Luther Burbank Corp (NASDAQ:LBC) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 142,700 shares, a growth of 58.0% from the May 30th total of 90,300 shares. Based on an average trading volume of 77,900 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.8% of the shares of the company are sold short.
Several research firms recently weighed in on LBC. Sandler O’Neill raised Oritani Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $17.00 to $19.00 in a report on Thursday, June 27th. Zacks Investment Research cut Inflarx from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $11.83.
In other news, EVP Liana Prieto sold 20,000 shares of Luther Burbank stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $10.03, for a total transaction of $200,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 20.78% of the company’s stock.
NASDAQ LBC traded down $0.12 during midday trading on Thursday, hitting $11.02. The company had a trading volume of 40,053 shares, compared to its average volume of 74,874. The stock has a market cap of $634.70 million, a P/E ratio of 13.95, a PEG ratio of 1.91 and a beta of 1.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.15. The business has a 50-day moving average of $10.53. Luther Burbank has a twelve month low of $7.92 and a twelve month high of $12.47.
Luther Burbank (NASDAQ:LBC) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $33.47 million during the quarter, compared to analysts’ expectations of $32.55 million. Luther Burbank had a return on equity of 7.98% and a net margin of 18.64%. As a group, equities analysts predict that Luther Burbank will post 0.85 EPS for the current fiscal year.
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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