Live Oak Bancshares Inc (NASDAQ:LOB) Receives Average Rating of “Buy” from Brokerages

Shares of Live Oak Bancshares Inc (NASDAQ:LOB) have been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $18.67.

LOB has been the subject of several recent analyst reports. ValuEngine raised shares of Live Oak Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. TheStreet lowered shares of Live Oak Bancshares from a “b” rating to a “c+” rating in a report on Friday, August 16th. Zacks Investment Research raised shares of Live Oak Bancshares from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a report on Wednesday, July 31st. Finally, BidaskClub lowered shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, August 10th.

A number of hedge funds have recently made changes to their positions in LOB. Tower Research Capital LLC TRC lifted its position in shares of Live Oak Bancshares by 121.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,496 shares of the bank’s stock worth $43,000 after buying an additional 1,368 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Live Oak Bancshares by 367.1% in the 2nd quarter. Bank of Montreal Can now owns 2,681 shares of the bank’s stock worth $46,000 after buying an additional 2,107 shares during the last quarter. Griffin Asset Management Inc. bought a new position in shares of Live Oak Bancshares in the 2nd quarter worth about $69,000. BNP Paribas Arbitrage SA lifted its position in shares of Live Oak Bancshares by 58,766.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,298 shares of the bank’s stock worth $77,000 after buying an additional 5,289 shares during the last quarter. Finally, Aperio Group LLC bought a new position in shares of Live Oak Bancshares in the 2nd quarter worth about $156,000. 45.57% of the stock is owned by institutional investors.

LOB traded down $0.58 during trading hours on Friday, reaching $17.41. 96,983 shares of the stock traded hands, compared to its average volume of 156,526. The firm’s fifty day simple moving average is $17.90 and its two-hundred day simple moving average is $16.55. The company has a market cap of $723.79 million, a price-to-earnings ratio of 13.19 and a beta of 1.05. Live Oak Bancshares has a fifty-two week low of $13.09 and a fifty-two week high of $30.85.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.05. The business had revenue of $48.64 million during the quarter, compared to analyst estimates of $48.56 million. Live Oak Bancshares had a net margin of 12.24% and a return on equity of 7.11%. Analysts predict that Live Oak Bancshares will post 0.56 EPS for the current year.

About Live Oak Bancshares

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. The company accepts various deposit products, including noninterest-bearing demand, interest-bearing checking, money market, savings, and time deposits.

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