BidaskClub Upgrades Live Oak Bancshares (LOB) to “Sell”

Live Oak Bancshares (NASDAQ:LOB) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Monday, February 4th.

LOB has been the topic of a number of other research reports. ValuEngine downgraded Live Oak Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research downgraded Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, October 31st. TheStreet downgraded Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Friday, December 14th. SunTrust Banks downgraded Live Oak Bancshares from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $23.00 to $15.00 in a research note on Tuesday, December 11th. Finally, Sandler O’Neill raised Live Oak Bancshares from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Wednesday, December 12th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $22.00.

NASDAQ LOB opened at $16.26 on Monday. Live Oak Bancshares has a one year low of $13.09 and a one year high of $32.95. The company has a market cap of $666.42 million, a P/E ratio of 12.32 and a beta of 0.80.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, January 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.14. The firm had revenue of $46.86 million for the quarter, compared to the consensus estimate of $48.76 million. Live Oak Bancshares had a return on equity of 11.79% and a net margin of 19.31%. On average, analysts anticipate that Live Oak Bancshares will post 0.26 earnings per share for the current year.

In other Live Oak Bancshares news, Director H K. Landis purchased 2,000 shares of Live Oak Bancshares stock in a transaction that occurred on Wednesday, December 12th. The stock was acquired at an average price of $14.13 per share, for a total transaction of $28,260.00. Following the completion of the acquisition, the director now owns 195,310 shares of the company’s stock, valued at approximately $2,759,730.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James S. Mahan III purchased 334,454 shares of Live Oak Bancshares stock in a transaction that occurred on Wednesday, December 12th. The shares were acquired at an average price of $16.08 per share, with a total value of $5,378,020.32. The disclosure for this purchase can be found here. Insiders bought a total of 435,853 shares of company stock valued at $6,867,756 in the last 90 days. 25.70% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Live Oak Bancshares by 14.5% during the second quarter. BlackRock Inc. now owns 1,608,387 shares of the bank’s stock worth $49,297,000 after acquiring an additional 204,144 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Live Oak Bancshares by 88.8% during the second quarter. Dimensional Fund Advisors LP now owns 323,513 shares of the bank’s stock worth $9,916,000 after acquiring an additional 152,183 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Live Oak Bancshares by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 144,912 shares of the bank’s stock worth $4,442,000 after acquiring an additional 9,652 shares during the last quarter. Northern Trust Corp lifted its position in Live Oak Bancshares by 5.9% during the second quarter. Northern Trust Corp now owns 296,123 shares of the bank’s stock worth $9,076,000 after acquiring an additional 16,407 shares during the last quarter. Finally, United Capital Management of KS Inc. acquired a new stake in Live Oak Bancshares during the third quarter worth approximately $830,000. Institutional investors and hedge funds own 46.75% of the company’s stock.

About Live Oak Bancshares

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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