Luther Burbank Co. Declares Quarterly Dividend of $0.12 (NASDAQ:LBC)

Luther Burbank Co. (NASDAQ:LBCGet Rating) declared a quarterly dividend on Tuesday, April 26th, Zacks reports. Shareholders of record on Friday, May 6th will be paid a dividend of 0.12 per share on Monday, May 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Thursday, May 5th.

Luther Burbank has increased its dividend payment by an average of 23.7% per year over the last three years and has increased its dividend every year for the last 1 years. Luther Burbank has a payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Luther Burbank to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 32.9%.

LBC opened at $13.54 on Thursday. The stock has a 50-day moving average of $13.31 and a 200 day moving average of $13.67. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.36. Luther Burbank has a 12 month low of $10.93 and a 12 month high of $15.37. The firm has a market cap of $699.33 million, a P/E ratio of 8.01 and a beta of 0.79.

Luther Burbank (NASDAQ:LBCGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. Luther Burbank had a return on equity of 13.57% and a net margin of 38.19%. During the same period last year, the business posted $0.35 earnings per share. On average, research analysts forecast that Luther Burbank will post 1.53 earnings per share for the current fiscal year.

Several research firms have commented on LBC. DA Davidson lowered shares of Luther Burbank from a “buy” rating to a “neutral” rating in a research note on Thursday, January 27th. Zacks Investment Research downgraded shares of Luther Burbank from a “hold” rating to a “sell” rating in a report on Thursday.

Hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. grew its stake in Luther Burbank by 57.1% in the 4th quarter. Citigroup Inc. now owns 5,772 shares of the company’s stock worth $81,000 after acquiring an additional 2,098 shares in the last quarter. UBS Group AG boosted its holdings in shares of Luther Burbank by 49.7% in the third quarter. UBS Group AG now owns 6,414 shares of the company’s stock valued at $86,000 after purchasing an additional 2,129 shares during the period. BNP Paribas Arbitrage SA grew its stake in Luther Burbank by 49.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 6,504 shares of the company’s stock worth $91,000 after purchasing an additional 2,164 shares in the last quarter. Morgan Stanley increased its holdings in Luther Burbank by 6.5% during the 3rd quarter. Morgan Stanley now owns 38,760 shares of the company’s stock worth $519,000 after purchasing an additional 2,349 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in Luther Burbank by 17.6% during the 4th quarter. Parametric Portfolio Associates LLC now owns 22,927 shares of the company’s stock worth $322,000 after purchasing an additional 3,436 shares during the period. Institutional investors and hedge funds own 14.93% of the company’s stock.

Luther Burbank Company Profile (Get Rating)

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, depositors, and commercial businesses. The company offers interest and noninterest-bearing transaction accounts, certificates of deposit, and money market accounts.

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Dividend History for Luther Burbank (NASDAQ:LBC)

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