Brokerages expect that Luther Burbank Corp (NASDAQ:LBC) will announce $32.85 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Luther Burbank’s earnings. The highest sales estimate is $33.00 million and the lowest is $32.70 million. Luther Burbank posted sales of $31.98 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.7%. The firm is scheduled to report its next earnings report on Thursday, July 25th.
On average, analysts expect that Luther Burbank will report full-year sales of $133.10 million for the current fiscal year, with estimates ranging from $132.00 million to $134.20 million. For the next fiscal year, analysts anticipate that the business will report sales of $141.55 million, with estimates ranging from $137.20 million to $145.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Luther Burbank.
Luther Burbank (NASDAQ:LBC) last issued its earnings results on Monday, April 29th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $33.47 million for the quarter, compared to analyst estimates of $32.55 million. Luther Burbank had a net margin of 18.64% and a return on equity of 7.98%.
Several equities research analysts have commented on LBC shares. Zacks Investment Research lowered shares of Inflarx from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Sandler O’Neill upgraded shares of Oritani Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $19.00 in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $11.83.
In other Luther Burbank news, EVP Liana Prieto sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $10.03, for a total transaction of $200,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.78% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in LBC. ELCO Management Co. LLC acquired a new position in shares of Luther Burbank in the 1st quarter valued at $108,000. Kennedy Capital Management Inc. acquired a new position in shares of Luther Burbank in the 1st quarter valued at $1,313,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Luther Burbank in the 1st quarter valued at $85,000. Acadian Asset Management LLC boosted its position in shares of Luther Burbank by 1,967.6% in the 1st quarter. Acadian Asset Management LLC now owns 51,690 shares of the company’s stock valued at $522,000 after purchasing an additional 49,190 shares during the period. Finally, Boston Partners boosted its position in shares of Luther Burbank by 3.5% in the 1st quarter. Boston Partners now owns 376,270 shares of the company’s stock valued at $3,800,000 after purchasing an additional 12,782 shares during the period. 22.28% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ LBC traded down $0.01 during trading on Thursday, hitting $11.13. 2,234 shares of the company were exchanged, compared to its average volume of 75,137. The stock has a market cap of $634.70 million, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13. Luther Burbank has a 1 year low of $7.92 and a 1 year high of $12.47. The stock has a fifty day moving average price of $10.51. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.23 and a current ratio of 1.23.
Luther Burbank Company Profile
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, high net worth individuals, and commercial businesses. The company offers interest and noninterest-bearing transaction accounts, certificates of deposit, and money market accounts.
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