Shares of Luther Burbank Corp (NASDAQ:LBC) have been given an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation.
Brokerages have set a twelve-month consensus target price of $11.00 for the company and are expecting that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also given Luther Burbank an industry rank of 198 out of 256 based on the ratings given to its competitors.
Separately, Zacks Investment Research downgraded Luther Burbank from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st.
Hedge funds have recently added to or reduced their stakes in the business. Brown Advisory Inc. bought a new position in shares of Luther Burbank during the 2nd quarter worth approximately $119,000. Rhumbline Advisers bought a new position in shares of Luther Burbank during the 2nd quarter worth approximately $147,000. Alpine Woods Capital Investors LLC bought a new position in shares of Luther Burbank during the 3rd quarter worth approximately $174,000. American Century Companies Inc. bought a new position in shares of Luther Burbank during the 2nd quarter worth approximately $203,000. Finally, Strs Ohio lifted its position in shares of Luther Burbank by 415.0% during the 2nd quarter. Strs Ohio now owns 20,600 shares of the company’s stock worth $237,000 after buying an additional 16,600 shares in the last quarter. Institutional investors and hedge funds own 23.62% of the company’s stock.
Shares of LBC traded up $0.08 during trading hours on Tuesday, hitting $9.68. The stock had a trading volume of 65,162 shares, compared to its average volume of 64,832. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market cap of $537.73 million and a PE ratio of 6.80. Luther Burbank has a 1-year low of $7.92 and a 1-year high of $13.60.
Luther Burbank (NASDAQ:LBC) last issued its earnings results on Thursday, October 25th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The company had revenue of $32.76 million during the quarter, compared to the consensus estimate of $33.10 million. Luther Burbank had a return on equity of 7.67% and a net margin of 25.84%. Analysts expect that Luther Burbank will post 0.81 EPS for the current fiscal year.
About Luther Burbank
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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