Live Oak Bancshares (NASDAQ:LOB) Upgraded to Buy by SunTrust Banks

SunTrust Banks upgraded shares of Live Oak Bancshares (NASDAQ:LOB) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, Benzinga reports. They currently have $22.00 price objective on the bank’s stock.

Several other research analysts also recently commented on the company. BidaskClub upgraded Live Oak Bancshares from a sell rating to a hold rating in a research note on Wednesday, November 13th. TheStreet cut Live Oak Bancshares from a b rating to a c+ rating in a research report on Friday, August 16th. Zacks Investment Research downgraded shares of Live Oak Bancshares from a hold rating to a sell rating in a report on Friday, October 25th. Finally, ValuEngine lowered shares of Live Oak Bancshares from a strong-buy rating to a buy rating in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $21.00.

Shares of NASDAQ:LOB traded down $0.03 during trading on Thursday, hitting $19.32. 284,841 shares of the company were exchanged, compared to its average volume of 177,901. Live Oak Bancshares has a 52-week low of $13.09 and a 52-week high of $20.46. The stock has a 50 day moving average of $18.41 and a 200 day moving average of $17.75. The company has a market cap of $728.62 million, a PE ratio of 14.64 and a beta of 1.06.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.06). Live Oak Bancshares had a net margin of 7.88% and a return on equity of 4.50%. The company had revenue of $56.16 million during the quarter, compared to analysts’ expectations of $50.65 million. On average, analysts anticipate that Live Oak Bancshares will post 0.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.62%. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 9.09%.

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System grew its position in Live Oak Bancshares by 1.8% during the third quarter. California State Teachers Retirement System now owns 39,687 shares of the bank’s stock worth $718,000 after buying an additional 712 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its position in shares of Live Oak Bancshares by 10.0% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 8,254 shares of the bank’s stock valued at $149,000 after acquiring an additional 751 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Live Oak Bancshares by 100.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,741 shares of the bank’s stock valued at $32,000 after acquiring an additional 873 shares during the last quarter. Swiss National Bank boosted its position in shares of Live Oak Bancshares by 2.2% during the 2nd quarter. Swiss National Bank now owns 46,300 shares of the bank’s stock valued at $794,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Live Oak Bancshares by 121.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,496 shares of the bank’s stock worth $43,000 after purchasing an additional 1,368 shares in the last quarter. Institutional investors own 42.62% of the company’s stock.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. The company accepts various deposit products, including noninterest-bearing demand, interest-bearing checking, money market, savings, and time deposits.

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