Live Oak Bancshares, Inc. (NASDAQ:LOB) Expected to Post Quarterly Sales of $106.15 Million

Equities research analysts expect Live Oak Bancshares, Inc. (NASDAQ:LOBGet Rating) to post sales of $106.15 million for the current quarter, Zacks reports. Three analysts have made estimates for Live Oak Bancshares’ earnings, with the highest sales estimate coming in at $107.69 million and the lowest estimate coming in at $103.87 million. Live Oak Bancshares posted sales of $101.01 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Live Oak Bancshares will report full-year sales of $450.53 million for the current year, with estimates ranging from $432.50 million to $467.54 million. For the next financial year, analysts expect that the company will post sales of $519.34 million, with estimates ranging from $493.40 million to $540.09 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Live Oak Bancshares.

Live Oak Bancshares (NASDAQ:LOBGet Rating) last posted its quarterly earnings results on Tuesday, January 25th. The bank reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.07). The company had revenue of $111.39 million for the quarter, compared to the consensus estimate of $105.41 million. Live Oak Bancshares had a net margin of 32.03% and a return on equity of 25.18%. During the same quarter in the previous year, the company posted $0.69 EPS.

Several equities analysts recently weighed in on LOB shares. StockNews.com started coverage on shares of Live Oak Bancshares in a research report on Thursday, March 31st. They set a “sell” rating for the company. Zacks Investment Research upgraded shares of Live Oak Bancshares from a “hold” rating to a “strong-buy” rating and set a $60.00 target price for the company in a research report on Wednesday, April 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Live Oak Bancshares from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, February 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Live Oak Bancshares currently has a consensus rating of “Buy” and a consensus price target of $83.75.

LOB opened at $46.97 on Friday. The firm has a market cap of $2.05 billion, a P/E ratio of 12.66 and a beta of 1.50. The firm has a 50-day moving average of $56.86 and a 200 day moving average of $71.90. Live Oak Bancshares has a fifty-two week low of $45.68 and a fifty-two week high of $99.89.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Tuesday, March 1st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, February 28th. This represents a $0.12 dividend on an annualized basis and a yield of 0.26%. Live Oak Bancshares’s dividend payout ratio is presently 3.23%.

In other news, insider Steve Smits sold 2,747 shares of the stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $63.13, for a total value of $173,418.11. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP William L. Williams III purchased 5,625 shares of the stock in a transaction dated Wednesday, February 9th. The stock was purchased at an average cost of $64.37 per share, for a total transaction of $362,081.25. The disclosure for this purchase can be found here. Over the last three months, insiders bought 9,025 shares of company stock worth $580,835. Insiders own 26.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc raised its stake in Live Oak Bancshares by 0.5% in the fourth quarter. Legal & General Group Plc now owns 31,790 shares of the bank’s stock valued at $2,775,000 after purchasing an additional 168 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Live Oak Bancshares by 2.0% during the third quarter. Arizona State Retirement System now owns 8,702 shares of the bank’s stock worth $554,000 after acquiring an additional 171 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of Live Oak Bancshares by 3.6% during the third quarter. Cetera Advisors LLC now owns 6,833 shares of the bank’s stock worth $435,000 after acquiring an additional 235 shares in the last quarter. CNA Financial Corp raised its stake in shares of Live Oak Bancshares by 1.6% during the fourth quarter. CNA Financial Corp now owns 15,450 shares of the bank’s stock worth $1,349,000 after acquiring an additional 240 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Live Oak Bancshares by 6.5% during the third quarter. Captrust Financial Advisors now owns 4,095 shares of the bank’s stock worth $261,000 after acquiring an additional 251 shares in the last quarter. 59.14% of the stock is currently owned by institutional investors and hedge funds.

Live Oak Bancshares Company Profile (Get Rating)

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.

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Earnings History and Estimates for Live Oak Bancshares (NASDAQ:LOB)

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