Live Oak Bancshares (NYSE:LOB – Get Free Report) announced its earnings results on Wednesday. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12), Zacks reports. The company had revenue of $175.65 million for the quarter, compared to analyst estimates of $167.50 million. Live Oak Bancshares had a net margin of 12.22% and a return on equity of 11.56%.
Live Oak Bancshares Trading Up 1.4%
NYSE LOB opened at $35.85 on Friday. The company’s fifty day simple moving average is $38.00 and its 200-day simple moving average is $38.74. The stock has a market cap of $1.66 billion, a P/E ratio of 12.62 and a beta of 1.94. Live Oak Bancshares has a 52 week low of $29.36 and a 52 week high of $44.53.
Live Oak Bancshares Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, September 1st. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 4.23%.
Insiders Place Their Bets
In other Live Oak Bancshares news, Director Tonya Bradford sold 1,600 shares of Live Oak Bancshares stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $39.89, for a total transaction of $63,824.00. Following the sale, the director directly owned 8,043 shares in the company, valued at $320,835.27. The trade was a 16.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Willam Williams, III sold 8,400 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $43.08, for a total transaction of $361,872.00. Following the completion of the sale, the director directly owned 1,114,126 shares of the company’s stock, valued at $47,996,548.08. The trade was a 0.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 29,654 shares of company stock worth $1,240,814. Company insiders own 22.40% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on LOB. Weiss Ratings upgraded Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Keefe, Bruyette & Woods boosted their target price on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. TD Cowen reduced their price objective on shares of Live Oak Bancshares from $49.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Piper Sandler decreased their target price on shares of Live Oak Bancshares from $46.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Finally, Cantor Fitzgerald cut their price target on Live Oak Bancshares from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Wednesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.50.
Check Out Our Latest Research Report on LOB
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc is the parent company of Live Oak Bank, a digital-focused financial institution headquartered in Wilmington, North Carolina. Founded in 2008, the company specializes in providing banking services to small and mid-sized businesses, with a particular emphasis on loans to owners of professional and industry-specific businesses.
Through Live Oak Bank, the company offers commercial lending, Small Business Administration (SBA) loans, business deposits, treasury management and other financial services.
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