Equities analysts expect Luther Burbank Corp (NASDAQ:LBC) to announce $0.21 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Luther Burbank’s earnings, with the lowest EPS estimate coming in at $0.20 and the highest estimate coming in at $0.21. Luther Burbank reported earnings of $0.20 per share during the same quarter last year, which would indicate a positive year over year growth rate of 5%. The firm is expected to announce its next quarterly earnings results on Thursday, July 25th.
On average, analysts expect that Luther Burbank will report full year earnings of $0.85 per share for the current financial year, with EPS estimates ranging from $0.84 to $0.85. For the next year, analysts expect that the company will report earnings of $0.91 per share, with EPS estimates ranging from $0.87 to $0.94. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Luther Burbank.
Luther Burbank (NASDAQ:LBC) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The company had revenue of $33.47 million during the quarter, compared to the consensus estimate of $32.55 million. Luther Burbank had a return on equity of 7.98% and a net margin of 18.64%.
A number of analysts recently commented on LBC shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $12.00 price target on shares of Luther Burbank in a research report on Sunday, February 24th. Zacks Investment Research downgraded Luther Burbank from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Luther Burbank currently has a consensus rating of “Hold” and an average price target of $11.83.
In other Luther Burbank news, EVP Liana Prieto sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $10.03, for a total value of $200,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 20.78% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its position in Luther Burbank by 57.6% in the fourth quarter. Rhumbline Advisers now owns 26,842 shares of the company’s stock worth $242,000 after buying an additional 9,812 shares during the last quarter. Vanguard Group Inc increased its position in Luther Burbank by 36.3% in the third quarter. Vanguard Group Inc now owns 480,997 shares of the company’s stock worth $5,233,000 after buying an additional 128,048 shares during the last quarter. Vanguard Group Inc. increased its position in Luther Burbank by 36.3% in the third quarter. Vanguard Group Inc. now owns 480,997 shares of the company’s stock worth $5,233,000 after buying an additional 128,048 shares during the last quarter. Brandywine Global Investment Management LLC increased its position in Luther Burbank by 3.9% in the fourth quarter. Brandywine Global Investment Management LLC now owns 389,776 shares of the company’s stock worth $3,516,000 after buying an additional 14,612 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Luther Burbank by 20.8% in the third quarter. Bank of New York Mellon Corp now owns 64,781 shares of the company’s stock worth $705,000 after buying an additional 11,158 shares during the last quarter. 22.28% of the stock is owned by institutional investors and hedge funds.
Shares of LBC traded up $0.17 on Friday, reaching $10.59. 37,860 shares of the company’s stock traded hands, compared to its average volume of 83,639. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $596.41 million, a price-to-earnings ratio of 13.41, a PEG ratio of 1.79 and a beta of 1.08. Luther Burbank has a 52-week low of $7.92 and a 52-week high of $12.79.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Thursday, May 9th were given a dividend of $0.0575 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Wednesday, May 8th. Luther Burbank’s payout ratio is 29.11%.
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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