Shares of Luther Burbank Corp (NASDAQ:LBC) have earned an average broker rating score of 3.00 (Hold) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a hold rating.
Brokerages have set a twelve-month consensus price objective of $11.00 for the company and are forecasting that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also assigned Luther Burbank an industry rank of 184 out of 257 based on the ratings given to its competitors.
A number of research firms have commented on LBC. Sandler O’Neill restated a “hold” rating and set a $11.50 price target on shares of Luther Burbank in a research report on Monday, July 30th. Piper Jaffray Companies restated a “hold” rating and set a $12.00 price target on shares of Luther Burbank in a research report on Wednesday, August 1st. Finally, Zacks Investment Research downgraded shares of Luther Burbank from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd.
Shares of NASDAQ:LBC opened at $9.89 on Wednesday. The stock has a market capitalization of $546.83 million and a P/E ratio of 6.96. Luther Burbank has a fifty-two week low of $9.23 and a fifty-two week high of $13.60. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.26 and a current ratio of 1.27.
Luther Burbank (NASDAQ:LBC) last issued its quarterly earnings data on Thursday, October 25th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $32.76 million for the quarter, compared to the consensus estimate of $33.10 million. Luther Burbank had a net margin of 25.84% and a return on equity of 7.73%. On average, research analysts expect that Luther Burbank will post 0.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 5th will be given a dividend of $0.0575 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.33%. Luther Burbank’s dividend payout ratio (DPR) is 16.20%.
Hedge funds have recently added to or reduced their stakes in the business. Brown Advisory Inc. bought a new stake in shares of Luther Burbank during the 2nd quarter worth about $119,000. Rhumbline Advisers acquired a new position in shares of Luther Burbank in the 2nd quarter worth approximately $147,000. The Manufacturers Life Insurance Company acquired a new position in shares of Luther Burbank in the 1st quarter worth approximately $159,000. Alpine Woods Capital Investors LLC acquired a new position in shares of Luther Burbank in the 3rd quarter worth approximately $174,000. Finally, American Century Companies Inc. acquired a new position in shares of Luther Burbank in the 2nd quarter worth approximately $203,000. Institutional investors own 20.68% of the company’s stock.
About Luther Burbank
Luther Burbank Corporation operates as the bank holding company for Luther Burbank Savings that provides various banking products and services for individuals, entrepreneurs, professionals, and businesses in the United States. The company offers interest and noninterest-bearing transaction accounts, certificates of deposit, and money market accounts.
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