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LCNB
(NASDAQ:LCNB)
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Rating:74Outperform
Price Target:
$22.50
▲(12.50% Upside)
Action:Reiterated
Date:08/08/26
LCNB scores well primarily on improving financial performance (rebounding growth/margins, strong cash conversion, and lower leverage). Valuation adds support via a low P/E and solid dividend yield, while technicals are favorable but moderate. The recent subordinated notes offering is a modest positive for capital flexibility, tempered by added debt.
Positive Factors
Improved Leverage
Material deleveraging meaningfully strengthens capital resilience and reduces financial risk. Lower debt-to-equity improves regulatory headroom and funding flexibility, enabling the bank to support lending and strategic initiatives with less reliance on costly borrowings over the medium term.
Negative Factors
Earnings & Cash Flow Volatility
Significant variability in margins and operating cash flow erodes predictability of earnings and free cash flow, complicating capital planning and stress-resilience. Persistent volatility can force conservative provisioning, reduce dividend confidence, and limit long-term strategic commitments.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Leverage
Material deleveraging meaningfully strengthens capital resilience and reduces financial risk. Lower debt-to-equity improves regulatory headroom and funding flexibility, enabling the bank to support lending and strategic initiatives with less reliance on costly borrowings over the medium term.
Read all positive factors
LCNB (LCNB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$283.53M
Dividend Yield4.36%
Average Volume (3M)25.25K
Price to Earnings (P/E)11.6
Beta (1Y)0.60
Revenue Growth-2.20%
EPS Growth15.53%
CountryUS
Employees346
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.73
Shares Outstanding14,254,988
10 Day Avg. Volume35,438
30 Day Avg. Volume25,247
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
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 earns money through (1) net interest income and (2) noninterest income. Net interest income is generated by collecting interest on interest-earning assets—primarily loans (such as commercial loans, consumer loans, and residential re...
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 | 32.57M | 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
20.00
Price Trends
18.65
Positive
17.41
Positive
16.75
Positive
Market Momentum
0.36
Positive
58.97
Neutral
64.34
Neutral
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 20 is above the 20-day moving average (MA) of 19.97, above the 50-day MA of 18.65, and above the 200-day MA of 16.75, indicating a bullish trend. The MACD of 0.36 indicates Positive momentum. The RSI at 58.97 is Neutral, neither overbought nor oversold. The STOCH value of 64.34 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $274.03M | 10.45 | 15.01% | 2.14% | 4.90% | 24.16% | |
75 Outperform | $291.33M | 11.22 | 9.48% | 3.30% | -2.70% | 296.51% | |
74 Outperform | $283.53M | 11.62 | 8.92% | 4.32% | -2.20% | 15.53% | |
74 Outperform | $279.52M | 9.58 | 10.99% | 2.41% | 8.95% | 18.66% | |
74 Outperform | $309.16M | 11.46 | 15.42% | ― | 14.46% | 23.69% | |
73 Outperform | $326.17M | 12.76 | 12.17% | 1.90% | 15.68% | 20.07% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
LCNB
LCNB
20.20
5.73
39.59%
CFFI
C&F Financial
87.62
21.30
32.11%
FCCO
First Community
34.45
8.75
34.05%
HWBK
Hawthorn Bancshares
39.76
10.62
36.46%
BPRN
Bank of Princeton
43.16
11.60
36.76%
CBNA
Chain Bridge Bancorp, Inc. Class A
47.41
20.41
75.59%
LCNB Corporate Events
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.