Luther Burbank Corporation (NASDAQ:LBC) is set to announce third quarter earning results on Tuesday 27th October 2020, after market close.
Analysts surveyed by Thomson Reuters are predicting, LBC to report 3Q20 income of $ 0.21 per share.
For the full year, analysts anticipate top line of $ 138.70 million, while looking forward to income of $ 0.75 per share bottom line.
Previous Quarter Performance
Luther Burbank Corporation revealed income for the second quarter of $ 0.18 per share, from the revenue of $ 33.82 million. The quarterly earnings contracted 14.29 percent compared with the same quarter last year. The consensus estimates are income of $ 0.17 per share from $ 33.73 million in revenue. The bottom line results beat street analysts by $ 0.01 or 5.88 percent, at the same time, top line results outshined analysts by $ 0.09 million or 0.27 percent.
Stock Performance
Shares of Luther Burbank Corporation traded up $ 0.10 or 1.05 percent on Friday, reaching $ 9.64 with volume of 22.10 thousand shares. Luther Burbank Corporation has traded high as $ 9.67 and has cracked $ 9.54 on the downward trend
According to the previous trading day, closing price of $ 9.64, representing a 41.12 % increase from the 52 week low of $ 6.76 and a 20.43 % decrease over the 52 week high of $ 11.99.
The company has a market capital of $ 505.08 million and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 1st October 2020, maintained by Piper Sandler at Neutral rating, with $ 9.50 target price.
Recent Stock Dividend Announcement
On July 28, 2020, the board of directors authorized quarterly dividend of $ 0.0575 per share to holders of record as of the close of business on August 7, 2020, with payment date of August 17, 2020 and ex-dividend date on August 6, 2020.
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. It also provides commercial real estate loans, including first mortgage loans for the purchase, refinance, or build-out of tenant improvements on investor owned multifamily residential properties, as well as loans for the purchase, refinance, or improvement of office, retail, and light industrial properties; single family residential loans; and mortgage products, such as a portfolio of 30-year fixed rate first mortgage and a forgivable second mortgage.
