Brokerages expect Luther Burbank Corp (NASDAQ:LBC) to announce earnings per share (EPS) of $0.21 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Luther Burbank’s earnings. The lowest EPS estimate is $0.20 and the highest is $0.21. Luther Burbank posted earnings per share of $0.27 in the same quarter last year, which would suggest a negative year-over-year growth rate of 22.2%. The company is scheduled to announce its next quarterly earnings report on Thursday, January 24th.
According to Zacks, analysts expect that Luther Burbank will report full-year earnings of $0.82 per share for the current financial year, with EPS estimates ranging from $0.81 to $0.82. For the next year, analysts forecast that the firm will post earnings of $0.89 per share, with EPS estimates ranging from $0.85 to $0.92. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Luther Burbank.
Luther Burbank (NASDAQ:LBC) last announced its quarterly earnings data on Thursday, October 25th. The company reported $0.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $32.76 million during the quarter, compared to analysts’ expectations of $33.10 million.
Separately, Zacks Investment Research cut 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 assigned a hold rating to the stock. Luther Burbank currently has an average rating of “Hold” and a consensus price target of $12.63.
In other news, major shareholder Victor Trione purchased 10,000 shares of the company’s stock in a transaction on Tuesday, December 4th. The stock was acquired at an average price of $9.45 per share, with a total value of $94,500.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 20.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Capital Research Global Investors raised its holdings in Luther Burbank by 16.7% in the 3rd quarter. Capital Research Global Investors now owns 1,750,000 shares of the company’s stock worth $19,040,000 after purchasing an additional 250,000 shares in the last quarter. BlackRock Inc. raised its holdings in Luther Burbank by 36.9% in the 3rd quarter. BlackRock Inc. now owns 1,006,252 shares of the company’s stock worth $10,948,000 after purchasing an additional 271,028 shares in the last quarter. Maltese Capital Management LLC raised its holdings in Luther Burbank by 7.7% in the 3rd quarter. Maltese Capital Management LLC now owns 881,000 shares of the company’s stock worth $9,585,000 after purchasing an additional 62,700 shares in the last quarter. Jennison Associates LLC raised its holdings in Luther Burbank by 1.8% in the 2nd quarter. Jennison Associates LLC now owns 556,068 shares of the company’s stock worth $6,398,000 after purchasing an additional 9,922 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Luther Burbank by 36.3% in the 3rd quarter. Vanguard Group Inc. now owns 480,997 shares of the company’s stock worth $5,233,000 after purchasing an additional 128,048 shares in the last quarter. 23.62% of the stock is owned by institutional investors and hedge funds.
Shares of Luther Burbank stock traded down $0.24 during trading on Friday, reaching $9.80. The company’s stock had a trading volume of 87,576 shares, compared to its average volume of 105,128. Luther Burbank has a 52-week low of $9.23 and a 52-week high of $13.60. The stock has a market capitalization of $558.65 million and a price-to-earnings ratio of 6.90. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.21 and a current ratio of 1.21.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, November 5th were given a dividend of $0.0575 per share. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $0.23 annualized dividend and a yield of 2.35%. Luther Burbank’s payout ratio is currently 16.20%.
Luther Burbank Company Profile
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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