Sandler O’Neill upgraded shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) from a hold rating to a buy rating in a research report released on Wednesday morning, Marketbeat.com reports. Sandler O’Neill currently has $24.00 target price on the bank’s stock, down from their prior target price of $25.00.
Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Live Oak Bancshares from a hold rating to a sell rating in a research report on Tuesday, August 15th. TheStreet raised shares of Live Oak Bancshares from a c rating to a b- rating in a research report on Monday, July 24th. Finally, BidaskClub downgraded shares of Live Oak Bancshares from a hold rating to a sell rating in a research report on Tuesday, August 22nd.
Live Oak Bancshares (NASDAQ LOB) opened at 21.20 on Wednesday. Live Oak Bancshares has a 1-year low of $13.78 and a 1-year high of $26.05. The company has a market capitalization of $734.88 million, a price-to-earnings ratio of 30.64 and a beta of -0.11. The firm has a 50 day moving average of $23.33 and a 200-day moving average of $23.46.
Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, July 26th. The bank reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.04. The firm had revenue of $45.06 million for the quarter, compared to the consensus estimate of $45.92 million. Live Oak Bancshares had a net margin of 13.71% and a return on equity of 11.50%. On average, equities research analysts anticipate that Live Oak Bancshares will post $0.88 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This is an increase from Live Oak Bancshares’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.57%. Live Oak Bancshares’s dividend payout ratio is currently 17.14%.
In other news, Director Diane Beth Glossman purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $23.07 per share, for a total transaction of $46,140.00. Following the purchase, the director now directly owns 26,892 shares in the company, valued at approximately $620,398.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 30.10% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new position in Live Oak Bancshares in the 1st quarter worth about $1,716,000. American International Group Inc. boosted its stake in Live Oak Bancshares by 7.0% in the 1st quarter. American International Group Inc. now owns 12,038 shares of the bank’s stock worth $261,000 after purchasing an additional 791 shares in the last quarter. Vanguard Group Inc. boosted its stake in Live Oak Bancshares by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 845,950 shares of the bank’s stock worth $18,315,000 after purchasing an additional 65,115 shares in the last quarter. Profit Investment Management LLC bought a new position in Live Oak Bancshares in the 2nd quarter worth about $226,000. Finally, Bank of New York Mellon Corp boosted its stake in Live Oak Bancshares by 11.3% in the 1st quarter. Bank of New York Mellon Corp now owns 111,565 shares of the bank’s stock worth $2,416,000 after purchasing an additional 11,369 shares in the last quarter. Institutional investors own 37.84% of the company’s stock.
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc is a bank holding company. The Company conducts business operations primarily through its commercial bank subsidiary, Live Oak Banking Company (the Bank). The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The loans originated by the Bank are guaranteed by the small business administration (SBA).
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