Luther Burbank Corp (NASDAQ:LBC) – Equities researchers at DA Davidson increased their FY2018 EPS estimates for Luther Burbank in a research report issued on Monday, October 29th. DA Davidson analyst G. Tenner now forecasts that the company will earn $0.81 per share for the year, up from their previous forecast of $0.79.
A number of other research firms also recently issued reports on LBC. Piper Jaffray Companies reiterated a “hold” rating and set a $12.00 price target on shares of Luther Burbank in a research report on Wednesday, August 1st. Zacks Investment Research downgraded shares of Luther Burbank from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Sandler O’Neill reiterated a “hold” rating and set a $11.50 price target on shares of Luther Burbank in a research report on Monday, July 30th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Luther Burbank presently has an average rating of “Hold” and an average price target of $12.63.
LBC stock opened at $9.57 on Thursday. Luther Burbank has a 12-month low of $9.23 and a 12-month high of $13.60. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.27 and a quick ratio of 1.26. The company has a market cap of $558.14 million and a PE ratio of 6.74.
Luther Burbank (NASDAQ:LBC) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $32.76 million during the quarter, compared to the consensus estimate of $33.10 million.
Institutional investors and hedge funds have recently modified their holdings of the company. Brown Advisory Inc. purchased a new position in shares of Luther Burbank during the 2nd quarter worth approximately $119,000. Rhumbline Advisers purchased a new position in shares of Luther Burbank during the 2nd quarter worth approximately $147,000. The Manufacturers Life Insurance Company purchased a new position in shares of Luther Burbank during the 1st quarter worth approximately $159,000. American Century Companies Inc. purchased a new position in shares of Luther Burbank during the 2nd quarter worth approximately $203,000. Finally, JBF Capital Inc. purchased a new position in shares of Luther Burbank during the 2nd quarter worth approximately $205,000. 20.53% of the stock is owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, November 5th will be paid a dividend of $0.0575 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.40%. Luther Burbank’s dividend payout ratio (DPR) is 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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