Luther Burbank Corporation (NASDAQ:LBC) is reporting second quarter financial results on Tuesday 28th July 2020, after market close.
According to analysts surveyed by Thomson Reuters, LBC is expected to report 2Q20 income of $ 0.17 per share from revenue of $ 33.73 million.
For the full year, analysts anticipate top line of $ 137.17 million, while looking forward to income of $ 0.68 per share bottom line.
Previous Quarter Performance
Luther Burbank Corporation posted income for the first quarter of $ 0.14 per share, from the revenue of $ 32.91 million. The quarterly earnings shrunk 33.33 percent while revenues up 2.94 percent compared with the same quarter last year.
Wall street analysts are predicting, LBC to report 1Q20 income of $ 0.21 per share from revenue of $ 34.57 million. The bottom line results missed street analysts by $ 0.07 or 33.33 percent, at the same time, top line results fell short of analysts by $ 1.66 million or 4.8 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of LBC was $ 9.41, representing a 39.20 % increase from the 52 week low of $ 6.76 and a 21.52 % decrease over the 52 week high of $ 11.99.
The company has a market capital of $ 498.27 million and is part of the Financial Services sector and Banks – Regional – US industry.
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Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.0575 per share on May 4, 2020. The dividend were payable on May 26, 2020 to holders of record as of the close of business on May 14, 2020 and ex-dividend date on May 13, 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.
