Bowling Portfolio Management LLC cut its holdings in Luther Burbank Corp (NASDAQ:LBC) by 29.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 73,738 shares of the company’s stock after selling 31,098 shares during the period. Bowling Portfolio Management LLC owned 0.13% of Luther Burbank worth $850,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Rhumbline Advisers increased its holdings in shares of Luther Burbank by 9.3% during the 3rd quarter. Rhumbline Advisers now owns 30,175 shares of the company’s stock worth $342,000 after buying an additional 2,569 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Luther Burbank by 3.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 103,782 shares of the company’s stock worth $1,131,000 after buying an additional 3,863 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Luther Burbank by 11.3% during the 2nd quarter. Bank of America Corp DE now owns 57,891 shares of the company’s stock worth $630,000 after buying an additional 5,870 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Luther Burbank by 3.1% during the 2nd quarter. Northern Trust Corp now owns 224,325 shares of the company’s stock worth $2,443,000 after buying an additional 6,640 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY acquired a new stake in shares of Luther Burbank during the 3rd quarter worth $84,000. Institutional investors own 22.19% of the company’s stock.
LBC has been the subject of a number of research analyst reports. ValuEngine upgraded Luther Burbank from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 20th. Zacks Investment Research downgraded Luther Burbank from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 1st.
LBC stock opened at $11.50 on Friday. The company has a market cap of $658.97 million, a price-to-earnings ratio of 14.00 and a beta of 1.14. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.87. The business has a fifty day simple moving average of $11.51 and a 200-day simple moving average of $11.20. Luther Burbank Corp has a 52 week low of $9.21 and a 52 week high of $11.99.
Luther Burbank (NASDAQ:LBC) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $33.58 million during the quarter, compared to the consensus estimate of $31.50 million. Luther Burbank had a return on equity of 7.93% and a net margin of 17.57%. As a group, analysts expect that Luther Burbank Corp will post 0.89 earnings per share for the current fiscal year.
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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