Wall Street analysts forecast that Luther Burbank Corp (NASDAQ:LBC) will post $33.10 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Luther Burbank’s earnings, with estimates ranging from $32.70 million to $33.50 million. The firm is expected to issue its next earnings report on Thursday, October 25th.

On average, analysts expect that Luther Burbank will report full year sales of $130.65 million for the current year, with estimates ranging from $130.00 million to $131.30 million. For the next fiscal year, analysts forecast that the business will report sales of $148.45 million per share, with estimates ranging from $144.20 million to $152.70 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Luther Burbank.

Luther Burbank (NASDAQ:LBC) last posted its quarterly earnings data on Thursday, July 26th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.20. The firm had revenue of $31.98 million for the quarter, compared to analysts’ expectations of $32.60 million.

A number of equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Luther Burbank from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Sandler O’Neill reaffirmed a “hold” rating and set a $11.50 price objective on shares of Luther Burbank in a report on Monday, July 30th. ValuEngine downgraded shares of Luther Burbank from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $12.00 price objective on shares of Luther Burbank in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $12.63.

LBC traded down $0.26 during mid-day trading on Wednesday, reaching $10.98. 140,100 shares of the stock were exchanged, compared to its average volume of 114,774. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.27 and a quick ratio of 1.26. The company has a market capitalization of $635.61 million and a price-to-earnings ratio of 7.73. Luther Burbank has a 1 year low of $10.49 and a 1 year high of $13.60.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Luther Burbank by 38.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 53,623 shares of the company’s stock worth $617,000 after purchasing an additional 14,815 shares during the period. Brown Advisory Inc. bought a new stake in shares of Luther Burbank during the 2nd quarter worth $119,000. JBF Capital Inc. bought a new stake in shares of Luther Burbank during the 2nd quarter worth $205,000. BlackRock Inc. raised its stake in shares of Luther Burbank by 18.7% during the 2nd quarter. BlackRock Inc. now owns 735,224 shares of the company’s stock worth $8,458,000 after purchasing an additional 115,757 shares during the period. Finally, Maltese Capital Management LLC raised its stake in shares of Luther Burbank by 23.4% during the 2nd quarter. Maltese Capital Management LLC now owns 818,300 shares of the company’s stock worth $9,415,000 after purchasing an additional 155,000 shares during the period. Institutional investors own 20.48% of the company’s stock.

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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