Live Oak Bancshares (NASDAQ:LOB) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.
A number of other brokerages have also recently commented on LOB. Zacks Investment Research raised shares of Live Oak Bancshares from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Tuesday, January 30th. TheStreet raised shares of Live Oak Bancshares from a “c” rating to a “b” rating in a report on Monday, February 26th. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $30.00 target price on shares of Live Oak Bancshares in a report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $28.25.
Shares of Live Oak Bancshares stock opened at $28.25 on Thursday. Live Oak Bancshares has a 1 year low of $20.40 and a 1 year high of $30.05. The firm has a market cap of $1,176.53, a price-to-earnings ratio of 24.54 and a beta of 0.23. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.06.
Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.16. Live Oak Bancshares had a net margin of 36.36% and a return on equity of 14.71%. The firm had revenue of $118.42 million during the quarter, compared to analysts’ expectations of $114.39 million. equities analysts predict that Live Oak Bancshares will post 1.25 EPS for the current year.
In other news, CFO S. Brett Caines sold 7,532 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $26.55, for a total value of $199,974.60. Following the completion of the sale, the chief financial officer now directly owns 434,640 shares of the company’s stock, valued at $11,539,692. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 93,914 shares of company stock valued at $2,499,843 over the last ninety days. Corporate insiders own 30.10% of the company’s stock.
Several large investors have recently made changes to their positions in LOB. Millennium Management LLC purchased a new stake in shares of Live Oak Bancshares in the fourth quarter valued at about $6,321,000. Stieven Capital Advisors L.P. acquired a new position in shares of Live Oak Bancshares during the third quarter worth about $5,709,000. Jacobs Asset Management LLC acquired a new position in shares of Live Oak Bancshares during the third quarter worth about $3,588,000. West Chester Capital Advisors Inc. acquired a new position in shares of Live Oak Bancshares during the fourth quarter worth about $2,841,000. Finally, Emerald Advisers Inc. PA increased its stake in shares of Live Oak Bancshares by 14.1% during the fourth quarter. Emerald Advisers Inc. PA now owns 465,972 shares of the bank’s stock worth $11,113,000 after acquiring an additional 57,750 shares during the period. 40.44% of the stock is owned by institutional investors and hedge funds.
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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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