Live Oak Bancshares Inc (NASDAQ:LOB) has earned an average rating of “Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $28.00.
A number of research analysts recently issued reports on LOB shares. BidaskClub upgraded shares of Live Oak Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, March 3rd. Zacks Investment Research upgraded shares of Live Oak Bancshares from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, January 30th. TheStreet upgraded shares of Live Oak Bancshares from a “c” rating to a “b” rating in a research note on Monday, February 26th. Finally, Sandler O’Neill restated a “buy” rating and set a $30.00 price target on shares of Live Oak Bancshares in a research note on Thursday, January 25th.
In other Live Oak Bancshares news, CFO S. Brett Caines sold 7,429 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $26.92, for a total transaction of $199,988.68. Following the completion of the sale, the chief financial officer now owns 423,384 shares in the company, valued at approximately $11,397,497.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 93,914 shares of company stock valued at $2,499,843 in the last 90 days. 30.10% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas bought a new stake in shares of Live Oak Bancshares in the 4th quarter worth $222,000. MetLife Investment Advisors LLC bought a new stake in shares of Live Oak Bancshares in the 4th quarter worth $248,000. BB&T Securities LLC bought a new stake in shares of Live Oak Bancshares in the 4th quarter worth $277,000. Citadel Advisors LLC bought a new stake in shares of Live Oak Bancshares in the 4th quarter worth $323,000. Finally, American International Group Inc. grew its stake in shares of Live Oak Bancshares by 18.5% in the 4th quarter. American International Group Inc. now owns 15,701 shares of the bank’s stock worth $374,000 after acquiring an additional 2,446 shares in the last quarter. Institutional investors and hedge funds own 40.36% of the company’s stock.
Live Oak Bancshares stock opened at $28.50 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.02. Live Oak Bancshares has a 12-month low of $20.75 and a 12-month high of $30.05. The firm has a market cap of $1,138.58, a P/E ratio of 22.80 and a beta of 0.16.
Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, January 24th. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.16. Live Oak Bancshares had a net margin of 36.36% and a return on equity of 14.71%. The company had revenue of $118.42 million for the quarter, compared to the consensus estimate of $114.39 million. equities research analysts expect that Live Oak Bancshares will post 1.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.03 per share. The ex-dividend date was Friday, February 23rd. This represents a $0.12 dividend on an annualized basis and a yield of 0.42%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 9.60%.
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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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