Patriot Financial Partners GP LP Invests $159,000 in Luther Burbank Corp (NASDAQ:LBC)

Patriot Financial Partners GP LP purchased a new position in shares of Luther Burbank Corp (NASDAQ:LBC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,049 shares of the company’s stock, valued at approximately $159,000. Luther Burbank makes up about 0.1% of Patriot Financial Partners GP LP’s investment portfolio, making the stock its 16th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LBC. Vanguard Group Inc. lifted its position in Luther Burbank by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 640,989 shares of the company’s stock valued at $6,980,000 after acquiring an additional 12,382 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Luther Burbank by 5,518.5% in the 2nd 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. Mendon Capital Advisors Corp lifted its position in Luther Burbank by 62.4% in the 2nd quarter. Mendon Capital Advisors Corp now owns 279,077 shares of the company’s stock valued at $3,039,000 after acquiring an additional 107,278 shares in the last quarter. Northern Trust Corp lifted its position in Luther Burbank by 3.1% in the 2nd quarter. Northern Trust Corp now owns 224,325 shares of the company’s stock valued at $2,443,000 after acquiring an additional 6,640 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Luther Burbank by 590.8% in the 2nd quarter. Renaissance Technologies LLC now owns 179,600 shares of the company’s stock valued at $1,956,000 after acquiring an additional 153,600 shares in the last quarter. 21.83% of the stock is currently owned by institutional investors.

Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Luther Burbank from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Thursday, October 24th. ValuEngine cut shares of Luther Burbank from a “sell” rating to a “strong sell” rating in a research report on Monday, October 21st.

LBC stock traded down $0.06 during midday trading on Friday, hitting $11.77. The company’s stock had a trading volume of 26,800 shares, compared to its average volume of 57,349. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market capitalization of $661.97 million, a P/E ratio of 14.90 and a beta of 1.17. Luther Burbank Corp has a twelve month low of $7.92 and a twelve month high of $11.99. The company’s fifty day moving average price is $11.26 and its 200 day moving average price is $10.79.

Luther Burbank (NASDAQ:LBC) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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 7.98%. The firm had revenue of $33.58 million during the quarter, compared to the consensus estimate of $31.50 million. Equities analysts expect that Luther Burbank Corp will post 0.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, November 1st. Luther Burbank’s dividend payout ratio (DPR) is presently 29.11%.

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.

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Institutional Ownership by Quarter for Luther Burbank (NASDAQ:LBC)

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