Luther Burbank (LBC) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Luther Burbank (NASDAQ:LBC) from a hold rating to a sell rating in a report issued on Monday, February 4th.

Separately, Zacks Investment Research downgraded Luther Burbank from a hold rating to a strong sell rating in a research report on Friday, February 1st. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has an average rating of Hold and an average target price of $12.50.

LBC stock opened at $10.47 on Monday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $602.18 million, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.90 and a beta of 1.07. Luther Burbank has a 1-year low of $7.92 and a 1-year high of $13.34.

Luther Burbank (NASDAQ:LBC) last issued its quarterly earnings results on Monday, January 28th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $33.00 million during the quarter, compared to the consensus estimate of $32.65 million. Luther Burbank had a net margin of 19.58% and a return on equity of 8.01%. Analysts predict that Luther Burbank will post 0.8 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 19th. Investors of record on Friday, February 8th were paid a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, February 7th. Luther Burbank’s dividend payout ratio (DPR) is currently 29.11%.

In other Luther Burbank news, CEO Simone Lagomarsino bought 10,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was purchased at an average cost of $10.46 per share, for a total transaction of $104,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Victor Trione bought 15,000 shares of the business’s stock in a transaction on Thursday, December 6th. The shares were acquired at an average price of $10.01 per share, with a total value of $150,150.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 37,600 shares of company stock valued at $373,534. 20.40% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in LBC. New York State Common Retirement Fund increased its holdings in Luther Burbank by 33.6% in the fourth quarter. New York State Common Retirement Fund now owns 15,100 shares of the company’s stock valued at $136,000 after purchasing an additional 3,800 shares during the period. Alpine Woods Capital Investors LLC acquired a new stake in Luther Burbank in the third quarter valued at $174,000. O Shaughnessy Asset Management LLC acquired a new stake in Luther Burbank in the third quarter valued at $236,000. Wells Fargo & Company MN increased its holdings in Luther Burbank by 72.5% in the third quarter. Wells Fargo & Company MN now owns 23,968 shares of the company’s stock valued at $260,000 after purchasing an additional 10,077 shares during the period. Finally, M3F Inc. acquired a new stake in Luther Burbank in the fourth quarter valued at $226,000. Institutional investors own 24.34% 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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