Live Oak Bancshares, Inc. (LOB) Upgraded to Buy at Sandler O’Neill
Sandler O’Neill upgraded shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) from a hold rating to a buy rating in a research note released on Wednesday morning. The firm currently has $24.00 price objective on the bank’s stock, down from their prior price objective of $25.00.
Other equities analysts have also issued reports about the company. TheStreet upgraded Live Oak Bancshares from a c rating to a b- rating in a research note on Monday, July 24th. Zacks Investment Research upgraded Live Oak Bancshares from a hold rating to a buy rating and set a $29.00 target price for the company in a research note on Friday, May 12th. Finally, BidaskClub lowered Live Oak Bancshares from a hold rating to a sell rating in a research note on Tuesday, August 22nd.
Live Oak Bancshares (NASDAQ:LOB) traded down 2.95% during trading on Wednesday, hitting $21.40. The stock had a trading volume of 5,454 shares. Live Oak Bancshares has a one year low of $13.78 and a one year high of $26.05. The stock’s 50-day moving average is $23.54 and its 200 day moving average is $23.49. The firm has a market cap of $741.81 million, a price-to-earnings ratio of 30.92 and a beta of -0.11.
Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, July 26th. The bank reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The firm had revenue of $45.06 million during the quarter, compared to analyst estimates of $45.92 million. Live Oak Bancshares had a return on equity of 11.50% and a net margin of 13.71%. Equities analysts anticipate that Live Oak Bancshares will post $0.88 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were paid a $0.03 dividend. This is a positive change from Live Oak Bancshares’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a yield of 0.54%. The ex-dividend date was Thursday, August 17th. Live Oak Bancshares’s dividend payout ratio is presently 17.14%.
In other news, Director Diane Beth Glossman purchased 2,000 shares of the company’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 completion of the purchase, the director now directly owns 26,892 shares of the company’s stock, valued at approximately $620,398.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 30.10% of the company’s stock.
A number of large investors have recently made changes to their positions in LOB. Teachers Advisors LLC increased its stake in Live Oak Bancshares by 4.7% during the fourth quarter. Teachers Advisors LLC now owns 33,863 shares of the bank’s stock worth $626,000 after acquiring an additional 1,530 shares during the last quarter. First Trust Advisors LP increased its stake in Live Oak Bancshares by 9.4% during the first quarter. First Trust Advisors LP now owns 54,480 shares of the bank’s stock worth $1,179,000 after acquiring an additional 4,691 shares during the last quarter. US Bancorp DE increased its stake in Live Oak Bancshares by 77.5% during the first quarter. US Bancorp DE now owns 4,614 shares of the bank’s stock worth $100,000 after acquiring an additional 2,014 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Live Oak Bancshares by 11.3% during the first quarter. Bank of New York Mellon Corp now owns 111,565 shares of the bank’s stock worth $2,416,000 after acquiring an additional 11,369 shares during the last quarter. Finally, TD Asset Management Inc. acquired a new stake in Live Oak Bancshares during the first quarter worth about $365,000. Institutional investors own 37.84% 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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