American Century Companies Inc. boosted its stake in shares of Luther Burbank Corp (NASDAQ:LBC) by 111.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,449 shares of the company’s stock after acquiring an additional 21,861 shares during the quarter. American Century Companies Inc.’s holdings in Luther Burbank were worth $374,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its stake in Luther Burbank by 33.6% during the fourth quarter. New York State Common Retirement Fund now owns 15,100 shares of the company’s stock worth $136,000 after acquiring an additional 3,800 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Luther Burbank by 72.5% during the third quarter. Wells Fargo & Company MN now owns 23,968 shares of the company’s stock worth $260,000 after purchasing an additional 10,077 shares during the last quarter. M3F Inc. bought a new stake in shares of Luther Burbank during the fourth quarter worth $226,000. Citadel Advisors LLC bought a new stake in shares of Luther Burbank during the third quarter worth $273,000. Finally, Rhumbline Advisers grew its holdings in shares of Luther Burbank by 57.6% during the fourth quarter. Rhumbline Advisers now owns 26,842 shares of the company’s stock worth $242,000 after purchasing an additional 9,812 shares during the last quarter. Hedge funds and other institutional investors own 22.73% of the company’s stock.
Several analysts have recently commented on LBC shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $12.00 target price on shares of Luther Burbank in a report on Sunday, February 24th. ValuEngine cut Luther Burbank from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Finally, Zacks Investment Research cut Luther Burbank from a “hold” rating to a “sell” rating in a report on Tuesday, January 1st. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Luther Burbank presently has a consensus rating of “Hold” and an average price target of $12.50.
Luther Burbank stock opened at $10.64 on Friday. The stock has a market capitalization of $609.07 million, a P/E ratio of 13.47, a PEG ratio of 1.89 and a beta of 1.14. Luther Burbank Corp has a 12-month low of $7.92 and a 12-month high of $13.16. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.24.
Luther Burbank (NASDAQ:LBC) last posted its quarterly earnings results on Monday, January 28th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $33.00 million during the quarter, compared to the consensus estimate of $32.65 million. Luther Burbank had a net margin of 19.58% and a return on equity of 7.95%. As a group, equities analysts predict that Luther Burbank Corp will post 0.8 earnings per share for the current fiscal year.
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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 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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