Boston Partners grew its holdings in shares of Luther Burbank Corp (NASDAQ:LBC) by 3.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 376,270 shares of the company’s stock after acquiring an additional 12,782 shares during the period. Boston Partners’ holdings in Luther Burbank were worth $3,800,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LBC. BlackRock Inc. boosted its stake in shares of Luther Burbank by 36.9% during the 3rd quarter. BlackRock Inc. now owns 1,006,252 shares of the company’s stock valued at $10,948,000 after buying an additional 271,028 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Luther Burbank by 226.3% during the 4th quarter. Bank of New York Mellon Corp now owns 211,371 shares of the company’s stock valued at $1,907,000 after buying an additional 146,590 shares during the last quarter. Clover Partners L.P. purchased a new position in shares of Luther Burbank during the 1st quarter valued at approximately $1,302,000. Vanguard Group Inc boosted its stake in shares of Luther Burbank by 36.3% during the 3rd quarter. Vanguard Group Inc now owns 480,997 shares of the company’s stock valued at $5,233,000 after buying an additional 128,048 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Luther Burbank by 36.3% during the 3rd quarter. Vanguard Group Inc. now owns 480,997 shares of the company’s stock valued at $5,233,000 after buying an additional 128,048 shares during the last quarter. Institutional investors own 22.97% of the company’s stock.

Luther Burbank stock opened at $10.20 on Thursday. The company has a market cap of $574.44 million, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.74 and a beta of 1.15. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.23 and a quick ratio of 1.24. Luther Burbank Corp has a 52 week low of $7.92 and a 52 week high of $13.06.

Luther Burbank (NASDAQ:LBC) last released its earnings results on Monday, April 29th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The company 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, analysts forecast that Luther Burbank Corp will post 0.85 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Thursday, May 9th will be given a dividend of $0.0575 per share. This represents a $0.23 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Wednesday, May 8th. Luther Burbank’s dividend payout ratio is currently 29.11%.

LBC has been the subject of several research analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $12.00 target price on shares of Luther Burbank in a research note on Sunday, February 24th. ValuEngine cut Luther Burbank from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research cut Luther Burbank from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.38.

In other news, CEO Simone Lagomarsino purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The shares were acquired at an average cost of $10.46 per share, with a total value of $104,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Liana Prieto sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $10.03, for a total value of $200,600.00. The disclosure for this sale can be found here. Corporate insiders own 20.78% of the company’s stock.

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About Luther Burbank

Luther Burbank Corporation operates as the bank holding company for Luther Burbank Savings that provides various banking products and services for individuals, entrepreneurs, professionals, and businesses in the United States. The company offers interest and noninterest-bearing transaction accounts, certificates of deposit, and money market accounts.

Further Reading: Strangles

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

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