Shares of Live Oak Bancshares Inc. (NASDAQ:LOB) have received an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Analysts have set a twelve-month consensus target price of $16.50 for the company and are forecasting that the company will post $0.07 EPS for the current quarter, according to Zacks. Zacks has also given Live Oak Bancshares an industry rank of 87 out of 265 based on the ratings given to its competitors.
LOB has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Live Oak Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Sandler O’Neill downgraded Live Oak Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, June 2nd. Finally, Keefe, Bruyette & Woods dropped their price target on Live Oak Bancshares from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, July 29th.
Live Oak Bancshares (NASDAQ:LOB) opened at 14.11 on Tuesday. The company has a market capitalization of $482.65 million, a PE ratio of 35.99 and a beta of -0.53. Live Oak Bancshares has a 12-month low of $12.10 and a 12-month high of $20.24. The firm’s 50 day moving average price is $13.96 and its 200-day moving average price is $14.57.
Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.08. Live Oak Bancshares had a net margin of 10.45% and a return on equity of 8.54%. On average, equities analysts anticipate that Live Oak Bancshares will post $0.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were given a $0.02 dividend. This is an increase from Live Oak Bancshares’s previous quarterly dividend of $0.01. The ex-dividend date was Tuesday, August 30th. This represents a $0.08 dividend on an annualized basis and a yield of 0.57%. Live Oak Bancshares’s payout ratio is presently 21.05%.
Hedge funds have recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. increased its stake in Live Oak Bancshares by 26.3% in the first quarter. Carroll Financial Associates Inc. now owns 129,350 shares of the company’s stock worth $1,940,000 after buying an additional 26,950 shares during the last quarter. 1st Global Advisors Inc. purchased a new stake in Live Oak Bancshares during the second quarter worth $142,000. State Street Corp increased its stake in Live Oak Bancshares by 13.6% in the first quarter. State Street Corp now owns 50,880 shares of the company’s stock worth $766,000 after buying an additional 6,086 shares during the last quarter. RMB Capital Management LLC increased its stake in Live Oak Bancshares by 82.5% in the first quarter. RMB Capital Management LLC now owns 174,257 shares of the company’s stock worth $2,614,000 after buying an additional 78,767 shares during the last quarter. Finally, Mendon Capital Advisors Corp increased its stake in Live Oak Bancshares by 42.6% in the first quarter. Mendon Capital Advisors Corp now owns 531,200 shares of the company’s stock worth $7,968,000 after buying an additional 158,820 shares during the last quarter. Institutional investors own 33.82% of the company’s stock.
About Live Oak Bancshares
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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