Live Oak Bancshares, Inc. (LOB) Downgraded by BidaskClub to “Hold”
BidaskClub cut shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) from a buy rating to a hold rating in a research note released on Wednesday.
Several other research analysts have also commented on the company. Sandler O’Neill upgraded Live Oak Bancshares from a hold rating to a buy rating and dropped their target price for the company from $25.00 to $24.00 in a research report on Wednesday, September 6th. Zacks Investment Research lowered Live Oak Bancshares from a hold rating to a sell rating in a research report on Tuesday, August 15th. Keefe, Bruyette & Woods began coverage on Live Oak Bancshares in a research report on Monday. They set a market perform rating and a $26.00 target price for the company. SunTrust Banks, Inc. restated a buy rating and set a $27.00 target price on shares of Live Oak Bancshares in a research report on Thursday, October 12th. Finally, TheStreet upgraded Live Oak Bancshares from a c rating to a b- rating in a research report on Monday, July 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $26.50.
Shares of Live Oak Bancshares (NASDAQ LOB) traded down 0.21% during trading on Wednesday, hitting $23.45. The stock had a trading volume of 59,524 shares. The stock’s 50-day moving average price is $22.81 and its 200 day moving average price is $23.67. Live Oak Bancshares has a 1-year low of $14.05 and a 1-year high of $26.05. The firm has a market capitalization of $812.87 million, a P/E ratio of 33.89 and a beta of -0.09.
Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. The business had revenue of $45.06 million for the quarter, compared to analysts’ expectations of $45.92 million. Live Oak Bancshares had a return on equity of 11.50% and a net margin of 13.71%. On average, analysts anticipate that Live Oak Bancshares will post $0.90 earnings per share for the current year.
In other Live Oak Bancshares news, Director Diane Beth Glossman purchased 2,000 shares of the stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $23.07 per share, with a total value of $46,140.00. Following the completion of the acquisition, the director now owns 26,892 shares in the company, valued at $620,398.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 30.10% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Susquehanna International Group LLP acquired a new position in shares of Live Oak Bancshares in the second quarter worth about $1,623,000. State Street Corp raised its position in shares of Live Oak Bancshares by 10.3% in the second quarter. State Street Corp now owns 354,407 shares of the bank’s stock worth $8,579,000 after acquiring an additional 33,082 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Live Oak Bancshares by 107.0% in the second quarter. Goldman Sachs Group Inc. now owns 163,987 shares of the bank’s stock worth $3,968,000 after acquiring an additional 84,748 shares during the period. Voya Investment Management LLC raised its position in shares of Live Oak Bancshares by 12.5% in the second quarter. Voya Investment Management LLC now owns 11,703 shares of the bank’s stock worth $283,000 after acquiring an additional 1,303 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Live Oak Bancshares in the second quarter worth about $523,000. 37.47% of the stock is currently owned by institutional investors.
About Live Oak Bancshares
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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