On Aug 20, 2014, shares of
LNB Bancorp Inc.
) scaled a 52-week high of $13.06 buoyed by a solid second-quarter
earnings beat. With about 0.01 million shares exchanging hands in
the last trading session, shares closed at $13.04, gaining 0.5%.
The year-to-date return from the stock came in at 30.01%, which was
ahead of NASDAQ's return of 8.38%.
In the second quarter, LNB Bancorp posted earnings of 21 cents per
share that surpassed the Zacks Consensus Estimate by about 10.5%
and improved nearly 16.7% year over year. Top line increased 3%
year over year on 2.5% higher net interest income and 6.5% increase
in non-interest income. Net interest margin expanded seven basis
points to 3.27%.
LNB Bancorp remains focused on improving its credit quality and a
reduction in non-performing assets bears testimony to it. The ratio
of non-performing assets to total assets was 1.69% at
second-quarter end, down from 2.28% at Jun 30, 2013. The
improvement was also reflected in lower provision for loan losses.
The ratio of non-performing assets to total assets at Jun 30, 2014
was 1.69%, down from 2.28% at Jun 30, 2013.
In addition, LNB Bancorp has capital levels above the regulatory
requirements. LNB Bancorp exited the second quarter with total
risk-based capital ratio of 12.41%, Tier 1 leverage ratio of 8.77%
and tangible common equity to tangible assets of 7.29%.
On the strength of solid quarterly performance, this Zacks Rank #2
(Buy) stock has been witnessing upward revisions in the Zacks
Consensus Estimate in the last 60 days. It increased by 2 cents and
is currently pggeed at 80 cents and translates to a year-over-year
increase of 31.2%.
Other Stocks to Consider
Investors interested in Midwest banks may also consider First
Business Financial Services, Inc. (
), First Financial Corp. (
) and Heartland Financial USA, Inc. (
). All these stocks hold the same Zacks Rank as LNB Bancorp.
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FIRST BUS FINL (FBIZ): Free Stock Analysis
LNB BANCORP INC (LNBB): Free Stock Analysis
HEARTLAND FINCL (HTLF): Free Stock Analysis
FIRST FINL-IND (THFF): Free Stock Analysis
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