Eric J. Meilstrup, CEO and President of LCNB Corp (NASDAQ:LCNB), recently purchased 250 shares of the company's common stock. The shares were acquired at an average price of $17.54 each, bringing the total transaction value to approximately $4,384. Following this transaction, Meilstrup holds a total of 39,210 shares directly. This move reflects continued confidence in the company from its top executive.
InvestingPro Insights
Eric J. Meilstrup's recent purchase of LCNB Corp (NASDAQ:LCNB) shares aligns with several positive indicators highlighted by InvestingPro. The company's stock has shown strong performance, with a 25.93% price total return over the past six months and an 18.16% return in the last month. This upward momentum has brought LCNB's stock price to 96.88% of its 52-week high, suggesting investor optimism.
LCNB's financial health appears robust, with the company maintaining profitability over the last twelve months. An InvestingPro Tip notes that LCNB has raised its dividend for 7 consecutive years, demonstrating a commitment to shareholder returns. The current dividend yield stands at an attractive 4.99%, which may be appealing to income-focused investors.
However, it's worth noting that LCNB is trading at a relatively high P/E ratio of 33.24, indicating that the stock may be priced at a premium compared to its earnings. This valuation metric should be considered alongside the company's growth prospects and dividend history.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for LCNB, providing a deeper understanding of the company's financial position and market performance.
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