Luther Burbank (NASDAQ:LBC) Sees Strong Trading Volume

Shares of Luther Burbank Co. (NASDAQ:LBC) saw unusually-high trading volume on Friday . Approximately 2,814 shares were traded during trading, a decline of 94% from the previous session’s volume of 45,013 shares.The stock last traded at $12.04 and had previously closed at $11.95.

Separately, Zacks Investment Research upgraded Luther Burbank from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Friday, April 16th.

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $628.66 million, a PE ratio of 12.32 and a beta of 0.80. The business has a fifty day moving average of $11.74.

Luther Burbank (NASDAQ:LBC) last issued its quarterly earnings results on Monday, April 26th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Luther Burbank had a net margin of 21.58% and a return on equity of 9.51%. The company had revenue of $39.03 million for the quarter, compared to analyst estimates of $38.00 million. As a group, sell-side analysts anticipate that Luther Burbank Co. will post 1.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 17th. Shareholders of record on Friday, May 7th were given a $0.058 dividend. The ex-dividend date of this dividend was Thursday, May 6th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.93%. Luther Burbank’s dividend payout ratio (DPR) is presently 25.84%.

In other news, Director Jack W. Krouskup sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $11.44, for a total transaction of $57,200.00. Following the completion of the transaction, the director now directly owns 34,438 shares in the company, valued at $393,970.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.86% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Luther Burbank by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,172 shares of the company’s stock worth $5,255,000 after buying an additional 18,404 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of Luther Burbank in the 4th quarter worth about $98,000. Boston Partners lifted its stake in shares of Luther Burbank by 0.6% in the 1st quarter. Boston Partners now owns 240,921 shares of the company’s stock valued at $2,850,000 after purchasing an additional 1,503 shares during the period. Strs Ohio boosted its position in shares of Luther Burbank by 28.8% during the 1st quarter. Strs Ohio now owns 63,900 shares of the company’s stock valued at $755,000 after purchasing an additional 14,300 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Luther Burbank by 19.7% during the fourth quarter. Renaissance Technologies LLC now owns 292,068 shares of the company’s stock worth $2,862,000 after purchasing an additional 48,000 shares during the period. Institutional investors own 15.63% of the company’s stock.

Luther Burbank Company Profile (NASDAQ:LBC)

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, depositors, and commercial businesses. The company offers interest and noninterest-bearing transaction accounts, certificates of deposit, and money market accounts.

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