Zacks Investment Research Lowers Live Oak Bancshares (NASDAQ:LOB) to Sell

Zacks Investment Research lowered shares of Live Oak Bancshares (NASDAQ:LOB) from a hold rating to a sell rating in a report released on Tuesday, Zacks.com reports.

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 research analysts also recently issued reports about the stock. SunTrust Banks raised shares of Live Oak Bancshares from a hold rating to a buy rating and set a $22.00 price objective on the stock in a research report on Thursday, December 5th. ValuEngine cut shares of Live Oak Bancshares from a buy rating to a hold rating in a research note on Wednesday, December 11th. Finally, BidaskClub cut shares of Live Oak Bancshares from a sell rating to a strong sell rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. Live Oak Bancshares currently has a consensus rating of Hold and a consensus target price of $22.50.

Shares of Live Oak Bancshares stock opened at $18.02 on Tuesday. Live Oak Bancshares has a 1 year low of $13.41 and a 1 year high of $20.46. The company has a market capitalization of $724.54 million, a P/E ratio of 40.96 and a beta of 1.07. The company’s fifty day moving average is $18.45 and its two-hundred day moving average is $18.44.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. Live Oak Bancshares had a net margin of 6.10% and a return on equity of 3.69%. The company had revenue of $59.54 million for the quarter, compared to the consensus estimate of $54.61 million. As a group, sell-side analysts anticipate that Live Oak Bancshares will post 0.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 25th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Monday, February 24th. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 27.27%.

Several hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its stake in shares of Live Oak Bancshares by 1.8% in the 3rd quarter. California State Teachers Retirement System now owns 39,687 shares of the bank’s stock worth $718,000 after acquiring an additional 712 shares during the period. Metropolitan Life Insurance Co NY lifted its stake in shares of Live Oak Bancshares by 10.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 8,254 shares of the bank’s stock worth $149,000 after acquiring an additional 751 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Live Oak Bancshares by 100.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,741 shares of the bank’s stock worth $32,000 after acquiring an additional 873 shares during the period. McIlrath & Eck LLC acquired a new stake in shares of Live Oak Bancshares in the 4th quarter worth $26,000. Finally, Swiss National Bank lifted its stake in shares of Live Oak Bancshares by 3.0% in the 4th quarter. Swiss National Bank now owns 47,700 shares of the bank’s stock worth $907,000 after acquiring an additional 1,400 shares during the period. Institutional investors own 42.60% 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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