Insider Buying: Luther Burbank Corp (LBC) Director Buys 1,000 Shares of Stock

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Luther Burbank Corp (NASDAQ:LBC) Director Anita G. Newcomb purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was bought at an average price of $10.87 per share, with a total value of $10,870.00. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of NASDAQ LBC traded up $0.16 during trading hours on Tuesday, reaching $11.10. The stock had a trading volume of 3,453 shares, compared to its average volume of 112,762. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.26 and a current ratio of 1.27. The firm has a market capitalization of $619.21 million and a price-to-earnings ratio of 7.82. Luther Burbank Corp has a 52-week low of $10.49 and a 52-week high of $13.60.

Luther Burbank (NASDAQ:LBC) last announced its quarterly earnings results on Thursday, July 26th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. The firm had revenue of $31.98 million during the quarter, compared to analysts’ expectations of $32.60 million. analysts forecast that Luther Burbank Corp will post 0.81 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 6th were issued a $0.0575 dividend. This represents a $0.23 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, August 3rd. Luther Burbank’s dividend payout ratio is 16.20%.

A number of brokerages have recently commented on LBC. Zacks Investment Research cut Luther Burbank from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. ValuEngine lowered shares of Luther Burbank from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. DA Davidson lowered their target price on shares of Luther Burbank from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, May 1st. Sandler O’Neill reissued a “hold” rating and set a $11.50 target price on shares of Luther Burbank in a research note on Monday, July 30th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $12.00 target price on shares of Luther Burbank in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has an average rating of “Hold” and an average target price of $12.63.

Hedge funds have recently modified their holdings of the business. American International Group Inc. purchased a new stake in Luther Burbank during the first quarter worth $108,000. Brown Advisory Inc. purchased a new stake in Luther Burbank during the second quarter worth $119,000. Rhumbline Advisers purchased a new stake in Luther Burbank during the second quarter worth $147,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Luther Burbank during the 1st quarter worth $159,000. Finally, American Century Companies Inc. purchased a new stake in shares of Luther Burbank during the 2nd quarter worth $203,000. Institutional investors and hedge funds own 19.58% 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 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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