Wall Street analysts forecast that Luther Burbank Corp (NASDAQ:LBC) will post sales of $32.55 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Luther Burbank’s earnings. The highest sales estimate is $33.60 million and the lowest is $31.50 million. Luther Burbank posted sales of $32.76 million in the same quarter last year, which suggests a negative year over year growth rate of 0.6%. The company is scheduled to issue its next quarterly earnings results on Thursday, October 24th.
On average, analysts expect that Luther Burbank will report full-year sales of $131.45 million for the current year, with estimates ranging from $128.70 million to $134.20 million. For the next year, analysts expect that the company will post sales of $140.05 million, with estimates ranging from $134.20 million to $145.90 million. Zacks’ sales averages are an average based on a survey of analysts that follow Luther Burbank.
Luther Burbank (NASDAQ:LBC) last issued its earnings results on Monday, July 29th. The company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ 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 return on equity of 7.94% and a net margin of 17.97%.
Hedge funds have recently made changes to their positions in the stock. Trexquant Investment LP acquired a new position in Luther Burbank in the second quarter valued at approximately $182,000. Kennedy Capital Management Inc. acquired a new position in Luther Burbank in the first quarter valued at approximately $1,313,000. Acadian Asset Management LLC lifted its stake in Luther Burbank by 1,967.6% in the first quarter. Acadian Asset Management LLC now owns 51,690 shares of the company’s stock valued at $522,000 after buying an additional 49,190 shares during the period. Boston Partners lifted its stake in Luther Burbank by 3.5% in the first quarter. Boston Partners now owns 376,270 shares of the company’s stock valued at $3,800,000 after buying an additional 12,782 shares during the period. Finally, ELCO Management Co. LLC acquired a new position in Luther Burbank in the first quarter valued at approximately $108,000. Institutional investors and hedge funds own 21.65% of the company’s stock.
LBC stock traded up $0.07 during trading on Tuesday, hitting $11.59. The company had a trading volume of 201 shares, compared to its average volume of 37,242. The business has a 50-day moving average of $10.68 and a 200-day moving average of $10.53. Luther Burbank has a one year low of $7.92 and a one year high of $11.90. The stock has a market cap of $619.86 million, a PE ratio of 14.66, a PEG ratio of 1.92 and a beta of 1.15. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 2.05.
The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Thursday, August 8th were issued a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, August 7th. Luther Burbank’s payout ratio is presently 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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