Live Oak Bancshares (NYSE:LOB) Trading Up 9.6% Following Earnings Beat

Shares of Live Oak Bancshares, Inc. (NYSE:LOB) traded up 9.6% during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $42.89 and last traded at $42.76. 145,891 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 298,717 shares. The stock had previously closed at $39.00.

The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.39. The company had revenue of $161.86 million for the quarter. Live Oak Bancshares had a return on equity of 6.61% and a net margin of 6.94%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Live Oak Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. TD Cowen raised Live Oak Bancshares to a “strong-buy” rating in a report on Thursday, September 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Live Oak Bancshares in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Live Oak Bancshares currently has an average rating of “Moderate Buy”.

Live Oak Bancshares Price Performance

The business has a fifty day moving average price of $34.32. The firm has a market cap of $1.94 billion, a P/E ratio of 28.42 and a beta of 2.02.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is a bank holding company headquartered in Wilmington, North Carolina, and operates through its subsidiary Live Oak Banking Company. Founded in 2008, the company leverages a branchless, technology-driven platform to deliver specialty lending and deposit products across the United States. Live Oak Bancshares completed its initial public offering in February 2018 and trades on the NYSE under the ticker symbol LOB.

The company’s primary focus is on originating and servicing commercial loans for small businesses in select industry verticals.