Luther Burbank Corp (NASDAQ:LBC) – Stock analysts at Piper Jaffray Companies dropped their Q4 2018 earnings estimates for shares of Luther Burbank in a note issued to investors on Tuesday, October 30th. Piper Jaffray Companies analyst M. Clark now anticipates that the company will post earnings of $0.21 per share for the quarter, down from their prior forecast of $0.22. Piper Jaffray Companies currently has a “Hold” rating and a $12.00 price target on the stock. Piper Jaffray Companies also issued estimates for Luther Burbank’s Q1 2019 earnings at $0.21 EPS, Q2 2019 earnings at $0.20 EPS, Q3 2019 earnings at $0.21 EPS, Q4 2019 earnings at $0.23 EPS, FY2019 earnings at $0.85 EPS, Q1 2020 earnings at $0.24 EPS, Q2 2020 earnings at $0.25 EPS, Q3 2020 earnings at $0.26 EPS and FY2020 earnings at $1.04 EPS.
Several other research firms have also commented on LBC. Sandler O’Neill reaffirmed a “hold” rating and set a $11.50 price target on shares of Luther Burbank in a research report on Monday, July 30th. Zacks Investment Research lowered shares of Luther Burbank from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Luther Burbank currently has an average rating of “Hold” and a consensus target price of $12.63.
LBC stock opened at $9.70 on Wednesday. The company has a market cap of $558.14 million and a PE ratio of 11.22. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.26 and a current ratio of 1.27. Luther Burbank has a one year low of $9.23 and a one year high of $13.60.
Luther Burbank (NASDAQ:LBC) last released its earnings results on Thursday, October 25th. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Luther Burbank had a net margin of 25.84% and a return on equity of 7.73%. The business had revenue of $32.76 million for the quarter, compared to analyst estimates of $33.10 million.
Several hedge funds have recently added to or reduced their stakes in the company. JCSD Capital LLC purchased a new stake in shares of Luther Burbank during the 3rd quarter valued at approximately $556,000. Strs Ohio raised its position in Luther Burbank by 127.3% in the third quarter. Strs Ohio now owns 46,822 shares of the company’s stock valued at $509,000 after purchasing an additional 26,222 shares during the period. Bank of New York Mellon Corp raised its position in Luther Burbank by 38.2% in the second quarter. Bank of New York Mellon Corp now owns 53,623 shares of the company’s stock valued at $617,000 after purchasing an additional 14,815 shares during the period. Brown Advisory Inc. purchased a new stake in Luther Burbank in the second quarter valued at approximately $119,000. Finally, JBF Capital Inc. purchased a new stake in Luther Burbank in the second quarter valued at approximately $205,000. 20.53% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, November 5th will be given a dividend of $0.0575 per share. This represents a $0.23 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, November 2nd. Luther Burbank’s payout ratio is presently 16.20%.
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 individuals, entrepreneurs, professionals, and businesses in the United States. The company offers interest and noninterest-bearing transaction accounts, certificates of deposit, and money market accounts.
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