In a report released today, Matthew Clark from Piper Sandler maintained a Hold rating on Luther Burbank (LBC), with a price target of $9.50. The company’s shares closed last Thursday at $8.14.
According to TipRanks.com, Clark has 0 stars on 0-5 stars ranking scale with an average return of -5.3% and a 42.5% success rate. Clark covers the Financial sector, focusing on stocks such as Provident Financial Holdings, First Interstate Bancsystem, and Private Bancorp of America.
Currently, the analyst consensus on Luther Burbank is a Hold with an average price target of $9.50.
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Based on Luther Burbank’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $33.82 million and net profit of $9.32 million. In comparison, last year the company earned revenue of $32.06 million and had a net profit of $11.66 million.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is neutral on the stock.
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Luther Burbank Corp. operates as a bank holding company. The firm operates through its subsidiary, Luther Burbank Savings. It accepts deposits from general public and invests those funds in real estate loans, including permanent mortgage and construction loan. The company was founded on May 14, 1991 and is headquartered in Santa Rosa, CA.
