Live Oak Bancshares Inc. (NASDAQ:LOB) Given Consensus Recommendation of “Buy” by Brokerages
Live Oak Bancshares Inc. (NASDAQ:LOB) has earned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Brokerages have set a 1-year consensus price objective of $16.50 for the company and are predicting that the company will post $0.07 EPS for the current quarter, according to Zacks. Zacks has also assigned Live Oak Bancshares an industry rank of 87 out of 265 based on the ratings given to its competitors.
Several equities research analysts have commented on LOB shares. Keefe, Bruyette & Woods cut their price objective on Live Oak Bancshares from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, July 29th. Sandler O’Neill lowered Live Oak Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, June 2nd. Finally, Zacks Investment Research lowered Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd.
Shares of Live Oak Bancshares (NASDAQ:LOB) opened at 14.11 on Tuesday. Live Oak Bancshares has a 52 week low of $12.10 and a 52 week high of $20.24. The company’s 50 day moving average price is $13.96 and its 200-day moving average price is $14.57. The company has a market capitalization of $482.65 million, a price-to-earnings ratio of 35.99 and a beta of -0.53.
Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.08. Live Oak Bancshares had a return on equity of 8.54% and a net margin of 10.45%. Analysts anticipate that Live Oak Bancshares will post $0.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.02 per share. This is a positive change from Live Oak Bancshares’s previous quarterly dividend of $0.01. This represents a $0.08 annualized dividend and a yield of 0.57%. The ex-dividend date was Tuesday, August 30th. Live Oak Bancshares’s payout ratio is 21.05%.
Large investors have recently bought and sold shares of the stock. BlackRock Fund Advisors raised its stake in Live Oak Bancshares by 312.6% in the second quarter. BlackRock Fund Advisors now owns 508,849 shares of the company’s stock worth $7,180,000 after buying an additional 385,520 shares during the period. State Street Corp raised its stake in Live Oak Bancshares by 407.8% in the second quarter. State Street Corp now owns 258,394 shares of the company’s stock worth $3,648,000 after buying an additional 207,514 shares during the period. Mendon Capital Advisors Corp raised its stake in Live Oak Bancshares by 42.6% in the first quarter. Mendon Capital Advisors Corp now owns 531,200 shares of the company’s stock worth $7,968,000 after buying an additional 158,820 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Live Oak Bancshares by 122.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 209,193 shares of the company’s stock worth $2,952,000 after buying an additional 115,259 shares during the period. Finally, RMB Capital Management LLC raised its stake in Live Oak Bancshares by 82.5% in the first quarter. RMB Capital Management LLC now owns 174,257 shares of the company’s stock worth $2,614,000 after buying an additional 78,767 shares during the period. Institutional investors and hedge funds own 33.82% of the company’s stock.
About Live Oak Bancshares
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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