Luther Burbank Corp Announces Quarterly Dividend of $0.06 (NASDAQ:LBC)

Luther Burbank Corp (NASDAQ:LBC) announced 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 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, August 6th.

Luther Burbank has a payout ratio of 34.3% meaning 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%.

Luther Burbank stock traded down $0.16 during trading hours on Thursday, hitting $9.49. 1,415 shares of the stock were exchanged, compared to its average volume of 40,747. Luther Burbank has a 12 month low of $6.76 and a 12 month high of $11.99. The business’s 50-day moving average is $9.50 and its two-hundred day moving average is $9.92. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $502.50 million, a P/E ratio of 12.53 and a beta of 0.98.

Luther Burbank (NASDAQ:LBC) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate 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. On average, equities analysts predict that Luther Burbank will post 0.7 earnings per share for the current fiscal year.

In related news, Director John C. Erickson bought 6,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were 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 of the company’s stock, valued at approximately $303,270.24. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 21.12% of the company’s stock.

A number of brokerages have commented on LBC. Keefe, Bruyette & Woods raised shares of Luther Burbank from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Wednesday, April 1st. BidaskClub cut shares of Luther Burbank from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, Zacks Investment Research cut shares of Luther Burbank from a “hold” rating to a “sell” rating in a research report on Wednesday, May 20th. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $11.67.

Luther Burbank Company 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.

Further Reading: FinTech

Dividend History for Luther Burbank (NASDAQ:LBC)

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