Analysts expect Luther Burbank Corp (NASDAQ:LBC) to post earnings per share of $0.20 for the current quarter, according to Zacks Investment Research. 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 suggests a negative year-over-year growth rate of 4.8%. The company is scheduled to issue its next quarterly 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 fiscal year. For the next financial year, analysts forecast 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 averages are an average based on a survey of sell-side research analysts that that provide coverage for Luther Burbank.
Luther Burbank (NASDAQ:LBC) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Luther Burbank had a net margin of 17.97% and a return on equity of 7.94%. The company had revenue of $32.06 million during the quarter, compared to analyst estimates of $32.85 million.
Several large investors have recently bought and sold shares of LBC. Vanguard Group Inc. grew its holdings in shares of Luther Burbank by 2.0% in the second quarter. Vanguard Group Inc. now owns 640,989 shares of the company’s stock valued at $6,980,000 after purchasing an additional 12,382 shares during the period. Boston Partners lifted its position in shares of Luther Burbank by 3.5% during the 1st quarter. Boston Partners now owns 376,270 shares of the company’s stock worth $3,800,000 after buying an additional 12,782 shares during the period. JPMorgan Chase & Co. raised its position in Luther Burbank by 5,518.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 286,823 shares of the company’s stock valued at $3,085,000 after purchasing an additional 281,718 shares during the last quarter. Mendon Capital Advisors Corp raised its position in Luther Burbank by 62.4% in the 2nd quarter. Mendon Capital Advisors Corp now owns 279,077 shares of the company’s stock valued at $3,039,000 after purchasing an additional 107,278 shares during the last quarter. Finally, Northern Trust Corp raised its position in Luther Burbank by 3.1% in the 2nd quarter. Northern Trust Corp now owns 224,325 shares of the company’s stock valued at $2,443,000 after purchasing an additional 6,640 shares during the last quarter. Institutional investors and hedge funds own 21.65% of the company’s stock.
Shares of NASDAQ:LBC traded up $0.07 during trading hours on Friday, hitting $11.59. The company’s stock had a trading volume of 201 shares, compared to its average volume of 37,242. Luther Burbank has a 52 week low of $7.92 and a 52 week high of $11.90. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $619.86 million, a price-to-earnings ratio of 14.66, a P/E/G ratio of 1.92 and a beta of 1.15. The firm’s fifty day moving average price is $10.68 and its 200 day moving average price is $10.53.
The firm also recently declared 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 was Wednesday, August 7th. This represents a $0.23 annualized dividend and a dividend yield of 2.00%. Luther Burbank’s dividend 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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