Live Oak Bancshares (NYSE:LOB) Releases Earnings Results, Beats Expectations By $0.06 EPS
by Tristan Rich · The Markets DailyLive Oak Bancshares (NYSE:LOB – Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06, Zacks reports. Live Oak Bancshares had a return on equity of 9.71% and a net margin of 10.09%.
Live Oak Bancshares Stock Down 0.4%
Shares of LOB traded down $0.16 during mid-day trading on Wednesday, reaching $36.24. The company’s stock had a trading volume of 193,570 shares, compared to its average volume of 313,735. The business has a fifty day moving average of $35.64 and a 200 day moving average of $35.20. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 16.32 and a beta of 1.90. Live Oak Bancshares has a 1 year low of $24.30 and a 1 year high of $42.89.
Live Oak Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Stockholders of record on Thursday, March 5th were issued a $0.03 dividend. The ex-dividend date was Thursday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Live Oak Bancshares’s dividend payout ratio is presently 5.41%.
Insiders Place Their Bets
In other Live Oak Bancshares news, insider Ewa Maria Stasiowska bought 2,595 shares of Live Oak Bancshares stock in a transaction dated Monday, January 26th. The stock was bought at an average price of $38.53 per share, for a total transaction of $99,985.35. Following the completion of the acquisition, the insider directly owned 2,595 shares of the company’s stock, valued at approximately $99,985.35. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Courtney Spencer sold 9,700 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $39.01, for a total value of $378,397.00. Following the completion of the sale, the insider owned 25,160 shares of the company’s stock, valued at $981,491.60. The trade was a 27.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,412 shares of company stock worth $660,862 over the last three months. Company insiders own 22.40% of the company’s stock.
Institutional Trading of Live Oak Bancshares
Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in shares of Live Oak Bancshares by 138.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock worth $95,000 after acquiring an additional 1,850 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Live Oak Bancshares during the fourth quarter worth $187,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Live Oak Bancshares by 111.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 6,170 shares of the company’s stock worth $184,000 after acquiring an additional 3,248 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Live Oak Bancshares by 24.8% during the fourth quarter. Principal Securities Inc. now owns 7,009 shares of the company’s stock worth $241,000 after acquiring an additional 1,392 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Live Oak Bancshares during the third quarter worth $255,000. 63.95% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. TD Cowen upgraded Live Oak Bancshares to a “strong-buy” rating in a research report on Monday, April 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Live Oak Bancshares in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.20.
About Live Oak Bancshares
Live Oak Bancshares, Inc is a bank holding company headquartered in Wilmington, North Carolina, and operates through its subsidiary Live Oak Banking Company. Founded in 2008, the company leverages a branchless, technology-driven platform to deliver specialty lending and deposit products across the United States. Live Oak Bancshares completed its initial public offering in February 2018 and trades on the NYSE under the ticker symbol LOB.
The company’s primary focus is on originating and servicing commercial loans for small businesses in select industry verticals.