Strs Ohio increased its stake in shares of Luther Burbank Corp (NASDAQ:LBC) by 28.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,200 shares of the company’s stock after purchasing an additional 13,378 shares during the quarter. Strs Ohio’s holdings in Luther Burbank were worth $543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of Luther Burbank by 38.2% during the second quarter. Bank of New York Mellon Corp now owns 53,623 shares of the company’s stock valued at $617,000 after acquiring an additional 14,815 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Luther Burbank by 17.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 66,982 shares of the company’s stock valued at $771,000 after acquiring an additional 9,893 shares during the period. BlackRock Inc. increased its stake in shares of Luther Burbank by 18.7% during the second quarter. BlackRock Inc. now owns 735,224 shares of the company’s stock valued at $8,458,000 after acquiring an additional 115,757 shares during the period. JCSD Capital LLC acquired a new position in shares of Luther Burbank during the third quarter valued at approximately $556,000. Finally, Wells Fargo & Company MN increased its stake in shares of Luther Burbank by 72.5% during the third quarter. Wells Fargo & Company MN now owns 23,968 shares of the company’s stock valued at $260,000 after acquiring an additional 10,077 shares during the period. 23.70% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have issued reports on LBC shares. Zacks Investment Research lowered shares of Luther Burbank from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. ValuEngine cut shares of Luther Burbank from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Luther Burbank presently has a consensus rating of “Hold” and an average price target of $12.63.

In related news, major shareholder Victor Trione bought 10,000 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was bought at an average price of $9.45 per share, with a total value of $94,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have acquired 27,600 shares of company stock worth $268,934. Corporate insiders own 20.40% of the company’s stock.

NASDAQ LBC remained flat at $$9.72 on Monday. 4,181 shares of the company’s stock traded hands, compared to its average volume of 61,712. Luther Burbank Corp has a 12-month low of $7.92 and a 12-month high of $13.60. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $549.60 million, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.74 and a beta of 1.07.

Luther Burbank (NASDAQ:LBC) last posted its quarterly earnings data on Monday, January 28th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). Luther Burbank had a return on equity of 8.01% and a net margin of 19.58%. The firm had revenue of $33.00 million for the quarter, compared to analysts’ expectations of $32.65 million. On average, equities research analysts expect that Luther Burbank Corp will post 0.8 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 19th. Shareholders of record on Friday, February 8th will be given a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, February 7th. Luther Burbank’s payout ratio is 29.11%.

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Luther Burbank 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.

Further Reading: What is the Coverage Ratio?

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

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