Live Oak Bancshares Inc. (LOB) Receives Average Recommendation of “Buy” from Brokerages
Shares of Live Oak Bancshares Inc. (NASDAQ:LOB) have received a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Analysts have set a one year consensus price objective of $16.50 for the company and are anticipating that the company will post $0.07 EPS for the current quarter, according to Zacks. Zacks has also assigned Live Oak Bancshares an industry rank of 107 out of 265 based on the ratings given to related companies.
Several research firms recently issued reports on LOB. Keefe, Bruyette & Woods lowered their price objective on Live Oak Bancshares from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, July 29th. Zacks Investment Research raised Live Oak Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th.
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Live Oak Bancshares (NASDAQ:LOB) traded up 2.10% during midday trading on Wednesday, hitting $14.60. The company’s stock had a trading volume of 11,554 shares. The company’s 50 day moving average price is $14.37 and its 200 day moving average price is $14.60. Live Oak Bancshares has a 12 month low of $12.10 and a 12 month high of $17.70. The firm has a market cap of $499.41 million, a P/E ratio of 37.24 and a beta of -0.53.
Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.08. Live Oak Bancshares had a net margin of 10.45% and a return on equity of 8.54%. Analysts expect that Live Oak Bancshares will post $0.36 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in LOB. BlackRock Investment Management LLC raised its stake in shares of Live Oak Bancshares by 331.6% in the second quarter. BlackRock Investment Management LLC now owns 73,779 shares of the company’s stock worth $1,041,000 after buying an additional 56,686 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Live Oak Bancshares by 78.2% in the second quarter. Vanguard Group Inc. now owns 149,809 shares of the company’s stock worth $2,114,000 after buying an additional 65,718 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Live Oak Bancshares by 337.8% in the second quarter. Nationwide Fund Advisors now owns 12,417 shares of the company’s stock worth $175,000 after buying an additional 9,581 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Live Oak Bancshares during the second quarter worth $411,000. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Live Oak Bancshares during the second quarter worth $142,000. 33.99% of the stock is currently owned by institutional investors and hedge funds.
About Live Oak Bancshares
Live Oak Bancshares, Inc is the bank holding company for Live Oak Banking Company (the Bank). The Bank is a commercial bank and a national online platform for small business lending. The Company provides certain small businesses across the United States a means to access capital. The Company primarily originates loans partially guaranteed by the United States Small Business Administration (SBA) to small businesses and professionals.
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