Voya Investment Management LLC Has $7.08 Million Holdings in Luther Burbank Corp (LBC)
Voya Investment Management LLC lessened its stake in Luther Burbank Corp (NASDAQ:LBC) by 13.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 615,036 shares of the company’s stock after selling 94,131 shares during the period. Voya Investment Management LLC’s holdings in Luther Burbank were worth $7,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. American International Group Inc. acquired a new stake in Luther Burbank in the first quarter worth about $108,000. Schwab Charles Investment Management Inc. boosted its holdings in Luther Burbank by 17.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 66,982 shares of the company’s stock worth $771,000 after acquiring an additional 9,893 shares in the last quarter. Jennison Associates LLC boosted its holdings in Luther Burbank by 1.8% in the second quarter. Jennison Associates LLC now owns 556,068 shares of the company’s stock worth $6,398,000 after acquiring an additional 9,922 shares in the last quarter. Brown Advisory Inc. acquired a new stake in Luther Burbank in the second quarter worth about $119,000. Finally, Rhumbline Advisers acquired a new stake in Luther Burbank in the second quarter worth about $147,000. Institutional investors own 20.48% of the company’s stock.
Shares of NASDAQ LBC opened at $11.24 on Monday. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.27 and a quick ratio of 1.26. The stock has a market capitalization of $635.61 million and a price-to-earnings ratio of 7.92. Luther Burbank Corp has a fifty-two week low of $10.49 and a fifty-two week high of $13.60.
Several equities research analysts have weighed in on LBC shares. ValuEngine downgraded Luther Burbank from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Zacks Investment Research downgraded Luther Burbank from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Sandler O’Neill reissued a “hold” rating and issued a $11.50 price target on shares of Luther Burbank in a report on Monday, July 30th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $12.00 price target on shares of Luther Burbank in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Luther Burbank has an average rating of “Hold” and an average target price of $12.63.
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.
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