Live Oak Bancshares (NASDAQ:LOB) Releases Earnings Results

Live Oak Bancshares (NASDAQ:LOB) announced its quarterly earnings results on Wednesday. The bank reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25), Yahoo Finance reports. The company had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. During the same period in the previous year, the firm posted $0.88 earnings per share.

Live Oak Bancshares Stock Down 5.2 %

Shares of NASDAQ LOB traded down $2.18 during midday trading on Friday, hitting $39.65. The company had a trading volume of 261,905 shares, compared to its average volume of 177,901. Live Oak Bancshares has a twelve month low of $27.79 and a twelve month high of $50.57. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 18.08 and a beta of 1.60. The business has a 50-day simple moving average of $45.11 and a two-hundred day simple moving average of $39.58.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Tuesday, September 3rd. Live Oak Bancshares’s payout ratio is 5.48%.

Insider Buying and Selling

In other news, CAO John W. Sutherland sold 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $43.00, for a total value of $860,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 26,603 shares of the company’s stock, valued at $1,143,929. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 23.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LOB. Truist Financial lifted their target price on shares of Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Piper Sandler lowered their price target on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.25.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.