Live Oak Bancshares, Inc. (LOB) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) from a hold rating to a sell rating in a report released on Wednesday, November 1st.

According to Zacks, “Live Oak Bancshares Inc. is the parent and registered bank holding company of Live Oak Banking Company which offers online platform for small business lending. The company accepts deposit products as well as offers loans which comprise small business administration loans; conventional commercial business loans to small and medium sized businesses and construction loans. It offers loans to the veterinary, pharmacy, investment advisory, beverages, funeral homes, entertainment centers, agricultural and healthcare sectors. Live Oak Bancshares Inc. is headquartered in Wilmington, North Carolina. “

Other equities research analysts also recently issued research reports about the stock. TheStreet upgraded shares of Live Oak Bancshares from a c+ rating to a b rating in a research note on Monday, October 23rd. Sandler O’Neill raised shares of Live Oak Bancshares from a hold rating to a buy rating and cut their price target for the stock from $25.00 to $24.00 in a report on Wednesday, September 6th. SunTrust Banks, Inc. reissued a buy rating and set a $27.00 price target on shares of Live Oak Bancshares in a report on Thursday, October 12th. BidaskClub raised shares of Live Oak Bancshares from a hold rating to a buy rating in a report on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods started coverage on shares of Live Oak Bancshares in a report on Monday, October 16th. They set a market perform rating and a $26.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $26.50.

Live Oak Bancshares (NASDAQ LOB) traded up $0.15 during midday trading on Wednesday, reaching $24.05. 59,457 shares of the company’s stock traded hands, compared to its average volume of 102,112. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 0.07. Live Oak Bancshares has a one year low of $16.60 and a one year high of $26.05. The firm has a market capitalization of $953.04, a P/E ratio of 24.90 and a beta of -0.09.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.14. Live Oak Bancshares had a net margin of 17.68% and a return on equity of 13.60%. The company had revenue of $46.09 million during the quarter, compared to the consensus estimate of $42.56 million. sell-side analysts anticipate that Live Oak Bancshares will post 1.07 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 13th will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.12 annualized dividend and a dividend yield of 0.50%. Live Oak Bancshares’s dividend payout ratio is presently 12.90%.

In other Live Oak Bancshares news, Director Glen F. Hoffsis purchased 1,400 shares of the stock in a transaction dated Friday, November 10th. The shares were acquired at an average cost of $23.50 per share, for a total transaction of $32,900.00. Following the completion of the transaction, the director now directly owns 85,382 shares of the company’s stock, valued at $2,006,477. The purchase was disclosed in a filing with the SEC, which is available at this link. 30.10% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in Live Oak Bancshares by 107.0% during the second quarter. Goldman Sachs Group Inc. now owns 163,987 shares of the bank’s stock worth $3,968,000 after acquiring an additional 84,748 shares during the last quarter. Vanguard Group Inc. boosted its position in Live Oak Bancshares by 8.3% during the first quarter. Vanguard Group Inc. now owns 845,950 shares of the bank’s stock worth $18,315,000 after acquiring an additional 65,115 shares during the last quarter. American International Group Inc. boosted its position in Live Oak Bancshares by 7.0% during the first quarter. American International Group Inc. now owns 12,038 shares of the bank’s stock worth $261,000 after acquiring an additional 791 shares during the last quarter. Emerald Advisers Inc. PA acquired a new stake in Live Oak Bancshares during the third quarter worth approximately $9,573,000. Finally, TD Asset Management Inc. boosted its position in Live Oak Bancshares by 50.8% during the second quarter. TD Asset Management Inc. now owns 25,414 shares of the bank’s stock worth $615,000 after acquiring an additional 8,556 shares during the last quarter. Institutional investors and hedge funds own 31.87% of the company’s stock.

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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