Shares of Live Oak Bancshares Inc (NASDAQ:LOB) have received an average rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $26.50.
A number of equities research analysts recently issued reports on LOB shares. BidaskClub downgraded Live Oak Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, May 12th. Zacks Investment Research downgraded Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, Sandler O’Neill downgraded 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.
Shares of LOB stock opened at $30.05 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.64 and a debt-to-equity ratio of 0.01. Live Oak Bancshares has a 52-week low of $20.75 and a 52-week high of $32.95. The firm has a market capitalization of $1.21 billion, a P/E ratio of 24.04 and a beta of 0.12.
Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, July 25th. The bank reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. Live Oak Bancshares had a return on equity of 13.41% and a net margin of 35.16%. The company had revenue of $57.66 million for the quarter, compared to the consensus estimate of $59.31 million. analysts predict that Live Oak Bancshares will post 1.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 25th. Investors of record on Tuesday, September 11th will be given a $0.03 dividend. The ex-dividend date is Monday, September 10th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.40%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 9.60%.
In other news, Vice Chairman William L. Williams III bought 35,000 shares of Live Oak Bancshares stock in a transaction that occurred on Monday, July 30th. The shares were acquired at an average price of $28.27 per share, with a total value of $989,450.00. Following the completion of the purchase, the insider now directly owns 28,100 shares in the company, valued at $794,387. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO S. Brett Caines sold 3,355 shares of the stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $29.81, for a total value of $100,012.55. Following the completion of the transaction, the chief financial officer now directly owns 274,040 shares in the company, valued at approximately $8,169,132.40. The disclosure for this sale can be found here. In the last quarter, insiders purchased 75,700 shares of company stock worth $2,187,536 and sold 27,310 shares worth $799,996. Company insiders own 25.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its stake in Live Oak Bancshares by 45.1% in the first quarter. Citigroup Inc. now owns 5,550 shares of the bank’s stock valued at $154,000 after acquiring an additional 1,724 shares during the last quarter. ZWJ Investment Counsel Inc. bought a new position in Live Oak Bancshares in the second quarter valued at $215,000. Arbor Investment Advisors LLC bought a new position in Live Oak Bancshares in the second quarter valued at $221,000. Element Capital Management LLC bought a new position in Live Oak Bancshares in the first quarter valued at $202,000. Finally, UBS Group AG increased its stake in Live Oak Bancshares by 440.3% in the first quarter. UBS Group AG now owns 7,315 shares of the bank’s stock valued at $204,000 after acquiring an additional 5,961 shares during the last quarter. 44.29% of the stock is currently owned by institutional investors and hedge funds.
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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