Luther Burbank: Catalysts From Q3 2019 Represent A Compelling Reason To Invest [Seeking Alpha]
Luther Burbank Corporation (LBC)
Last luther burbank corporation earnings: 1/28 04:00 pm
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US:NYSE Investor Relations:
ir.lutherburbanksavings.com/investor-relations
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Source: Seeking Alpha
| Financials Luther Burbank: Catalysts From Q3 2019 Represent A Compelling Reason To Invest Jan. 14, 2020 11:54 AM ET About: Luther Burbank Corporation (LBC) by: Matthew Utesch Dividend investing, dividend growth investing, long only, Summary Net income in Q3 2019 was $12.7 million or $.23 per diluted common share vs. Q3 2018 net income of $12.1 million or $.21 per diluted common share. Unlike many banks, LBC saw the yield on its loan portfolio increase from 3.92% in Q2 2019 to 3.96% in Q3 2019. LBC began producing interest rates on certificates of deposit in Q3 2019 which resulted in net interest margin expansion from 1.75% to 1.84%. 1.044 million shares have been repurchased at an average price of $9.85/share since August 2018. LBC should see a nice benefit from decreased cost of deposits and a steady loan pipeline on its Q4 2019 earnings. Investment Thesis The last time I covered Luther Burbank ( A lot has changed since I published my article Luther Burbank: Is It Time To Buy Befo
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