Luther Burbank Corp (NASDAQ:LBC) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 142,700 shares, an increase of 58.0% from the May 30th total of 90,300 shares. Based on an average trading volume of 77,900 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.8% of the shares of the stock are short sold.
LBC traded down $0.12 during trading on Thursday, reaching $11.02. The company had a trading volume of 40,053 shares, compared to its average volume of 74,874. The company has a 50-day moving average of $10.53. The firm has a market capitalization of $634.70 million, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13. Luther Burbank has a 12-month low of $7.92 and a 12-month high of $12.47. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.15.
Luther Burbank (NASDAQ:LBC) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $33.47 million for the quarter, compared to analysts’ expectations of $32.55 million. Luther Burbank had a return on equity of 7.98% and a net margin of 18.64%. Analysts anticipate that Luther Burbank will post 0.85 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Inflarx from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Sandler O’Neill raised Oritani Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $17.00 to $19.00 in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Luther Burbank currently has an average rating of “Hold” and a consensus price target of $11.83.
In other Luther Burbank news, EVP Liana Prieto sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $10.03, for a total value of $200,600.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 20.78% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in LBC. BlackRock Inc. grew its stake in Luther Burbank by 17.9% during the 4th quarter. BlackRock Inc. now owns 1,186,799 shares of the company’s stock valued at $10,705,000 after acquiring an additional 180,547 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Luther Burbank by 226.3% during the 4th quarter. Bank of New York Mellon Corp now owns 211,371 shares of the company’s stock valued at $1,907,000 after acquiring an additional 146,590 shares in the last quarter. Kennedy Capital Management Inc. purchased a new position in Luther Burbank during the 1st quarter valued at about $1,313,000. Clover Partners L.P. purchased a new position in Luther Burbank during the 1st quarter valued at about $1,302,000. Finally, Acadian Asset Management LLC grew its stake in Luther Burbank by 1,967.6% during the 1st quarter. Acadian Asset Management LLC now owns 51,690 shares of the company’s stock valued at $522,000 after acquiring an additional 49,190 shares in the last quarter. 22.28% of the stock is currently owned by institutional investors.
About Luther Burbank
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.
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