|Over a week ago|
LCNB Corp. reports Q1 EPS 41c, one estimate 30c » 06:0804/2004/20/21
Commenting on the…
Commenting on the financial results, LCNB President and CEO Eric Meilstrup said, "Total assets managed increased to a record of over $3.0 billion, an important milestone for LCNB, as we benefited from strong year-over-year growth across all aspects of our business. Growth in trust and investment assets was particularly strong, which drove a 38.6% increase in fiduciary income. Our trust and investment businesses are important growth drivers, and we are benefiting from over 50 years of providing local, sophisticated, and diverse wealth solutions to our customers." Meilstrup continued, "Our asset quality is encouraging and we had limited net charge-offs in the quarter. At March 31, 2021, we only had six loans in deferral status for $19.6 million, which is a 94.9% decline from the amount of deferrals at June 30, 2020. We also continue to support small businesses within our local communities and during the first quarter we originated 345 new PPP loans for $23.6 million while processing $11.0 million of loan forgiveness under the program."
|Over a quarter ago|
LCNB Corp. upgraded to Outperform from Neutral at Boenning & Scattergood » 07:4901/1201/12/21
Boenning & Scattergood analyst Joseph Plevelich upgraded LCNB Corp. to Outperform from Neutral with a $17.50 price target. The company has "weathered this latest credit cycle extremely well" and its shares reflect "too much pessimism," Plevelich tells investors in a research note. After "badly lagging" peers over the past six months, the shares could appeal to investors that might have missed the rally in many other names, says the analyst.
LCNB Corp. resumed with a Neutral at Boenning & Scattergood » 07:4309/2409/24/20
Boenning & Scattergood analyst Joseph Plevelich initiated coverage of LCNB Corp. with a Neutral rating. The firm is resuming coverage of the community bank sector and has "generally positive views" on the space given that deferrals have peaked and near-term expectations are "relatively muted," although it notes that this emerging credit cycle is early innings and "could last extra innings depending upon the timing of a successful vaccine or treatment for COVID-19."