Luther Burbank Corp (NASDAQ:LBC) has been assigned a consensus broker rating score of 3.00 (Hold) from the four analysts that provide coverage for the company, Zacks Investment Research reports. Four research analysts have rated the stock with a hold rating.
Brokers have set a 1 year consensus target price of $12.00 for the company and are expecting that the company will post $0.20 EPS for the current quarter, according to Zacks. Zacks has also assigned Luther Burbank an industry rank of 203 out of 255 based on the ratings given to its competitors.
Several research firms have issued reports on LBC. Zacks Investment Research downgraded Luther Burbank from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Piper Jaffray Companies restated a “hold” rating and set a $12.00 target price on shares of Luther Burbank in a research report on Wednesday, August 1st. Sandler O’Neill restated a “hold” rating and set a $11.50 target price on shares of Luther Burbank in a research report on Monday, July 30th. Finally, ValuEngine downgraded Luther Burbank from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd.
Hedge funds have recently modified their holdings of the stock. American International Group Inc. purchased a new stake in shares of Luther Burbank in the first quarter worth $108,000. Brown Advisory Inc. purchased a new stake in shares of Luther Burbank in the second quarter worth $119,000. Rhumbline Advisers purchased a new stake in shares of Luther Burbank in the second quarter worth $147,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Luther Burbank in the first quarter worth $159,000. Finally, American Century Companies Inc. purchased a new stake in shares of Luther Burbank in the second quarter worth $203,000. Institutional investors own 20.76% of the company’s stock.
NASDAQ:LBC opened at $11.36 on Friday. The firm has a market cap of $691.02 million and a price-to-earnings ratio of 8.00. Luther Burbank has a 1 year low of $10.49 and a 1 year high of $13.60. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 2.32.
Luther Burbank (NASDAQ:LBC) last posted its earnings results on Thursday, July 26th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $31.98 million for the quarter, compared to analysts’ expectations of $32.60 million. analysts predict that Luther Burbank will post 0.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 6th were given a dividend of $0.0575 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $0.23 annualized dividend and a dividend yield of 2.02%. Luther Burbank’s dividend payout ratio is currently 16.20%.
Luther Burbank Company Profile
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.
Further Reading: Price to Earnings Ratio (PE) Basics
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