Zacks Investment Research Downgrades Luther Burbank (LBC) to Hold

Zacks Investment Research downgraded shares of Luther Burbank (NASDAQ:LBC) from a buy rating to a hold rating in a research report released on Thursday morning.

According to Zacks, “Luther Burbank Corporation is a bank holding company which operates through its subsidiary, Luther Burbank Savings. It offers commercial banking products and services to real estate investors, entrepreneurs, high net worth individuals and commercial businesses. The Bank’s principal lending products are real estate secured loans, primarily on smaller, existing multifamily residential properties. Luther Burbank Corporation is headquartered in Santa Rosa, California. “

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Shares of Luther Burbank stock opened at $12.01 on Thursday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $679.36 and a PE ratio of 8.46. Luther Burbank has a 12 month low of $11.50 and a 12 month high of $13.60.

Luther Burbank (NASDAQ:LBC) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. The firm had revenue of $29.05 million for the quarter, compared to the consensus estimate of $28.70 million. research analysts forecast that Luther Burbank will post 0.78 EPS for the current year.

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Luther Burbank Company Profile

Luther Burbank Corp. operates as a bank holding company. The company operates through its subsidiary, Luther Burbank Savings. It accepts deposits from general public and invests those funds in real estate loans, including permanent mortgage and construction loan. Luther Burbank was founded on May 14, 1991 and is headquartered in Santa Rosa, CA.

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