Recap: Luther Burbank Q2 Earnings

Shares of Luther Burbank LBC were flat in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 127.78% over the past year to $0.41, which beat the estimate of $0.33.

Revenue of $41,409,000 higher by 22.44% from the same period last year, which beat the estimate of $39,970,000.

Outlook

Luther Burbank hasn't issued any earnings guidance for the time being.

Luther Burbank hasn't issued any revenue guidance for the time being.

Technicals

52-week high: $12.50

Company's 52-week low was at $7.58

Price action over last quarter: Up 12.60%

Company Description

Luther Burbank Corp is a bank holding company. It provides real estate secured lending in metropolitan areas in the United States. The company offers a suite of mortgage and savings products designed for customers. Its personal banking products include checking and saving the account, certificate of deposits, individual retirement account, and others. The loan portfolio of the company comprises commercial multifamily real estate loans and single family residential loans and other services. The company also provides the high-yield certificate of deposits, liquidity management, mobile business banking and among others. It generates most of the revenue from interest on loans and investments.