Luther Burbank Corp (NASDAQ:LBC) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 120,000 shares, a growth of 8.2% from the January 15th total of 110,900 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average trading volume of 27,900 shares, the days-to-cover ratio is presently 4.3 days.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in shares of Luther Burbank by 24.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 91,664 shares of the company’s stock worth $1,057,000 after acquiring an additional 18,241 shares during the period. UBS Group AG increased its stake in shares of Luther Burbank by 71.7% in the fourth quarter. UBS Group AG now owns 26,462 shares of the company’s stock worth $305,000 after acquiring an additional 11,051 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Luther Burbank by 3.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,011,021 shares of the company’s stock worth $11,657,000 after acquiring an additional 31,040 shares during the period. Renaissance Technologies LLC increased its stake in shares of Luther Burbank by 33.5% in the fourth quarter. Renaissance Technologies LLC now owns 262,868 shares of the company’s stock worth $3,031,000 after acquiring an additional 66,002 shares during the period. Finally, Credit Suisse AG increased its stake in shares of Luther Burbank by 12.9% in the fourth quarter. Credit Suisse AG now owns 12,460 shares of the company’s stock worth $143,000 after acquiring an additional 1,424 shares during the period. Institutional investors own 22.17% of the company’s stock.
LBC has been the topic of several analyst reports. ValuEngine upgraded shares of Luther Burbank from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 20th. Zacks Investment Research downgraded shares of Luther Burbank from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 1st.
Shares of LBC stock traded down $0.12 on Friday, hitting $10.86. 47,079 shares of the stock traded hands, compared to its average volume of 27,435. The firm has a market cap of $616.94 million, a price-to-earnings ratio of 12.48 and a beta of 1.16. Luther Burbank has a 52 week low of $9.63 and a 52 week high of $11.99. The firm has a 50 day simple moving average of $11.35 and a two-hundred day simple moving average of $11.21. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.20 and a quick ratio of 1.20.
Luther Burbank (NASDAQ:LBC) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The company had revenue of $33.98 million during the quarter, compared to the consensus estimate of $34.90 million. Luther Burbank had a net margin of 17.98% and a return on equity of 8.18%. Sell-side analysts forecast that Luther Burbank will post 0.97 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be issued a $0.058 dividend. The ex-dividend date is Thursday, February 6th. This represents a $0.23 dividend on an annualized basis and a yield of 2.14%. Luther Burbank’s dividend payout ratio is currently 26.44%.
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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