Luther Burbank Corp (NASDAQ:LBC) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 120,000 shares, a growth of 8.2% from the January 15th total of 110,900 shares. Based on an average daily trading volume, of 27,900 shares, the short-interest ratio is presently 4.3 days. Currently, 0.3% of the shares of the stock are short sold.
A number of equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Luther Burbank from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 20th. Zacks Investment Research cut shares of Luther Burbank from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 1st.
Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in shares of Luther Burbank by 212.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,873 shares of the company’s stock valued at $33,000 after acquiring an additional 1,954 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Luther Burbank during the fourth quarter valued at about $48,000. Citigroup Inc. increased its position in shares of Luther Burbank by 64.8% during the fourth quarter. Citigroup Inc. now owns 4,695 shares of the company’s stock valued at $54,000 after acquiring an additional 1,846 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in shares of Luther Burbank during the third quarter valued at about $84,000. Finally, Virginia Retirement Systems ET AL increased its position in shares of Luther Burbank by 11.8% during the fourth quarter. Virginia Retirement Systems ET AL now owns 12,300 shares of the company’s stock valued at $142,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 22.17% of the company’s stock.
Luther Burbank stock traded down $0.12 during midday trading on Friday, hitting $10.86. 47,079 shares of the stock were exchanged, compared to its average volume of 27,435. Luther Burbank has a fifty-two week low of $9.63 and a fifty-two week high of $11.99. The stock has a market capitalization of $616.94 million, a price-to-earnings ratio of 12.48 and a beta of 1.16. The stock’s 50-day simple moving average is $11.35 and its 200 day simple moving average is $11.21. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.87.
Luther Burbank (NASDAQ:LBC) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.02). Luther Burbank had a return on equity of 8.18% and a net margin of 17.98%. The firm had revenue of $33.98 million for the quarter, compared to analyst estimates of $34.90 million. Equities analysts anticipate that Luther Burbank will post 0.97 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be given a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, February 6th. Luther Burbank’s payout ratio is currently 26.44%.
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.
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