ValuEngine Downgrades Luther Burbank (NASDAQ:LBC) to Sell

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ValuEngine lowered shares of Luther Burbank (NASDAQ:LBC) from a hold rating to a sell rating in a report released on Friday, ValuEngine reports.

LBC has been the subject of several other research reports. Zacks Investment Research downgraded shares of Luther Burbank from a hold rating to a sell rating in a research note on Friday, May 3rd. Sandler O’Neill upgraded shares of Luther Burbank from a hold rating to a buy rating in a research note on Thursday, June 27th.

NASDAQ LBC opened at $10.37 on Friday. Luther Burbank has a 1 year low of $7.92 and a 1 year high of $12.47. The firm has a market capitalization of $603.73 million, a P/E ratio of 13.13, a PEG ratio of 1.87 and a beta of 1.13. The company has a fifty day moving average of $10.89. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.15.

Luther Burbank (NASDAQ:LBC) last announced its earnings results on Monday, July 29th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. Luther Burbank had a net margin of 17.97% and a return on equity of 8.00%. The business had revenue of $32.06 million during the quarter, compared to the consensus estimate of $32.85 million. As a group, sell-side analysts anticipate that Luther Burbank will post 0.82 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.23 annualized dividend and a dividend yield of 2.24%. Luther Burbank’s dividend payout ratio (DPR) is 29.11%.

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its position in Luther Burbank by 288.6% in the first quarter. BNP Paribas Arbitrage SA now owns 4,333 shares of the company’s stock valued at $44,000 after purchasing an additional 3,218 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in Luther Burbank in the first quarter valued at about $85,000. ELCO Management Co. LLC acquired a new stake in Luther Burbank in the first quarter valued at about $108,000. Virginia Retirement Systems ET AL acquired a new stake in Luther Burbank in the second quarter valued at about $118,000. Finally, New York State Common Retirement Fund lifted its position in Luther Burbank by 33.6% in the fourth quarter. New York State Common Retirement Fund now owns 15,100 shares of the company’s stock valued at $136,000 after purchasing an additional 3,800 shares during the period. Institutional investors and hedge funds own 22.29% of the company’s stock.

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 real estate investors, professionals, entrepreneurs, high net worth individuals, and commercial businesses. The company offers interest and noninterest-bearing transaction accounts, certificates of deposit, and money market accounts.

See Also: What is the Ex-Dividend Date in Investing?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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