SunTrust Banks Comments on Live Oak Bancshares, Inc.’s FY2019 Earnings (LOB)
Live Oak Bancshares, Inc. (NASDAQ:LOB) – Stock analysts at SunTrust Banks issued their FY2019 earnings per share estimates for shares of Live Oak Bancshares in a report issued on Monday. SunTrust Banks analyst J. Demba anticipates that the bank will post earnings of $1.57 per share for the year. SunTrust Banks currently has a “Buy” rating and a $27.00 target price on the stock.
Several other brokerages have also recently weighed in on LOB. Zacks Investment Research cut shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th. BidaskClub cut shares of Live Oak Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Sandler O’Neill upgraded shares of Live Oak Bancshares from a “hold” rating to a “buy” rating and cut their price objective for the company from $25.00 to $24.00 in a report on Wednesday, September 6th. Keefe, Bruyette & Woods initiated coverage on shares of Live Oak Bancshares in a report on Monday, October 16th. They issued a “market perform” rating and a $26.00 price objective on the stock. Finally, TheStreet upgraded shares of Live Oak Bancshares from a “c+” rating to a “b” rating in a report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $26.50.
Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, October 25th. The bank reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.14. The firm had revenue of $46.09 million during the quarter, compared to analyst estimates of $42.56 million. Live Oak Bancshares had a net margin of 17.68% and a return on equity of 13.60%.
Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Live Oak Bancshares by 3.5% during the 1st quarter. Bank of America Corp DE now owns 5,468 shares of the bank’s stock valued at $118,000 after purchasing an additional 185 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Live Oak Bancshares during the 3rd quarter worth approximately $183,000. California Public Employees Retirement System bought a new stake in Live Oak Bancshares during the 1st quarter worth approximately $223,000. Credit Suisse AG grew its holdings in Live Oak Bancshares by 2.0% during the 1st quarter. Credit Suisse AG now owns 10,677 shares of the bank’s stock worth $231,000 after acquiring an additional 207 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in Live Oak Bancshares by 12.5% during the 2nd 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 last quarter. 40.98% of the stock is currently owned by institutional investors.
In other Live Oak Bancshares news, Director Glen F. Hoffsis acquired 1,400 shares of the company’s stock in a transaction on Friday, November 10th. The stock was acquired at an average price of $23.50 per share, for a total transaction of $32,900.00. Following the purchase, the director now directly owns 85,382 shares of the company’s stock, valued at $2,006,477. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 30.10% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Shareholders of record on Monday, November 13th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, November 10th. Live Oak Bancshares’s dividend payout ratio (DPR) is 12.90%.
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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