Live Oak Bancshares (LOB) Scheduled to Post Quarterly Earnings on Wednesday

Live Oak Bancshares (NASDAQ:LOB) is set to post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Live Oak Bancshares to post earnings of $0.49 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, January 24th. The bank reported $0.36 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.20). Live Oak Bancshares had a return on equity of 8.67% and a net margin of 9.24%. The company had revenue of $119.68 million for the quarter, compared to analyst estimates of $119.36 million. On average, analysts expect Live Oak Bancshares to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Live Oak Bancshares Price Performance

LOB opened at $36.89 on Wednesday. Live Oak Bancshares has a 12 month low of $19.53 and a 12 month high of $47.22. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 22.49 and a beta of 1.60. The business has a fifty day moving average price of $39.41 and a 200 day moving average price of $37.03.

Live Oak Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.12 annualized dividend and a yield of 0.33%. Live Oak Bancshares’s payout ratio is 7.32%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. TheStreet cut Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods lifted their price target on Live Oak Bancshares from $43.00 to $45.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Truist Financial reaffirmed a “buy” rating and set a $47.00 price target on shares of Live Oak Bancshares in a report on Monday, April 1st. Finally, StockNews.com downgraded Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.50.

Insider Activity

In other news, insider Micah S. Davis sold 8,613 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $39.87, for a total value of $343,400.31. Following the completion of the sale, the insider now directly owns 43,864 shares of the company’s stock, valued at approximately $1,748,857.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the sale, the director now directly owns 121,941 shares of the company’s stock, valued at approximately $4,844,715.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Micah S. Davis sold 8,613 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the sale, the insider now directly owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The disclosure for this sale can be found here. Company insiders own 23.90% of the company’s stock.

Institutional Trading of Live Oak Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. acquired a new position in Live Oak Bancshares during the 1st quarter worth approximately $213,000. JPMorgan Chase & Co. increased its position in Live Oak Bancshares by 81.3% during the 1st quarter. JPMorgan Chase & Co. now owns 37,427 shares of the bank’s stock worth $1,904,000 after purchasing an additional 16,781 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Live Oak Bancshares by 31.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 19,157 shares of the bank’s stock worth $975,000 after purchasing an additional 4,539 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Live Oak Bancshares by 56.2% in the 1st quarter. MetLife Investment Management LLC now owns 17,593 shares of the bank’s stock worth $895,000 after acquiring an additional 6,327 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Live Oak Bancshares by 2.7% in the 1st quarter. Rhumbline Advisers now owns 32,972 shares of the bank’s stock worth $1,678,000 after acquiring an additional 853 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.

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.