Live Oak Bancshares’ (LOB) “Buy” Rating Reaffirmed at SunTrust Banks, Inc.
Live Oak Bancshares, Inc. (NASDAQ:LOB)‘s stock had its “buy” rating reissued by investment analysts at SunTrust Banks, Inc. in a report released on Thursday. They currently have a $27.00 price target on the bank’s stock. SunTrust Banks, Inc.’s price target indicates a potential upside of 12.03% from the company’s previous close.
Several other research firms have also commented on LOB. Zacks Investment Research lowered Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. TheStreet upgraded Live Oak Bancshares from a “c” rating to a “b-” rating in a research note on Monday, July 24th. BidaskClub upgraded Live Oak Bancshares from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Sandler O’Neill upgraded Live Oak Bancshares from a “hold” rating to a “buy” rating and dropped their target price for the company from $25.00 to $24.00 in a research note on Wednesday, September 6th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Live Oak Bancshares currently has a consensus rating of “Buy” and an average price target of $26.67.
Live Oak Bancshares (NASDAQ:LOB) traded down 0.41% during trading on Thursday, hitting $24.10. The stock had a trading volume of 30,929 shares. Live Oak Bancshares has a one year low of $14.05 and a one year high of $26.05. The stock’s 50-day moving average is $22.92 and its 200 day moving average is $22.92. The firm has a market cap of $835.40 million, a price-to-earnings ratio of 34.83 and a beta of -0.09.
Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, July 26th. The bank reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The firm had revenue of $45.06 million during the quarter, compared to analyst estimates of $45.92 million. Live Oak Bancshares had a return on equity of 11.50% and a net margin of 13.71%. Equities analysts anticipate that Live Oak Bancshares will post $0.88 earnings per share for the current year.
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In other Live Oak Bancshares news, Director Diane Beth Glossman bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $23.07 per share, for a total transaction of $46,140.00. Following the completion of the purchase, the director now owns 26,892 shares of the company’s stock, valued at approximately $620,398.44. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 30.10% of the company’s stock.
A number of large investors have recently made changes to their positions in LOB. US Bancorp DE increased its stake in Live Oak Bancshares by 77.5% during the first quarter. US Bancorp DE now owns 4,614 shares of the bank’s stock worth $100,000 after acquiring an additional 2,014 shares during the last quarter. Bank of America Corp DE increased its stake in Live Oak Bancshares by 3.5% during the first quarter. Bank of America Corp DE now owns 5,468 shares of the bank’s stock worth $118,000 after acquiring an additional 185 shares during the last quarter. California Public Employees Retirement System acquired a new stake in Live Oak Bancshares during the first quarter worth about $223,000. Profit Investment Management LLC acquired a new stake in Live Oak Bancshares during the second quarter worth about $226,000. Finally, Credit Suisse AG increased its stake in Live Oak Bancshares by 2.0% during the first quarter. Credit Suisse AG now owns 10,677 shares of the bank’s stock worth $231,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 37.47% of the company’s stock.
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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