Luther Burbank (NASDAQ:LBC) Downgraded by ValuEngine

Luther Burbank (NASDAQ:LBC) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Monday, ValuEngine reports.

Separately, Sandler O’Neill raised shares of Luther Burbank from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th.

Shares of NASDAQ LBC traded up $0.15 during midday trading on Monday, reaching $11.11. 22,200 shares of the company’s stock traded hands, compared to its average volume of 59,927. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 2.05. The stock’s 50 day simple moving average is $11.03 and its 200-day simple moving average is $10.71. Luther Burbank has a one year low of $7.92 and a one year high of $11.64. The company has a market cap of $618.74 million, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.92 and a beta of 1.17.

Luther Burbank (NASDAQ:LBC) last released its quarterly earnings data on Monday, July 29th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. Luther Burbank had a net margin of 17.97% and a return on equity of 7.94%. The firm had revenue of $32.06 million for the quarter, compared to the consensus estimate of $32.85 million. Equities analysts predict that Luther Burbank will post 0.82 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Luther Burbank by 2.0% in the second quarter. Vanguard Group Inc. now owns 640,989 shares of the company’s stock worth $6,980,000 after buying an additional 12,382 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Luther Burbank by 5,518.5% in the second quarter. JPMorgan Chase & Co. now owns 286,823 shares of the company’s stock worth $3,085,000 after acquiring an additional 281,718 shares during the period. Mendon Capital Advisors Corp increased its stake in shares of Luther Burbank by 62.4% in the second quarter. Mendon Capital Advisors Corp now owns 279,077 shares of the company’s stock worth $3,039,000 after acquiring an additional 107,278 shares during the period. Northern Trust Corp increased its stake in shares of Luther Burbank by 3.1% in the second quarter. Northern Trust Corp now owns 224,325 shares of the company’s stock worth $2,443,000 after acquiring an additional 6,640 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Luther Burbank by 590.8% in the second quarter. Renaissance Technologies LLC now owns 179,600 shares of the company’s stock worth $1,956,000 after acquiring an additional 153,600 shares during the period. 21.83% of the stock is owned by institutional investors and hedge funds.

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 real estate investors, professionals, entrepreneurs, high net worth individuals, and commercial businesses. The company offers interest and noninterest-bearing transaction accounts, certificates of deposit, and money market accounts.

Featured Story: How is Preferred Stock Different from Common Stock?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Luther Burbank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luther Burbank and related companies with MarketBeat.com's FREE daily email newsletter.