Live Oak Bancshares Inc. (LOB) Upgraded by Zacks Investment Research to “Hold”
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 analysts have also recently issued reports about the company. Sandler O’Neill cut Live Oak Bancshares from a buy rating to a hold rating in a research report on Thursday, June 2nd. Keefe, Bruyette & Woods dropped their price target on Live Oak Bancshares from $18.00 to $15.00 and set an outperform rating for the company in a research report on Friday, July 29th.
Live Oak Bancshares (NASDAQ:LOB) opened at 14.30 on Wednesday. The firm has a 50-day moving average price of $14.07 and a 200 day moving average price of $14.61. Live Oak Bancshares has a 1-year low of $12.10 and a 1-year high of $19.90. The company has a market capitalization of $489.15 million, a P/E ratio of 36.48 and a beta of -0.53.
Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.19 by $0.08. Live Oak Bancshares had a net margin of 10.45% and a return on equity of 8.54%. On average, equities analysts predict that Live Oak Bancshares will post $0.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.08 dividend on an annualized basis and a yield of 0.56%. This is a positive change from Live Oak Bancshares’s previous quarterly dividend of $0.01. Live Oak Bancshares’s payout ratio is 21.05%.
Several institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors raised its position in shares of Live Oak Bancshares by 337.8% in the second quarter. Nationwide Fund Advisors now owns 12,417 shares of the company’s stock valued at $175,000 after buying an additional 9,581 shares during the period. First Trust Advisors LP purchased a new position in Live Oak Bancshares during the second quarter valued at about $411,000. Emerald Acquisition Ltd. purchased a new position in Live Oak Bancshares during the second quarter valued at about $142,000. Swiss National Bank raised its position in Live Oak Bancshares by 201.2% in the second quarter. Swiss National Bank now owns 24,400 shares of the company’s stock valued at $344,000 after buying an additional 16,300 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Live Oak Bancshares by 299.4% in the second quarter. California State Teachers Retirement System now owns 41,015 shares of the company’s stock valued at $579,000 after buying an additional 30,746 shares during the last quarter. 33.82% of the stock is currently owned by institutional investors and hedge funds.
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc is the bank holding company for Live Oak Banking Company (the Bank). The Bank is a commercial bank and a national online platform for small business lending. The Company provides certain small businesses across the United States a means to access capital. The Company primarily originates loans partially guaranteed by the United States Small Business Administration (SBA) to small businesses and professionals.
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