Patriot Financial Partners GP LP acquired a new position in shares of Luther Burbank Corp (NASDAQ:LBC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,049 shares of the company’s stock, valued at approximately $159,000. Luther Burbank comprises about 0.1% of Patriot Financial Partners GP LP’s holdings, making the stock its 16th biggest holding.
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Several other institutional investors and hedge funds have also made changes to their positions in the company. First Trust Advisors LP raised its holdings in Luther Burbank by 66.3% in the third quarter. First Trust Advisors LP now owns 67,037 shares of the company’s stock worth $760,000 after purchasing an additional 26,721 shares during the period. Mackay Shields LLC lifted its holdings in shares of Luther Burbank by 5.7% during the 3rd quarter. Mackay Shields LLC now owns 142,236 shares of the company’s stock valued at $1,612,000 after purchasing an additional 7,700 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Luther Burbank during the 3rd quarter valued at about $215,000. Rhumbline Advisers grew its position in shares of Luther Burbank by 9.3% in the 3rd quarter. Rhumbline Advisers now owns 30,175 shares of the company’s stock valued at $342,000 after purchasing an additional 2,569 shares during the period. Finally, Bowling Portfolio Management LLC bought a new stake in Luther Burbank during the 3rd quarter worth approximately $1,188,000. 22.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:LBC opened at $11.37 on Tuesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $647.76 million, a P/E ratio of 14.39 and a beta of 1.15. Luther Burbank Corp has a 52-week low of $7.92 and a 52-week high of $11.99. The company has a 50-day simple moving average of $11.50 and a 200 day simple moving average of $10.92.
Luther Burbank (NASDAQ:LBC) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Luther Burbank had a net margin of 17.57% and a return on equity of 7.93%. The firm had revenue of $33.58 million during the quarter, compared to analysts’ expectations of $31.50 million. As a group, equities analysts forecast that Luther Burbank Corp will post 0.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, November 1st. Luther Burbank’s dividend payout ratio (DPR) is currently 29.11%.
LBC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Luther Burbank from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Thursday, October 24th. ValuEngine upgraded Luther Burbank from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 20th.
Luther Burbank 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.