Live Oak Bancshares (LOB) Downgraded to Hold at BidaskClub

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BidaskClub lowered shares of Live Oak Bancshares (NASDAQ:LOB) from a buy rating to a hold rating in a report published on Saturday.

A number of other brokerages have also commented on LOB. Sandler O’Neill lowered Live Oak Bancshares from a buy rating to a hold rating in a research report on Monday, July 9th. They noted that the move was a valuation call. Zacks Investment Research lowered Live Oak Bancshares from a strong-buy rating to a hold rating in a research report on Wednesday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $29.25.

Shares of LOB opened at $29.60 on Friday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 23.68 and a beta of 0.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.64 and a current ratio of 0.90. Live Oak Bancshares has a 52 week low of $20.75 and a 52 week high of $32.95.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data on Wednesday, July 25th. The bank reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.03. The firm had revenue of $57.66 million for the quarter, compared to analyst estimates of $59.31 million. Live Oak Bancshares had a return on equity of 13.41% and a net margin of 35.16%. analysts forecast that Live Oak Bancshares will post 1.38 EPS for the current year.

In other news, CFO S. Brett Caines sold 3,355 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $29.81, for a total value of $100,012.55. Following the transaction, the chief financial officer now owns 274,040 shares of the company’s stock, valued at approximately $8,169,132.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James S. Mahan III purchased 40,200 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was bought at an average cost of $29.43 per share, for a total transaction of $1,183,086.00. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 75,700 shares of company stock worth $2,187,536 and sold 35,310 shares worth $1,036,396. 25.70% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of LOB. Citigroup Inc. lifted its stake in shares of Live Oak Bancshares by 45.1% in the 1st quarter. Citigroup Inc. now owns 5,550 shares of the bank’s stock valued at $154,000 after purchasing an additional 1,724 shares during the period. Element Capital Management LLC acquired a new position in shares of Live Oak Bancshares in the 1st quarter valued at $202,000. UBS Group AG lifted its stake in shares of Live Oak Bancshares by 440.3% in the 1st quarter. UBS Group AG now owns 7,315 shares of the bank’s stock valued at $204,000 after purchasing an additional 5,961 shares during the period. ZWJ Investment Counsel Inc. acquired a new position in shares of Live Oak Bancshares in the 2nd quarter valued at $215,000. Finally, Arbor Investment Advisors LLC acquired a new position in shares of Live Oak Bancshares in the 2nd quarter valued at $221,000. 42.91% of the stock is currently owned by institutional investors.

Live Oak Bancshares Company Profile

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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