Equities analysts expect Luther Burbank Corp (NASDAQ:LBC) to report $0.21 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Luther Burbank’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.20. Luther Burbank reported earnings of $0.27 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 22.2%. The firm is expected to issue its next earnings results on Thursday, January 24th.
On average, analysts expect that Luther Burbank will report full-year earnings of $0.82 per share for the current year, with EPS estimates ranging from $0.81 to $0.82. For the next fiscal year, analysts anticipate that the company will report earnings of $0.89 per share, with EPS estimates ranging from $0.85 to $0.92. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Luther Burbank.
Luther Burbank (NASDAQ:LBC) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Luther Burbank had a net margin of 25.84% and a return on equity of 7.67%. The business had revenue of $32.76 million for the quarter, compared to the consensus estimate of $33.10 million.
Separately, Zacks Investment Research downgraded shares of Luther Burbank from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Luther Burbank currently has an average rating of “Hold” and a consensus target price of $12.63.
Shares of NASDAQ LBC traded down $0.24 during mid-day trading on Friday, reaching $9.80. The company had a trading volume of 87,576 shares, compared to its average volume of 105,128. Luther Burbank has a twelve month low of $9.23 and a twelve month high of $13.60. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $558.65 million and a PE ratio of 6.90.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 5th were paid a $0.0575 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Friday, November 2nd. Luther Burbank’s dividend payout ratio (DPR) is presently 16.20%.
In related news, major shareholder Victor Trione purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were acquired at an average cost of $9.45 per share, with a total value of $94,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 20.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its position in Luther Burbank by 17.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 66,982 shares of the company’s stock worth $771,000 after buying an additional 9,893 shares during the last quarter. Maltese Capital Management LLC increased its position in Luther Burbank by 23.4% during the second quarter. Maltese Capital Management LLC now owns 818,300 shares of the company’s stock worth $9,415,000 after buying an additional 155,000 shares during the last quarter. American Century Companies Inc. acquired a new position in Luther Burbank during the second quarter worth $203,000. Jennison Associates LLC increased its position in Luther Burbank by 1.8% during the second quarter. Jennison Associates LLC now owns 556,068 shares of the company’s stock worth $6,398,000 after buying an additional 9,922 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC acquired a new position in Luther Burbank during the third quarter worth $174,000. 23.62% of the stock is currently owned by hedge funds and other 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 individuals, entrepreneurs, professionals, and businesses in the United States. The company offers interest and noninterest-bearing transaction accounts, certificates of deposit, and money market accounts.
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