BidaskClub upgraded shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) from a hold rating to a buy rating in a research note published on Tuesday.
A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded Live Oak Bancshares from a buy rating to a hold rating in a research report on Wednesday, July 12th. Sandler O’Neill upgraded Live Oak Bancshares from a hold rating to a buy rating and dropped their target price for the stock from $25.00 to $24.00 in a research report on Wednesday, September 6th. Finally, TheStreet upgraded Live Oak Bancshares from a c rating to a b- rating in a research report on Monday, July 24th.
Live Oak Bancshares (NASDAQ:LOB) opened at 24.40 on Tuesday. The company has a market cap of $845.80 million, a price-to-earnings ratio of 35.26 and a beta of -0.09. Live Oak Bancshares has a one year low of $14.05 and a one year high of $24.59. The company has a 50-day moving average of $22.86 and a 200-day moving average of $22.86.
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 company had revenue of $45.06 million during the quarter, compared to the consensus estimate of $45.92 million. Live Oak Bancshares had a return on equity of 11.50% and a net margin of 13.71%. Equities research analysts expect that Live Oak Bancshares will post $0.88 EPS for the current fiscal year.
In related news, Director Diane Beth Glossman acquired 2,000 shares of the stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $23.07 per share, for a total transaction of $46,140.00. Following the completion of the transaction, the director now owns 26,892 shares of the company’s stock, valued at approximately $620,398.44. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 30.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in LOB. US Bancorp DE lifted its position in Live Oak Bancshares by 77.5% in the first quarter. US Bancorp DE now owns 4,614 shares of the bank’s stock valued at $100,000 after purchasing an additional 2,014 shares during the last quarter. Bank of America Corp DE lifted its position in Live Oak Bancshares by 3.5% in the first quarter. Bank of America Corp DE now owns 5,468 shares of the bank’s stock valued at $118,000 after purchasing an additional 185 shares during the last quarter. California Public Employees Retirement System bought a new stake in Live Oak Bancshares in the first quarter valued at approximately $223,000. Profit Investment Management LLC bought a new stake in Live Oak Bancshares in the second quarter valued at approximately $226,000. Finally, Credit Suisse AG lifted its position in Live Oak Bancshares by 2.0% in the first quarter. Credit Suisse AG now owns 10,677 shares of the bank’s stock valued at $231,000 after purchasing an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 37.47% of the company’s stock.
About Live Oak Bancshares
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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