Live Oak Bancshares (LOB) Upgraded to “Hold” by BidaskClub
Live Oak Bancshares (NASDAQ:LOB) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
LOB has been the subject of a number of other research reports. Sandler O’Neill restated a “buy” rating and set a $30.00 target price on shares of Live Oak Bancshares in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of Live Oak Bancshares from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Tuesday, January 30th. Finally, TheStreet upgraded shares of Live Oak Bancshares from a “c” rating to a “b” rating in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Live Oak Bancshares currently has a consensus rating of “Buy” and a consensus price target of $28.25.
Live Oak Bancshares (NASDAQ LOB) opened at $27.20 on Friday. The firm has a market cap of $1,084.63, a P/E ratio of 10.84 and a beta of 0.23. Live Oak Bancshares has a 12-month low of $20.40 and a 12-month high of $28.20. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.05 and a quick ratio of 0.70.
In related news, CFO S. Brett Caines sold 7,740 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $25.84, for a total transaction of $200,001.60. Following the completion of the transaction, the chief financial officer now owns 408,211 shares in the company, valued at $10,548,172.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 71,790 shares of company stock valued at $1,899,829. 30.10% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Live Oak Bancshares by 2.3% during the fourth quarter. BlackRock Inc. now owns 1,247,002 shares of the bank’s stock valued at $29,741,000 after purchasing an additional 28,478 shares in the last quarter. Vanguard Group Inc. raised its stake in Live Oak Bancshares by 2.2% during the second quarter. Vanguard Group Inc. now owns 864,889 shares of the bank’s stock valued at $20,930,000 after purchasing an additional 18,939 shares in the last quarter. Driehaus Capital Management LLC raised its stake in Live Oak Bancshares by 5.5% during the fourth quarter. Driehaus Capital Management LLC now owns 616,811 shares of the bank’s stock valued at $14,711,000 after purchasing an additional 32,031 shares in the last quarter. Emerald Advisers Inc. PA raised its stake in Live Oak Bancshares by 14.1% during the fourth quarter. Emerald Advisers Inc. PA now owns 465,972 shares of the bank’s stock valued at $11,113,000 after purchasing an additional 57,750 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Live Oak Bancshares during the third quarter valued at $8,443,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.
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Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc is a bank holding company. The Company conducts business operations primarily through its commercial bank subsidiary, Live Oak Banking Company (the Bank). The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The loans originated by the Bank are guaranteed by the small business administration (SBA).
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