Victor Trione Purchases 10,000 Shares of Luther Burbank Corp (LBC) Stock

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Luther Burbank Corp (NASDAQ:LBC) major shareholder Victor Trione purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were acquired at an average cost of $9.45 per share, for a total transaction of $94,500.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

NASDAQ:LBC opened at $9.80 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.96. The stock has a market cap of $567.69 million and a P/E ratio of 6.90. Luther Burbank Corp has a 52-week low of $9.23 and a 52-week high of $13.60.

Luther Burbank (NASDAQ:LBC) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The business 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%. On average, research analysts predict that Luther Burbank Corp will post 0.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 5th were issued a dividend of $0.0575 per share. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.35%. Luther Burbank’s payout ratio is presently 16.20%.

Separately, Zacks Investment Research lowered Luther Burbank from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.63.

Several large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. grew its holdings in shares of Luther Burbank by 17.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 66,982 shares of the company’s stock worth $771,000 after buying an additional 9,893 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Luther Burbank by 1.8% during the second quarter. Jennison Associates LLC now owns 556,068 shares of the company’s stock worth $6,398,000 after buying an additional 9,922 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Luther Burbank by 72.5% during the third quarter. Wells Fargo & Company MN now owns 23,968 shares of the company’s stock worth $260,000 after buying an additional 10,077 shares in the last quarter. Brown Advisory Inc. bought a new position in shares of Luther Burbank during the second quarter worth about $119,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Luther Burbank by 20.8% during the third quarter. Bank of New York Mellon Corp now owns 64,781 shares of the company’s stock worth $705,000 after buying an additional 11,158 shares in the last quarter. Institutional investors and hedge funds own 23.62% of the company’s stock.

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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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