Insider Buying: Luther Burbank Corp (LBC) Director Purchases 15,000 Shares of Stock
Luther Burbank Corp (NASDAQ:LBC) Director Victor Trione bought 15,000 shares of the business’s stock in a transaction dated Thursday, December 6th. The stock was acquired at an average cost of $10.01 per share, for a total transaction of $150,150.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Victor Trione also recently made the following trade(s):
- On Tuesday, December 4th, Victor Trione bought 10,000 shares of Luther Burbank stock. The stock was acquired at an average cost of $9.45 per share, for a total transaction of $94,500.00.
Shares of LBC stock opened at $9.39 on Wednesday. Luther Burbank Corp has a 52 week low of $9.23 and a 52 week high of $13.60. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $554.12 million and a PE ratio of 6.61.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 5th were paid a $0.0575 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, November 2nd. Luther Burbank’s dividend payout ratio is presently 16.20%.
A number of institutional investors have recently added to or reduced their stakes in LBC. First Trust Advisors LP purchased a new stake in Luther Burbank during the 2nd quarter worth $920,000. Jennison Associates LLC increased its stake in Luther Burbank by 1.8% during the 2nd quarter. Jennison Associates LLC now owns 556,068 shares of the company’s stock worth $6,398,000 after buying an additional 9,922 shares during the period. Rhumbline Advisers purchased a new stake in Luther Burbank during the 2nd quarter worth $147,000. Bank of New York Mellon Corp increased its stake in Luther Burbank by 38.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 53,623 shares of the company’s stock worth $617,000 after buying an additional 14,815 shares during the period. Finally, Strs Ohio increased its stake in Luther Burbank by 415.0% during the 2nd quarter. Strs Ohio now owns 20,600 shares of the company’s stock worth $237,000 after buying an additional 16,600 shares during the period. 23.62% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded shares of Luther Burbank from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.63.
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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 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.
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