Wall Street brokerages expect Luther Burbank Corp (NASDAQ:LBC) to announce earnings of $0.20 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Luther Burbank’s earnings. Luther Burbank reported earnings per share of $0.21 during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.8%. The business is scheduled to issue its next earnings report on Thursday, October 24th.
On average, analysts expect that Luther Burbank will report full year earnings of $0.82 per share for the current year. For the next year, analysts anticipate that the company will report earnings of $0.89 per share, with EPS estimates ranging from $0.89 to $0.90. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Luther Burbank.
Luther Burbank (NASDAQ:LBC) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm had revenue of $32.06 million during the quarter, compared to the consensus estimate of $32.85 million. Luther Burbank had a net margin of 17.97% and a return on equity of 7.94%.
LBC has been the subject of several recent analyst reports. Sandler O’Neill raised shares of Luther Burbank from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. ValuEngine downgraded shares of Luther Burbank from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd.
Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its stake in shares of Luther Burbank by 288.6% in the first quarter. BNP Paribas Arbitrage SA now owns 4,333 shares of the company’s stock worth $44,000 after buying an additional 3,218 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in Luther Burbank in the 1st quarter valued at $85,000. ELCO Management Co. LLC purchased a new position in Luther Burbank during the 1st quarter worth $108,000. Virginia Retirement Systems ET AL purchased a new position in Luther Burbank during the 2nd quarter worth $118,000. Finally, Trexquant Investment LP purchased a new position in Luther Burbank during the 2nd quarter worth $182,000. 21.65% of the stock is owned by institutional investors.
Shares of NASDAQ:LBC traded up $0.07 during midday trading on Friday, hitting $11.59. 201 shares of the stock traded hands, compared to its average volume of 37,242. The stock has a market capitalization of $619.86 million, a PE ratio of 14.66, a P/E/G ratio of 1.92 and a beta of 1.15. The business’s 50 day moving average is $10.68 and its two-hundred day moving average is $10.53. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 2.05. Luther Burbank has a one year low of $7.92 and a one year high of $11.90.
The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Thursday, August 8th were paid a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Wednesday, August 7th. Luther Burbank’s payout ratio is currently 29.11%.
About Luther Burbank
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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