Live Oak Bancshares Inc (NASDAQ:LOB) has received an average rating of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $26.50.
A number of equities analysts have commented on the stock. Sandler O’Neill lowered shares of Live Oak Bancshares from a “buy” rating to a “hold” rating in a report on Monday, July 9th. They noted that the move was a valuation call. BidaskClub upgraded shares of Live Oak Bancshares from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 7th. Finally, Zacks Investment Research lowered shares of Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 27th.
In other news, CFO S. Brett Caines sold 3,573 shares of the company’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $27.99, for a total value of $100,008.27. Following the sale, the chief financial officer now owns 294,454 shares in the company, valued at approximately $8,241,767.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman William L. Williams III bought 35,000 shares of the business’s stock in a transaction dated Monday, July 30th. The stock was bought at an average price of $28.27 per share, for a total transaction of $989,450.00. Following the purchase, the insider now owns 28,100 shares in the company, valued at approximately $794,387. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 27,310 shares of company stock worth $799,996. Company insiders own 25.70% of the company’s stock.
Several institutional investors have recently modified their holdings of LOB. Citigroup Inc. grew its position in shares of Live Oak Bancshares by 45.1% during the 1st quarter. Citigroup Inc. now owns 5,550 shares of the bank’s stock valued at $154,000 after buying an additional 1,724 shares during the last quarter. Element Capital Management LLC bought a new stake in shares of Live Oak Bancshares during the 1st quarter valued at about $202,000. UBS Group AG grew its position in shares of Live Oak Bancshares by 440.3% during the 1st quarter. UBS Group AG now owns 7,315 shares of the bank’s stock valued at $204,000 after buying an additional 5,961 shares during the last quarter. ZWJ Investment Counsel Inc. bought a new stake in shares of Live Oak Bancshares during the 2nd quarter valued at about $215,000. Finally, Arbor Investment Advisors LLC bought a new stake in shares of Live Oak Bancshares during the 2nd quarter valued at about $221,000. Institutional investors and hedge funds own 44.29% of the company’s stock.
LOB stock traded down $0.15 during trading on Thursday, reaching $28.35. The stock had a trading volume of 74,400 shares, compared to its average volume of 130,611. Live Oak Bancshares has a 1-year low of $21.35 and a 1-year high of $32.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.90 and a quick ratio of 0.64. The firm has a market capitalization of $1.18 billion, a P/E ratio of 22.56 and a beta of 0.13.
Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, July 25th. The bank reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Live Oak Bancshares had a net margin of 35.16% and a return on equity of 13.41%. The firm had revenue of $57.66 million for the quarter, compared to analyst estimates of $59.31 million. sell-side analysts anticipate that Live Oak Bancshares will post 1.38 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 25th. Stockholders of record on Tuesday, September 11th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, September 10th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.42%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 9.60%.
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc operates as the bank holding company for the Live Oak Banking Company that provides various commercial banking products and services to individuals and businesses in North Carolina. The company accepts various deposit products, including noninterest-bearing demand, interest-bearing checking, money market, saving, and time deposits.
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