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

NASDAQ:LBC opened at $9.80 on Friday. The company has a market cap of $567.69 million and a P/E ratio of 6.90. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.96. Luther Burbank Corp has a 1-year low of $9.23 and a 1-year high of $13.60.

Luther Burbank (NASDAQ:LBC) last announced its quarterly earnings data on Thursday, October 25th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $32.76 million during the quarter, compared to analysts’ expectations of $33.10 million. Luther Burbank had a return on equity of 7.67% and a net margin of 25.84%. As a group, equities research analysts forecast that Luther Burbank Corp will post 0.81 earnings per share for the current year.

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

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

A number of hedge funds and other institutional investors have recently made changes to their positions in LBC. BlackRock Inc. raised its holdings in Luther Burbank by 36.9% in the 3rd quarter. BlackRock Inc. now owns 1,006,252 shares of the company’s stock valued at $10,948,000 after acquiring an additional 271,028 shares in the last quarter. Capital Research Global Investors raised its holdings in Luther Burbank by 16.7% in the 3rd quarter. Capital Research Global Investors now owns 1,750,000 shares of the company’s stock valued at $19,040,000 after acquiring an additional 250,000 shares in the last quarter. Maltese Capital Management LLC raised its holdings in Luther Burbank by 23.4% in the 2nd quarter. Maltese Capital Management LLC now owns 818,300 shares of the company’s stock valued at $9,415,000 after acquiring an additional 155,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in Luther Burbank by 36.3% in the 3rd quarter. Vanguard Group Inc. now owns 480,997 shares of the company’s stock valued at $5,233,000 after acquiring an additional 128,048 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in Luther Burbank in the 2nd quarter valued at $920,000. 23.62% of the stock is owned by hedge funds and other institutional investors.

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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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