Brokerages forecast that Luther Burbank Corp (NASDAQ:LBC) will post earnings per share (EPS) of $0.20 for the current quarter, Zacks reports. Two analysts have made estimates for Luther Burbank’s earnings, with the lowest EPS estimate coming in at $0.19 and the highest estimate coming in at $0.21. The company is scheduled to announce its next earnings report on Thursday, October 25th.

On average, analysts expect that Luther Burbank will report full year earnings of $0.81 per share for the current financial year, with EPS estimates ranging from $0.79 to $0.82. For the next fiscal year, analysts forecast that the company will post earnings of $0.97 per share, with EPS estimates ranging from $0.91 to $1.02. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Luther Burbank.

Luther Burbank (NASDAQ:LBC) last released its earnings results on Thursday, July 26th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The firm had revenue of $31.98 million during the quarter, compared to analyst estimates of $32.60 million.

Several equities research analysts have weighed in on LBC shares. Zacks Investment Research raised shares of Luther Burbank from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Wednesday, May 23rd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $12.00 price target on shares of Luther Burbank in a research note on Wednesday, August 1st. Sandler O’Neill reaffirmed a “hold” rating and issued a $11.50 price target on shares of Luther Burbank in a research note on Monday, July 30th. Finally, ValuEngine downgraded shares of Luther Burbank from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.63.

LBC opened at $11.36 on Friday. Luther Burbank has a 1-year low of $10.49 and a 1-year high of $13.60. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $620.34 million and a price-to-earnings ratio of 8.00.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 6th were paid a $0.0575 dividend. This represents a $0.23 annualized dividend and a yield of 2.02%. The ex-dividend date was Friday, August 3rd. Luther Burbank’s dividend payout ratio (DPR) is currently 16.20%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in Luther Burbank by 38.2% in the second quarter. Bank of New York Mellon Corp now owns 53,623 shares of the company’s stock valued at $617,000 after purchasing an additional 14,815 shares in the last quarter. Brown Advisory Inc. bought a new stake in shares of Luther Burbank during the second quarter worth about $119,000. JBF Capital Inc. bought a new stake in shares of Luther Burbank during the second quarter worth about $205,000. BlackRock Inc. increased its position in shares of Luther Burbank by 18.7% during the second quarter. BlackRock Inc. now owns 735,224 shares of the company’s stock worth $8,458,000 after acquiring an additional 115,757 shares in the last quarter. Finally, Maltese Capital Management LLC increased its position in shares of 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 acquiring an additional 155,000 shares in the last quarter. 20.76% of the stock is 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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