Brokerages predict that Luther Burbank Corp (NASDAQ:LBC) will post sales of $32.55 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Luther Burbank’s earnings. The highest sales estimate is $33.60 million and the lowest is $31.50 million. Luther Burbank reported sales of $32.76 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.6%. The business is expected to report its next quarterly earnings report on Thursday, October 24th.

On average, analysts expect that Luther Burbank will report full year sales of $131.45 million for the current year, with estimates ranging from $128.70 million to $134.20 million. For the next fiscal year, analysts anticipate that the business will report sales of $140.05 million, with estimates ranging from $134.20 million to $145.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Luther Burbank.

Luther Burbank (NASDAQ:LBC) last released its earnings results on Monday, July 29th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The company had revenue of $32.06 million for the quarter, compared to analyst estimates of $32.85 million. Luther Burbank had a net margin of 17.97% and a return on equity of 7.94%.

LBC has been the topic of a number of research reports. Sandler O’Neill upgraded shares of Luther Burbank from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. ValuEngine lowered shares of Luther Burbank from a “hold” rating to a “sell” rating in a report on Friday, August 2nd.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its stake in Luther Burbank by 288.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,333 shares of the company’s stock worth $44,000 after acquiring an additional 3,218 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Luther Burbank during the 1st quarter worth $85,000. ELCO Management Co. LLC acquired a new stake in Luther Burbank during the 1st quarter worth $108,000. Virginia Retirement Systems ET AL acquired a new stake in Luther Burbank during the 2nd quarter worth $118,000. Finally, Trexquant Investment LP acquired a new stake in Luther Burbank during the 2nd quarter worth $182,000. Institutional investors and hedge funds own 21.65% of the company’s stock.

Luther Burbank stock traded down $0.12 during mid-day trading on Tuesday, reaching $11.29. 16,169 shares of the company’s stock were exchanged, compared to its average volume of 64,264. The company has a market cap of $648.50 million, a P/E ratio of 14.29, a P/E/G ratio of 2.01 and a beta of 1.15. Luther Burbank has a twelve month low of $7.92 and a twelve month high of $11.73. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 2.05. The company has a fifty day moving average of $10.71 and a 200-day moving average of $10.55.

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.05%. Luther Burbank’s payout ratio is 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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Earnings History and Estimates for Luther Burbank (NASDAQ:LBC)

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