Luther Burbank (NASDAQ:LBC) Raised to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Luther Burbank (NASDAQ:LBCGet Rating) from a market perform rating to an outperform rating in a report issued on Sunday, The Fly reports.

Separately, Piper Sandler cut their price objective on shares of Luther Burbank to $15.00 in a report on Friday, September 30th.

Luther Burbank Stock Performance

LBC opened at $11.50 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.01. The firm has a market capitalization of $587.36 million, a PE ratio of 6.57 and a beta of 0.72. The firm has a 50 day moving average of $12.10 and a two-hundred day moving average of $12.76. Luther Burbank has a 12-month low of $11.28 and a 12-month high of $14.74.

Luther Burbank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Friday, November 4th were paid a $0.12 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $0.48 annualized dividend and a dividend yield of 4.17%. Luther Burbank’s dividend payout ratio is presently 27.43%.

Hedge Funds Weigh In On Luther Burbank

Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of Luther Burbank by 6.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 831,312 shares of the company’s stock valued at $9,660,000 after purchasing an additional 50,580 shares in the last quarter. State Street Corp increased its stake in shares of Luther Burbank by 10.5% in the 3rd quarter. State Street Corp now owns 350,702 shares of the company’s stock valued at $4,075,000 after purchasing an additional 33,465 shares in the last quarter. Foundry Partners LLC increased its stake in shares of Luther Burbank by 57.3% in the 3rd quarter. Foundry Partners LLC now owns 277,175 shares of the company’s stock valued at $3,221,000 after purchasing an additional 100,985 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Luther Burbank by 4.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 157,952 shares of the company’s stock valued at $1,836,000 after purchasing an additional 6,461 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Luther Burbank by 50.4% in the 1st quarter. LSV Asset Management now owns 122,512 shares of the company’s stock valued at $1,628,000 after purchasing an additional 41,028 shares in the last quarter. Hedge funds and other institutional investors own 14.93% of the company’s stock.

About Luther Burbank

(Get Rating)

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

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