Live Oak Bancshares Inc. (NASDAQ:LOB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Live Oak Bancshares Inc. is the parent and registered bank holding company of Live Oak Banking Company which offers online platform for small business lending. The company accepts deposit products as well as offers loans which comprise small business administration loans; conventional commercial business loans to small and medium sized businesses and construction loans. It offers loans to the veterinary, pharmacy, investment advisory, beverages, funeral homes, entertainment centers, agricultural and healthcare sectors. Live Oak Bancshares Inc. is headquartered in Wilmington, North Carolina. “
A number of other research analysts have also recently weighed in on the company. Sandler O’Neill cut Live Oak Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, June 2nd. Keefe, Bruyette & Woods lowered their price target on Live Oak Bancshares from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, July 29th.
Shares of Live Oak Bancshares (NASDAQ:LOB) opened at 14.17 on Wednesday. The stock has a 50 day moving average of $14.08 and a 200-day moving average of $14.61. The stock has a market capitalization of $484.70 million, a P/E ratio of 36.15 and a beta of -0.53. Live Oak Bancshares has a one year low of $12.10 and a one year high of $19.50.
Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.08. Live Oak Bancshares had a net margin of 10.45% and a return on equity of 8.54%. Equities analysts forecast that Live Oak Bancshares will post $0.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were issued a $0.02 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This is a boost from Live Oak Bancshares’s previous quarterly dividend of $0.01. This represents a $0.08 dividend on an annualized basis and a yield of 0.56%. Live Oak Bancshares’s payout ratio is currently 21.05%.
A number of hedge funds and other institutional investors have recently bought and sold shares of LOB. Schwab Charles Investment Management Inc. acquired a new position in Live Oak Bancshares during the second quarter worth approximately $425,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Live Oak Bancshares during the second quarter valued at about $217,000. State Street Corp boosted its stake in shares of Live Oak Bancshares by 407.8% in the second quarter. State Street Corp now owns 258,394 shares of the company’s stock valued at $3,648,000 after buying an additional 207,514 shares during the period. Rhumbline Advisers purchased a new stake in shares of Live Oak Bancshares during the second quarter valued at about $150,000. Finally, Raymond James & Associates boosted its stake in shares of Live Oak Bancshares by 0.6% in the second quarter. Raymond James & Associates now owns 15,612 shares of the company’s stock valued at $220,000 after buying an additional 100 shares during the period. 33.82% of the stock is currently owned by institutional investors.
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc is the bank holding company for Live Oak Banking Company (the Bank). The Bank is a commercial bank and a national online platform for small business lending. The Company provides certain small businesses across the United States a means to access capital. The Company primarily originates loans partially guaranteed by the United States Small Business Administration (SBA) to small businesses and professionals.
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