Live Oak Bancshares (NASDAQ:LOB) Upgraded at BidaskClub

BidaskClub upgraded shares of Live Oak Bancshares (NASDAQ:LOB) from a sell rating to a hold rating in a research note issued to investors on Wednesday, BidAskClub reports.

Other equities research analysts have also issued reports about the company. TheStreet lowered Live Oak Bancshares from a b rating to a c+ rating in a research report on Friday, August 16th. ValuEngine raised Live Oak Bancshares from a buy rating to a strong-buy rating in a research report on Friday, November 1st. Finally, Zacks Investment Research lowered Live Oak Bancshares from a hold rating to a sell rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $18.67.

Shares of NASDAQ:LOB traded up $0.03 during trading on Wednesday, hitting $18.30. 107,100 shares of the company’s stock were exchanged, compared to its average volume of 199,437. Live Oak Bancshares has a 52-week low of $13.09 and a 52-week high of $20.46. The company has a market cap of $735.06 million, a price-to-earnings ratio of 13.86 and a beta of 1.07. The business’s 50-day simple moving average is $18.21 and its 200 day simple moving average is $17.61.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.06). The business had revenue of $56.16 million for the quarter, compared to the consensus estimate of $50.65 million. Live Oak Bancshares had a return on equity of 4.50% and a net margin of 7.88%. Research analysts expect that Live Oak Bancshares will post 0.43 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Live Oak Bancshares by 100.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,741 shares of the bank’s stock worth $32,000 after acquiring an additional 873 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Live Oak Bancshares by 121.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,496 shares of the bank’s stock valued at $43,000 after purchasing an additional 1,368 shares in the last quarter. Bank of Montreal Can grew its position in shares of Live Oak Bancshares by 367.1% in the second quarter. Bank of Montreal Can now owns 2,681 shares of the bank’s stock valued at $46,000 after purchasing an additional 2,107 shares in the last quarter. Griffin Asset Management Inc. purchased a new stake in shares of Live Oak Bancshares in the second quarter valued at approximately $69,000. Finally, Synovus Financial Corp purchased a new stake in shares of Live Oak Bancshares in the third quarter valued at approximately $100,000. 42.96% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Company Profile

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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