Deutsche Bank AG lowered its holdings in Luther Burbank Corp (NASDAQ:LBC) by 25.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,299 shares of the company’s stock after selling 2,141 shares during the period. Deutsche Bank AG’s holdings in Luther Burbank were worth $58,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Alliancebernstein L.P. boosted its stake in Luther Burbank by 64.3% in the 1st quarter. Alliancebernstein L.P. now owns 23,000 shares of the company’s stock worth $211,000 after purchasing an additional 9,000 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Luther Burbank by 27.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,113 shares of the company’s stock worth $56,000 after purchasing an additional 1,318 shares during the period. Citigroup Inc. increased its holdings in shares of Luther Burbank by 200.4% during the 1st quarter. Citigroup Inc. now owns 14,105 shares of the company’s stock worth $129,000 after purchasing an additional 9,410 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Luther Burbank by 4.6% during the 1st quarter. Acadian Asset Management LLC now owns 125,127 shares of the company’s stock worth $1,148,000 after purchasing an additional 5,497 shares during the period. Finally, State Street Corp increased its holdings in shares of Luther Burbank by 7.9% during the 1st quarter. State Street Corp now owns 404,239 shares of the company’s stock worth $3,707,000 after purchasing an additional 29,503 shares during the period. Institutional investors own 18.70% of the company’s stock.
Luther Burbank stock opened at $9.34 on Tuesday. The firm has a 50 day moving average price of $9.77 and a two-hundred day moving average price of $10.07. The firm has a market cap of $488.21 million, a price-to-earnings ratio of 11.68 and a beta of 0.98. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.20 and a current ratio of 1.20. Luther Burbank Corp has a 52-week low of $6.76 and a 52-week high of $11.99.
Luther Burbank (NASDAQ:LBC) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.07). The business had revenue of $32.91 million for the quarter, compared to the consensus estimate of $34.35 million. Luther Burbank had a net margin of 16.44% and a return on equity of 7.34%. As a group, equities research analysts predict that Luther Burbank Corp will post 0.7 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on LBC shares. BidaskClub lowered shares of Luther Burbank from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. Zacks Investment Research cut shares of Luther Burbank from a “hold” rating to a “sell” rating in a report on Wednesday, May 20th. Keefe, Bruyette & Woods upgraded shares of Luther Burbank from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Wednesday, April 1st. Finally, DA Davidson raised shares of Luther Burbank from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $12.00 to $11.00 in a research report on Monday, March 16th. Three equities research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.67.
In related news, Director John C. Erickson purchased 6,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $8.48 per share, for a total transaction of $50,880.00. Following the completion of the transaction, the director now directly owns 35,763 shares in the company, valued at approximately $303,270.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 21.12% of the stock is owned by corporate insiders.
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.
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