Live Oak Bancshares, Inc. (NASDAQ:LOB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Live Oak Bancshares Inc. is the parent and registered bank holding company of Live Oak Banking Company which offers online platform for small business lending. The company accepts deposit products as well as offers loans which comprise small business administration loans; conventional commercial business loans to small and medium sized businesses and construction loans. It offers loans to the veterinary, pharmacy, investment advisory, beverages, funeral homes, entertainment centers, agricultural and healthcare sectors. Live Oak Bancshares Inc. is headquartered in Wilmington, North Carolina. “

Several other brokerages have also commented on LOB. TheStreet raised Live Oak Bancshares from a “c” rating to a “b-” rating in a research report on Monday, July 24th. BidaskClub raised Live Oak Bancshares from a “hold” rating to a “buy” rating in a research report on Tuesday, October 10th. SunTrust Banks, Inc. reissued a “buy” rating and set a $27.00 price objective on shares of Live Oak Bancshares in a research report on Thursday, October 12th. Keefe, Bruyette & Woods assumed coverage on Live Oak Bancshares in a research report on Monday, October 16th. They set a “market perform” rating and a $26.00 price objective for the company. Finally, Sandler O’Neill raised Live Oak Bancshares from a “hold” rating to a “buy” rating and lowered their price objective for the company from $25.00 to $24.00 in a research report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Live Oak Bancshares has an average rating of “Hold” and an average target price of $26.50.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.20 by $0.14. The business had revenue of $46.09 million during the quarter, compared to analyst estimates of $42.56 million. Live Oak Bancshares had a return on equity of 15.61% and a net margin of 17.68%.

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In related news, Director Diane Beth Glossman purchased 2,000 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $23.07 per share, with a total value of $46,140.00. Following the transaction, the director now directly owns 26,892 shares in the company, valued at $620,398.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 30.10% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of LOB. Emerald Advisers Inc. PA purchased a new position in shares of Live Oak Bancshares in the 3rd quarter worth about $9,573,000. Emerald Mutual Fund Advisers Trust raised its position in shares of Live Oak Bancshares by 159.9% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 602,548 shares of the bank’s stock worth $14,130,000 after purchasing an additional 370,698 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Live Oak Bancshares in the 3rd quarter worth about $8,443,000. Goldman Sachs Group Inc. raised its position in shares of Live Oak Bancshares by 107.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 163,987 shares of the bank’s stock worth $3,968,000 after purchasing an additional 84,748 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new position in shares of Live Oak Bancshares in the 2nd quarter worth about $1,623,000. 32.42% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Company Profile

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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