Brokerages predict that Luther Burbank Corp (NASDAQ:LBC) will announce sales of $32.85 million for the current quarter, according to Zacks. Two analysts have made estimates for Luther Burbank’s earnings. The lowest sales estimate is $32.70 million and the highest is $33.00 million. Luther Burbank posted sales of $31.98 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.7%. The company is expected to issue its next quarterly 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 financial year, with estimates ranging from $132.00 million to $134.20 million. For the next financial year, analysts expect that the company will post sales of $141.55 million, with estimates ranging from $137.20 million to $145.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Luther Burbank.
Luther Burbank (NASDAQ:LBC) last posted its earnings results on Monday, April 29th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Luther Burbank had a net margin of 18.64% and a return on equity of 7.98%. The firm had revenue of $33.47 million for the quarter, compared to the consensus estimate of $32.55 million.
In related news, EVP Liana Prieto sold 20,000 shares of the company’s stock in a transaction dated 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 filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 20.78% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its position in Luther Burbank by 288.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,333 shares of the company’s stock valued at $44,000 after buying an additional 3,218 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in shares of Luther Burbank in the 1st quarter worth approximately $85,000. ELCO Management Co. LLC purchased a new stake in shares of Luther Burbank in the 1st quarter worth approximately $108,000. New York State Common Retirement Fund lifted its position in shares of Luther Burbank by 33.6% in the 4th quarter. New York State Common Retirement Fund now owns 15,100 shares of the company’s stock worth $136,000 after purchasing an additional 3,800 shares during the period. Finally, Rhumbline Advisers lifted its position in Luther Burbank by 57.6% during the fourth quarter. Rhumbline Advisers now owns 26,842 shares of the company’s stock valued at $242,000 after acquiring an additional 9,812 shares during the last quarter. 22.28% of the stock is owned by institutional investors.
Shares of Luther Burbank stock traded down $0.01 during trading hours on Thursday, reaching $11.13. The company’s stock had a trading volume of 2,234 shares, compared to its average volume of 75,137. The business’s 50 day simple moving average is $10.51. Luther Burbank has a one year low of $7.92 and a one year high of $12.47. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market cap of $634.70 million, a PE ratio of 14.10, a P/E/G ratio of 1.91 and a beta of 1.13.
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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