Zacks Investment Research upgraded shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) from a sell rating to a hold rating in a research 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. “
Other equities research analysts have also issued reports about the company. Sandler O’Neill upgraded Live Oak Bancshares from a hold rating to a buy rating and cut their price objective for the stock from $25.00 to $24.00 in a research note on Wednesday, September 6th. BidaskClub upgraded Live Oak Bancshares from a hold rating to a buy rating in a research note on Tuesday. Finally, TheStreet upgraded Live Oak Bancshares from a c rating to a b- rating in a research note on Monday, July 24th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $26.67.
Live Oak Bancshares (NASDAQ:LOB) traded down 0.41% during mid-day trading on Wednesday, hitting $24.10. The company had a trading volume of 30,699 shares. The firm has a market capitalization of $835.40 million, a P/E ratio of 34.83 and a beta of -0.09. The company has a 50-day moving average price of $22.92 and a 200 day moving average price of $22.92. Live Oak Bancshares has a 12 month low of $14.05 and a 12 month high of $26.05.
Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, July 26th. The bank reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. Live Oak Bancshares had a return on equity of 11.50% and a net margin of 13.71%. The company had revenue of $45.06 million during the quarter, compared to analyst estimates of $45.92 million. Equities analysts forecast that Live Oak Bancshares will post $0.88 EPS for the current fiscal year.
In other news, Director Diane Beth Glossman acquired 2,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was bought at an average cost of $23.07 per share, for a total transaction of $46,140.00. Following the purchase, the director now owns 26,892 shares in the company, valued at $620,398.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 30.10% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of LOB. First Trust Advisors LP grew its position in shares of Live Oak Bancshares by 9.4% in the first quarter. First Trust Advisors LP now owns 54,480 shares of the bank’s stock valued at $1,179,000 after purchasing an additional 4,691 shares in the last quarter. US Bancorp DE grew its position in shares of Live Oak Bancshares by 77.5% in the first quarter. US Bancorp DE now owns 4,614 shares of the bank’s stock valued at $100,000 after purchasing an additional 2,014 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Live Oak Bancshares by 11.3% in the first quarter. Bank of New York Mellon Corp now owns 111,565 shares of the bank’s stock valued at $2,416,000 after purchasing an additional 11,369 shares in the last quarter. TD Asset Management Inc. purchased a new stake in shares of Live Oak Bancshares in the first quarter valued at approximately $365,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Live Oak Bancshares in the first quarter valued at approximately $300,000. Institutional investors and hedge funds own 37.47% of the company’s stock.
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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