Luther Burbank Corp (NASDAQ:LBC) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Stockholders of record on Friday, August 7th will be paid a dividend of 0.058 per share on Monday, August 17th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, August 6th.
Luther Burbank has a payout ratio of 34.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Luther Burbank to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.23 annual dividend with an expected future payout ratio of 25.6%.
LBC stock traded down $0.16 during midday trading on Thursday, reaching $9.49. 1,415 shares of the company’s stock traded hands, compared to its average volume of 40,747. The firm has a market capitalization of $502.50 million, a PE ratio of 12.53 and a beta of 0.98. The company has a 50-day moving average price of $9.50 and a two-hundred day moving average price of $9.92. Luther Burbank has a 52 week low of $6.76 and a 52 week high of $11.99. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.20 and a current ratio of 1.20.
Luther Burbank (NASDAQ:LBC) last announced its earnings results on Tuesday, July 28th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Luther Burbank had a return on equity of 6.93% and a net margin of 15.93%. The business had revenue of $33.82 million for the quarter, compared to analyst estimates of $33.65 million. As a group, analysts predict that Luther Burbank will post 0.7 EPS for the current fiscal year.
In related news, Director John C. Erickson acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average price of $8.48 per share, with a total value of $50,880.00. Following the completion of the purchase, the director now owns 35,763 shares in the company, valued at approximately $303,270.24. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 21.12% of the company’s stock.
A number of equities analysts have recently issued reports on LBC shares. BidaskClub cut Luther Burbank from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. Zacks Investment Research downgraded shares of Luther Burbank from a “hold” rating to a “sell” rating in a research note on Wednesday, May 20th. Finally, Keefe, Bruyette & Woods raised shares of Luther Burbank from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Wednesday, April 1st. Three research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. Luther Burbank has an average rating of “Hold” and an average target price of $11.67.
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.
Featured Story: Operating Income
Receive News & Ratings for Luther Burbank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luther Burbank and related companies with MarketBeat.com's FREE daily email newsletter.