Live Oak Bancshares Inc. (LOB) Upgraded to “Hold” by Zacks Investment Research
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. “
LOB has been the subject of several other reports. Keefe, Bruyette & Woods reduced their target price 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 downgraded Live Oak Bancshares from a buy rating to a hold rating in a research note on Thursday, June 2nd.
Live Oak Bancshares (NASDAQ:LOB) opened at 14.38 on Wednesday. Live Oak Bancshares has a 52 week low of $12.10 and a 52 week high of $19.50. The company has a 50 day moving average price of $14.14 and a 200-day moving average price of $14.63. The firm has a market capitalization of $491.88 million, a price-to-earnings ratio of 36.68 and a beta of -0.54.
Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.11 earnings per share 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 predict that Live Oak Bancshares will post $0.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were paid a $0.02 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This is an increase from Live Oak Bancshares’s previous quarterly dividend of $0.01. This represents a $0.08 annualized dividend and a yield of 0.56%. Live Oak Bancshares’s payout ratio is 21.05%.
A number of hedge funds have recently added to or reduced their stakes in LOB. Nationwide Fund Advisors increased its stake in Live Oak Bancshares by 337.8% in the second quarter. Nationwide Fund Advisors now owns 12,417 shares of the company’s stock valued at $175,000 after buying an additional 9,581 shares during the period. First Trust Advisors LP purchased a new stake in Live Oak Bancshares during the second quarter valued at about $411,000. Emerald Acquisition Ltd. purchased a new stake in Live Oak Bancshares during the second quarter valued at about $142,000. Swiss National Bank increased its stake in Live Oak Bancshares by 201.2% in the second quarter. Swiss National Bank now owns 24,400 shares of the company’s stock valued at $344,000 after buying an additional 16,300 shares during the period. Finally, California State Teachers Retirement System increased its stake in Live Oak Bancshares by 299.4% in the second quarter. California State Teachers Retirement System now owns 41,015 shares of the company’s stock valued at $579,000 after buying an additional 30,746 shares during the period. Institutional investors and hedge funds own 33.82% of the company’s stock.
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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