Analysts forecast that Luther Burbank Corp (NASDAQ:LBC) will post sales of $32.55 million for the current quarter, Zacks reports. Two analysts have provided estimates for Luther Burbank’s earnings, with the highest sales estimate coming in at $32.60 million and the lowest estimate coming in at $32.50 million. Luther Burbank reported sales of $31.49 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The firm is expected to report its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Luther Burbank will report full year sales of $133.05 million for the current year, with estimates ranging from $133.00 million to $133.10 million. For the next financial year, analysts forecast that the firm will post sales of $148.35 million, with estimates ranging from $143.80 million to $152.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Luther Burbank.

Luther Burbank (NASDAQ:LBC) last posted its quarterly earnings data on Monday, January 28th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.01). The company had revenue of $33.00 million for the quarter, compared to analysts’ expectations of $32.65 million. Luther Burbank had a net margin of 19.58% and a return on equity of 7.95%.

Several equities analysts have recently issued reports on LBC shares. Zacks Investment Research cut Luther Burbank from a “hold” rating to a “sell” rating in a research report on Tuesday, January 1st. ValuEngine lowered Luther Burbank from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $12.00 price objective on shares of Luther Burbank in a report on Sunday, February 24th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.50.

NASDAQ:LBC traded down $0.21 during midday trading on Thursday, reaching $10.57. The stock had a trading volume of 39,705 shares, compared to its average volume of 70,071. The firm has a market cap of $607.96 million, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.24 and a quick ratio of 1.24. Luther Burbank has a 12-month low of $7.92 and a 12-month high of $13.16.

In other Luther Burbank news, CEO Simone Lagomarsino purchased 10,000 shares of the stock in a transaction on Friday, February 15th. The shares were purchased at an average price of $10.46 per share, with a total value of $104,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 20.78% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. New York State Common Retirement Fund raised its holdings in Luther Burbank by 33.6% in the 4th quarter. New York State Common Retirement Fund now owns 15,100 shares of the company’s stock worth $136,000 after acquiring an additional 3,800 shares during the last quarter. M3F Inc. acquired a new position in shares of Luther Burbank in the 4th quarter worth approximately $226,000. Rhumbline Advisers lifted its stake in Luther Burbank by 57.6% during the fourth quarter. Rhumbline Advisers now owns 26,842 shares of the company’s stock valued at $242,000 after purchasing an additional 9,812 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Luther Burbank by 72.5% during the third quarter. Wells Fargo & Company MN now owns 23,968 shares of the company’s stock worth $260,000 after buying an additional 10,077 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Luther Burbank during the 3rd quarter valued at $273,000. 22.73% 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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Earnings History and Estimates for Luther Burbank (NASDAQ:LBC)

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