Luther Burbank Corp (NASDAQ:LBC) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 189,500 shares, a growth of 28.2% from the August 30th total of 147,800 shares. Based on an average daily volume of 34,800 shares, the short-interest ratio is currently 5.4 days. Currently, 0.4% of the company’s stock are sold short.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Kennedy Capital Management Inc. bought a new position in shares of Luther Burbank in the first quarter valued at approximately $1,313,000. Virginia Retirement Systems ET AL bought a new position in shares of Luther Burbank in the second quarter valued at approximately $118,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Luther Burbank in the second quarter valued at approximately $391,000. Swiss National Bank grew its holdings in shares of Luther Burbank by 25.3% in the second quarter. Swiss National Bank now owns 36,700 shares of the company’s stock valued at $400,000 after acquiring an additional 7,400 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Luther Burbank by 5,518.5% in the second quarter. JPMorgan Chase & Co. now owns 286,823 shares of the company’s stock valued at $3,085,000 after acquiring an additional 281,718 shares in the last quarter. 21.65% of the stock is owned by hedge funds and other institutional investors.
LBC traded up $0.27 during midday trading on Friday, reaching $11.06. 20,274 shares of the company were exchanged, compared to its average volume of 30,837. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.21 and a current ratio of 1.21. The company’s fifty day moving average price is $10.94 and its 200 day moving average price is $10.66. The company has a market cap of $607.51 million, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. Luther Burbank has a one year low of $7.92 and a one year high of $11.64.
Luther Burbank (NASDAQ:LBC) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $32.06 million during the quarter, compared to analyst estimates of $32.85 million. Luther Burbank had a return on equity of 7.94% and a net margin of 17.97%. As a group, sell-side analysts anticipate that Luther Burbank will post 0.82 earnings per share for the current fiscal year.
A number of analysts have commented on the company. Sandler O’Neill raised Luther Burbank from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. ValuEngine lowered Luther Burbank from a “hold” rating to a “sell” rating in a report on Friday, August 2nd.
About Luther Burbank
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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