Live Oak Bancshares Inc (LOB) Receives Average Rating of “Hold” from Brokerages

Shares of Live Oak Bancshares Inc (NASDAQ:LOB) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $16.50.

A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Live Oak Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 20th. ValuEngine raised shares of Live Oak Bancshares from a “strong sell” rating to a “sell” rating in a research note on Friday, December 7th. BidaskClub lowered shares of Live Oak Bancshares from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Sandler O’Neill raised shares of Live Oak Bancshares from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Wednesday, December 12th. Finally, SunTrust Banks lowered shares of Live Oak Bancshares from a “buy” rating to a “hold” rating and reduced their target price for the stock from $23.00 to $15.00 in a research note on Tuesday, December 11th.

In other Live Oak Bancshares news, Director Diane Beth Glossman bought 2,000 shares of the firm’s stock in a transaction on Monday, January 28th. The shares were purchased at an average price of $13.87 per share, for a total transaction of $27,740.00. Following the transaction, the director now directly owns 30,102 shares in the company, valued at approximately $417,514.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William Henderson Cameron bought 2,500 shares of the firm’s stock in a transaction on Friday, February 8th. The shares were acquired at an average price of $14.79 per share, for a total transaction of $36,975.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 31,665 shares of company stock worth $440,565. Insiders own 25.70% of the company’s stock.

Several large investors have recently made changes to their positions in LOB. Hudock Capital Group LLC bought a new stake in shares of Live Oak Bancshares in the fourth quarter valued at approximately $44,000. Advisors Asset Management Inc. purchased a new stake in Live Oak Bancshares during the 3rd quarter valued at about $107,000. Metropolitan Life Insurance Co. NY grew its position in Live Oak Bancshares by 290.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,503 shares of the bank’s stock valued at $126,000 after purchasing an additional 6,327 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Live Oak Bancshares during the 4th quarter valued at about $169,000. Finally, Principal Financial Group Inc. grew its position in Live Oak Bancshares by 72.4% during the 4th quarter. Principal Financial Group Inc. now owns 14,609 shares of the bank’s stock valued at $216,000 after purchasing an additional 6,133 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Shares of NASDAQ:LOB traded up $0.13 during midday trading on Thursday, hitting $15.19. The company’s stock had a trading volume of 10,037 shares, compared to its average volume of 199,845. The company has a market cap of $604.81 million, a P/E ratio of 11.51 and a beta of 0.85. Live Oak Bancshares has a fifty-two week low of $13.09 and a fifty-two week high of $32.95.

Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, January 23rd. The bank reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.14. Live Oak Bancshares had a return on equity of 11.60% and a net margin of 19.31%. The business had revenue of $46.86 million for the quarter, compared to the consensus estimate of $48.76 million. Research analysts predict that Live Oak Bancshares will post 0.26 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 26th were issued a $0.03 dividend. The ex-dividend date was Monday, February 25th. This represents a $0.12 annualized dividend and a yield of 0.79%. Live Oak Bancshares’s dividend payout ratio is currently 9.09%.

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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