Live Oak Bancshares Inc (NASDAQ:LOB) Director William Henderson Cameron purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The shares were acquired at an average cost of $18.42 per share, with a total value of $46,050.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NASDAQ LOB traded down $0.61 during midday trading on Friday, hitting $18.84. The stock had a trading volume of 201,103 shares, compared to its average volume of 356,675. The stock has a market capitalization of $738.13 million, a P/E ratio of 15.07 and a beta of 0.80. Live Oak Bancshares Inc has a fifty-two week low of $18.15 and a fifty-two week high of $32.95. 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 (NASDAQ:LOB) last released its earnings results on Wednesday, October 24th. The bank reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The company had revenue of $52.06 million during the quarter, compared to analysts’ expectations of $58.79 million. Live Oak Bancshares had a return on equity of 13.50% and a net margin of 34.19%. Equities research analysts forecast that Live Oak Bancshares Inc will post 1.34 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on LOB shares. BidaskClub raised Live Oak Bancshares from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 7th. Sandler O’Neill cut Live Oak Bancshares from a “buy” rating to a “hold” rating in a report on Monday, July 9th. They noted that the move was a valuation call. Zacks Investment Research cut Live Oak Bancshares from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 1st. ValuEngine cut Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Finally, SunTrust Banks lowered their target price on Live Oak Bancshares from $32.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $29.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LOB. Wells Fargo & Company MN increased its stake in shares of Live Oak Bancshares by 14.3% in the 1st quarter. Wells Fargo & Company MN now owns 50,610 shares of the bank’s stock valued at $1,407,000 after buying an additional 6,313 shares during the period. Northern Trust Corp increased its stake in shares of Live Oak Bancshares by 2.8% in the 1st quarter. Northern Trust Corp now owns 279,716 shares of the bank’s stock valued at $7,776,000 after buying an additional 7,520 shares during the period. BlackRock Inc. increased its stake in shares of Live Oak Bancshares by 12.6% in the 1st quarter. BlackRock Inc. now owns 1,404,243 shares of the bank’s stock valued at $39,038,000 after buying an additional 157,241 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Live Oak Bancshares by 282.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 171,330 shares of the bank’s stock valued at $4,763,000 after buying an additional 126,583 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Live Oak Bancshares by 545.0% in the 1st quarter. Russell Investments Group Ltd. now owns 30,703 shares of the bank’s stock valued at $853,000 after buying an additional 25,943 shares during the period. 44.30% of the stock is 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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