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LCNB
(NASDAQ:LCNB)
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Rating:74Outperform
Price Target:
$21.00
â–²(8.58% Upside)
Action:Reiterated
Date:10/16/26
The score is driven mainly by improving financial performance (strong TTM rebound, healthier margins, reduced leverage, and solid cash conversion) and supportive valuation (low P/E and high dividend yield). This is tempered by weaker near-term technical momentum (negative MACD and sub-50 RSI with price below short-term moving averages).
Positive Factors
Net Interest Margin Expansion
Net interest margin expansion from 2.84% to 3.92% over two years indicates that balance-sheet optimization and funding discipline are improving the bank’s core spread economics. That structural progress can support recurring net interest income and provide a stronger base for profitable organic growth.
Negative Factors
Higher Credit Costs
Higher credit costs, net charge-offs, and nonperforming loans indicate that asset-quality pressure is increasing even as overall earnings improve. If these conditions persist, provisions could absorb more of the bank’s net interest income, reduce profitability, and constrain capital available for growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Net Interest Margin Expansion
Net interest margin expansion from 2.84% to 3.92% over two years indicates that balance-sheet optimization and funding discipline are improving the bank’s core spread economics. That structural progress can support recurring net interest income and provide a stronger base for profitable organic growth.
Read all positive factors
LCNB (LCNB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$281.39M
Dividend Yield4.46%
Average Volume (3M)29.43K
Price to Earnings (P/E)11.2
Beta (1Y)0.51
Revenue Growth-1.78%
EPS Growth5.34%
CountryUS
Employees346
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.73
Shares Outstanding14,262,125
10 Day Avg. Volume23,625
30 Day Avg. Volume29,430
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)0.84
Price to Sales (P/S)1.86
P/FCF Ratio6.90
Enterprise Value/Market Cap1.22
Enterprise Value/Revenue2.76
Enterprise Value/Gross Profit3.74
Enterprise Value/Ebitda10.32
Forecast
1Y Price Target
$20.00Price Target Upside3.41% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)1.8
Revenue Forecast (FY)$98.10M
LCNB Business Overview & Revenue Model
Company Description
LCNB Corp. functions as the parent entity of LCNB National Bank, delivering comprehensive banking solutions across Ohio. The bank offers a variety of deposit options, such as checking, demand, savings, NOW, and money market accounts, alongside cer...
How the Company Makes Money
LCNB primarily makes money through its banking operations. The largest driver is typically net interest income: it earns interest and fees on loans (such as commercial, residential real estate, and consumer loans) and on its securities/other inter...
LCNB Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 124.61M | 124.24M | 125.42M | 95.01M | 80.04M | 75.99M |
| Gross Profit | 92.03M | 89.78M | 79.24M | 69.68M | 75.08M | 72.21M |
| EBITDA | 33.33M | 28.82M | 16.57M | 18.25M | 29.69M | 28.20M |
| Net Income | 24.53M | 23.12M | 13.49M | 12.63M | 22.13M | 20.97M |
Balance Sheet | ||||||
| Total Assets | 2.22B | 2.24B | 2.31B | 2.29B | 1.92B | 1.90B |
| Cash, Cash Equivalents and Short-Term Investments | 234.93M | 250.62M | 134.86M | 316.32M | 312.55M | 326.31M |
| Total Debt | 103.84M | 118.18M | 161.27M | 216.78M | 96.90M | 16.47M |
| Total Liabilities | 1.94B | 1.97B | 2.05B | 2.06B | 1.72B | 1.67B |
| Stockholders Equity | 280.62M | 273.93M | 253.04M | 235.30M | 200.68M | 238.60M |
Cash Flow | ||||||
| Free Cash Flow | 36.26M | 33.44M | 89.44M | 20.75M | 27.83M | 15.88M |
| Operating Cash Flow | 38.61M | 34.40M | 93.24M | 23.36M | 28.71M | 17.82M |
| Investing Cash Flow | 49.80M | 52.05M | 61.39M | -60.41M | -48.38M | -175.22M |
| Financing Cash Flow | -113.33M | -100.58M | -158.61M | 54.07M | 24.23M | 143.80M |
LCNB Technical Analysis
Positive
19.34
Price Trends
19.05
Positive
18.64
Positive
17.40
Positive
Market Momentum
0.12
Negative
63.79
Neutral
82.82
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LCNB, the sentiment is Positive. The current price of 19.34 is above the 20-day moving average (MA) of 18.89, above the 50-day MA of 19.05, and above the 200-day MA of 17.40, indicating a bullish trend. The MACD of 0.12 indicates Negative momentum. The RSI at 63.79 is Neutral, neither overbought nor oversold. The STOCH value of 82.82 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LCNB.
LCNB Risk Analysis
LCNB disclosed 27 risk factors in its most recent earnings report. LCNB reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
LCNB Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $334.90M | 12.56 | 15.42% | ― | 14.46% | 23.69% | |
76 Outperform | $271.13M | 10.29 | 15.15% | 2.11% | 4.90% | 24.16% | |
75 Outperform | $306.80M | 11.82 | 9.48% | 3.11% | -2.70% | 296.51% | |
74 Outperform | $349.00M | 11.97 | 10.99% | 1.77% | 8.95% | 18.66% | |
74 Outperform | $281.39M | 11.21 | 8.95% | 4.46% | -1.78% | 5.34% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $311.13M | 11.41 | 17.50% | 1.96% | 18.81% | 19.11% |
* Financial Sector Average
LCNB
LCNB
19.73
5.23
36.03%
CFFI
C&F Financial
107.33
40.48
60.55%
FCCO
First Community
33.10
6.25
23.26%
HWBK
Hawthorn Bancshares
39.29
10.08
34.50%
BPRN
Bank of Princeton
45.03
15.71
53.55%
CBNA
Chain Bridge Bancorp, Inc. Class A
51.00
21.21
71.20%
LCNB Corporate Events
Business Operations and StrategyDividendsFinancial DisclosuresPrivate Placements and Financing
LCNB Corp Reports Strong Third-Quarter Earnings Growth
Positive
Oct 15, 2026
On October 15, 2026, LCNB Corp. reported higher earnings for the three and nine months ended September 30, 2026, with third-quarter net income rising 5.4% year over year to $7.3 million, or $0.51 per diluted share, and nine-month net income increa...
Business Operations and StrategyExecutive/Board Changes
LCNB Announces Wealth Leadership Transition and Succession Plans
Positive
Sep 17, 2026
On September 17, 2026, LCNB Corp. announced that Executive Vice President and Chief Wealth Officer Michael R. Miller will retire from both the company and LCNB National Bank effective March 31, 2027. Miller, who joined LCNB in 2017 and has more th...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
LCNB Adds Experienced Director, Updates Executive Change-in-Control Agreements
Positive
Aug 19, 2026
On August 18, 2026, LCNB Corp., the NASDAQ-listed holding company for LCNB National Bank, appointed veteran banking and legal executive Susan B. Zaunbrecher to the boards of both the company and its bank subsidiary. Zaunbrecher, formerly Chief Leg...
Business Operations and StrategyPrivate Placements and Financing
LCNB Corp Completes $25 Million Subordinated Notes Offering
Positive
Aug 7, 2026
LCNB Corp. is a financial holding company headquartered in Lebanon, Ohio, that operates LCNB National Bank across Southwest and South-Central Ohio, offering a broad range of personal and business banking services. Its portfolio spans checking and ...
Business Operations and StrategyRegulatory Filings and Compliance
LCNB Highlights Investor Presentation Under Regulation FD Disclosure
Neutral
Aug 7, 2026
LCNB Corp. disclosed that it plans to use materials identified as Exhibit 99.1 in upcoming meetings with investors and analysts, signaling a continued focus on structured communication with the investment community. The company clarified that the ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.