Luther Burbank Co. (NASDAQ:LBC) Sees Significant Decrease in Short Interest

Luther Burbank Co. (NASDAQ:LBCGet Rating) was the recipient of a significant decrease in short interest in December. As of December 30th, there was short interest totalling 269,500 shares, a decrease of 9.9% from the December 15th total of 299,100 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 45,300 shares, the days-to-cover ratio is presently 5.9 days.

Luther Burbank Stock Up 0.8 %

Shares of Luther Burbank stock opened at $11.27 on Monday. 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 business’s 50 day simple moving average is $11.44 and its 200-day simple moving average is $12.19. The stock has a market capitalization of $575.62 million, a price-to-earnings ratio of 6.44 and a beta of 0.71. Luther Burbank has a twelve month low of $10.69 and a twelve month high of $14.20.

Luther Burbank (NASDAQ:LBCGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Luther Burbank had a return on equity of 13.39% and a net margin of 37.18%. The company had revenue of $45.74 million during the quarter, compared to the consensus estimate of $44.40 million. Equities research analysts forecast that Luther Burbank will post 1.66 earnings per share for the current year.

Luther Burbank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, November 4th were issued a $0.12 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.26%. Luther Burbank’s payout ratio is currently 27.43%.

Wall Street Analyst Weigh In

LBC has been the topic of several research reports. Piper Sandler cut their price objective on Luther Burbank to $15.00 in a research note on Friday, September 30th. Keefe, Bruyette & Woods upgraded Luther Burbank from a “market perform” rating to an “outperform” rating in a research note on Sunday, November 20th.

Institutional Trading of Luther Burbank

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Luther Burbank by 6.5% in the third 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 lifted its holdings in shares of Luther Burbank by 10.5% in the third 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 raised its holdings in shares of Luther Burbank by 57.3% during the third quarter. Foundry Partners LLC now owns 277,175 shares of the company’s stock worth $3,221,000 after acquiring an additional 100,985 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Luther Burbank by 4.3% during the third quarter. Bank of New York Mellon Corp now owns 157,952 shares of the company’s stock worth $1,836,000 after acquiring an additional 6,461 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Luther Burbank by 50.4% during the first quarter. LSV Asset Management now owns 122,512 shares of the company’s stock worth $1,628,000 after acquiring an additional 41,028 shares in the last quarter. Hedge funds and other institutional investors own 13.81% of the company’s stock.

Luther Burbank Company Profile

(Get Rating)

Luther Burbank Corp. operates as a bank holding company. The firm operates through its subsidiary, Luther Burbank Savings that provides various banking products and services for real estate investors, professionals, entrepreneurs, high net worth individuals, depositors, and commercial businesses. It accepts deposits from general public and invests those funds in real estate loans, including permanent mortgage and construction loan.

Further Reading

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.