Live Oak Bancshares Inc. (NASDAQ:LOB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
A number of other brokerages have also recently weighed in on LOB. Sandler O’Neill lowered shares of Live Oak Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, June 2nd. Keefe, Bruyette & Woods dropped their target price on shares of Live Oak Bancshares from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, July 29th.
Live Oak Bancshares (NASDAQ:LOB) traded down 0.21% on Wednesday, hitting $14.30. 53,422 shares of the stock were exchanged. Live Oak Bancshares has a 1-year low of $12.10 and a 1-year high of $19.90. The stock has a market cap of $489.15 million, a PE ratio of 36.48 and a beta of -0.53. The company’s 50 day moving average is $14.07 and its 200 day moving average is $14.61.
Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.08. Live Oak Bancshares had a return on equity of 8.54% and a net margin of 10.45%. On average, equities research analysts expect that Live Oak Bancshares will post $0.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were given 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%.
Institutional investors have recently made changes to their positions in the company. Nationwide Fund Advisors raised its stake 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 acquired a new stake in shares of Live Oak Bancshares during the second quarter valued at about $411,000. Emerald Acquisition Ltd. acquired a new stake in shares of Live Oak Bancshares during the second quarter valued at about $142,000. Swiss National Bank raised its stake in shares of 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 period. Finally, California State Teachers Retirement System raised its stake in shares of 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 period. 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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