Victor Trione Purchases 10,000 Shares of Luther Burbank Corp (LBC) Stock

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

NASDAQ LBC traded up $0.17 on Thursday, hitting $10.05. 16,724 shares of the company’s stock were exchanged, compared to its average volume of 56,545. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.96. Luther Burbank Corp has a fifty-two week low of $9.23 and a fifty-two week high of $13.60. The stock has a market capitalization of $558.65 million and a price-to-earnings ratio of 7.11.

Luther Burbank (NASDAQ:LBC) last released its earnings results on Thursday, October 25th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Luther Burbank had a return on equity of 7.67% and a net margin of 25.84%. The company had revenue of $32.76 million for the quarter, compared to analysts’ expectations of $33.10 million. Equities analysts forecast that Luther Burbank Corp will post 0.81 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, November 5th were given a dividend of $0.0575 per share. This represents a $0.23 annualized dividend and a yield of 2.29%. The ex-dividend date was Friday, November 2nd. Luther Burbank’s payout ratio is 16.20%.

Separately, Zacks Investment Research downgraded Luther Burbank from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.63.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Luther Burbank by 36.9% in the 3rd quarter. BlackRock Inc. now owns 1,006,252 shares of the company’s stock worth $10,948,000 after acquiring an additional 271,028 shares during the period. Capital Research Global Investors grew its holdings in shares of Luther Burbank by 16.7% in the 3rd quarter. Capital Research Global Investors now owns 1,750,000 shares of the company’s stock worth $19,040,000 after acquiring an additional 250,000 shares during the period. Maltese Capital Management LLC grew its holdings in shares of Luther Burbank by 23.4% in the 2nd quarter. Maltese Capital Management LLC now owns 818,300 shares of the company’s stock worth $9,415,000 after acquiring an additional 155,000 shares during the period. Vanguard Group Inc. grew its holdings in shares of Luther Burbank by 36.3% in the 3rd quarter. Vanguard Group Inc. now owns 480,997 shares of the company’s stock worth $5,233,000 after acquiring an additional 128,048 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Luther Burbank in the 2nd quarter worth approximately $920,000. Institutional investors own 23.62% of the company’s stock.

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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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