Lawrence P. Mulligan Jr., Executive Vice President of LCNB Corp (NASDAQ:LCNB), recently acquired 1,000 shares of the company's common stock. The purchase was executed on November 7, 2024, at an average price of $16.83 per share, totaling approximately $16,830. Following this transaction, Mulligan holds 25,977 shares directly. The acquisition was conducted in multiple trades, with prices ranging from $14.29 to $14.36 per share.
InvestingPro Insights
Lawrence P. Mulligan Jr.'s recent acquisition of LCNB Corp shares aligns with several positive indicators highlighted by InvestingPro. The company has demonstrated a strong commitment to shareholder returns, with InvestingPro Tips noting that LCNB has raised its dividend for 6 consecutive years and maintained dividend payments for an impressive 25 consecutive years. This consistent dividend policy may have influenced Mulligan's decision to increase his stake in the company.
The stock's recent performance has been particularly noteworthy, with InvestingPro Data showing a 9.37% return over the past week and an 18.92% return over the last month. These short-term gains are part of a broader trend, as LCNB has seen a 28.98% price total return over the past three months. This positive momentum has brought the stock price to 97.45% of its 52-week high, suggesting strong investor confidence.
Despite trading at a relatively high P/E ratio of 32.61, LCNB's dividend yield of 5.13% may be attractive to income-focused investors like Mulligan. The company's profitability over the last twelve months, as indicated by InvestingPro Tips, further supports the potential for continued dividend payments.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips on LCNB Corp, providing a deeper understanding of the company's financial health and market position.
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