium Management LLC now owns 167,675 shares of the bank’s stock worth $2,507,000 after buying an additional 14,643 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of LCNB by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 67,698 shares of the bank’s stock valued at $1,189,000 after buying an additional 1,318 shares during the period. 37.39% of the stock is owned by hedge funds and other institutional investors.

About LCNB

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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 certificates of deposit. 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.

See Also

Dividend History for LCNB (NASDAQ:LCNB)

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