Analysts predict that Luther Burbank Corp (NASDAQ:LBC) will report $32.55 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Luther Burbank’s earnings, with the highest sales estimate coming in at $33.60 million and the lowest estimate coming in at $31.50 million. Luther Burbank posted sales of $32.76 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.6%. The business is expected to issue its next quarterly earnings results on Thursday, October 24th.
According to Zacks, 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 fiscal year, analysts anticipate that the business will post sales of $140.05 million, with estimates ranging from $134.20 million to $145.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Luther Burbank.
Luther Burbank (NASDAQ:LBC) last announced its earnings results on Monday, July 29th. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $32.06 million during the quarter, compared to analyst estimates of $32.85 million. Luther Burbank had a net margin of 17.97% and a return on equity of 7.94%.
NASDAQ:LBC traded up $0.05 on Monday, hitting $10.68. 215 shares of the company’s stock were exchanged, compared to its average volume of 32,518. The firm has a 50-day moving average price of $10.87 and a 200-day moving average price of $10.48. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.21 and a quick ratio of 1.21. Luther Burbank has a 52 week low of $7.92 and a 52 week high of $12.47. The company has a market cap of $597.97 million, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.86 and a beta of 1.13.
The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Thursday, August 8th were issued a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.17%. Luther Burbank’s payout ratio is 29.11%.
Hedge funds have recently modified their holdings of the company. Kennedy Capital Management Inc. bought a new stake in shares of Luther Burbank in the 1st quarter valued at about $1,313,000. Geode Capital Management LLC raised its holdings in Luther Burbank by 14.0% in the 4th quarter. Geode Capital Management LLC now owns 180,975 shares of the company’s stock valued at $1,632,000 after acquiring an additional 22,246 shares during the period. Acadian Asset Management LLC raised its holdings in 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 acquiring an additional 49,190 shares during the period. Boston Partners raised its holdings in 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 acquiring an additional 12,782 shares during the period. Finally, ELCO Management Co. LLC bought a new position in Luther Burbank in the 1st quarter valued at about $108,000. 23.58% of the stock is currently owned by institutional investors.
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.
Recommended Story: How does a reverse stock split work?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Luther Burbank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luther Burbank and related companies with MarketBeat.com's FREE daily email newsletter.