Luther Burbank Corporation with ticker code (LBC) have now 3 analysts covering the stock with the consensus suggesting a rating of ‘Hold’. The range between the high target price and low target price is between 16 and 14.5 with a mean TP of 15. Given that the stocks previous close was at 13.59 this would imply there is a potential upside of 10.4%. The day 50 moving average is 13.33 and the 200 moving average now moves to 13.51. The market cap for the company is $689m. Company Website: https://www.lutherburbanksavings.com
The potential market cap would be $760m based on the market concensus.
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. It also provides commercial real estate loans, including first mortgage loans for the purchase, refinance, or build-out of tenant improvements on investor-owned multifamily residential properties, as well as loans for the purchase, refinance, or improvement of office, retail, and light industrial properties; single family residential loans; and a portfolio of 30-year fixed rate first mortgage and a forgivable second mortgage. In addition, the company offers ATM, debit cards, online and mobile banking, and real estate investment services; and issues trust preferred securities. As of December 31, 2021, it operated ten full service branches in California located in Sonoma, Marin, Santa Clara, and Los Angeles Counties; one full service branch in Washington located in King County; six loan production offices located throughout California; and a loan production office in Clackamas County, Oregon. Luther Burbank Corporation was founded in 1983 and is headquartered in Santa Rosa, California.
