Live Oak Bancshares (NASDAQ:LOB – Get Free Report) issued its earnings results on Wednesday. The bank reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25), Yahoo Finance reports. The business had revenue of $241.87 million during the quarter, compared to analysts’ expectations of $126.63 million. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. During the same period last year, the firm posted $0.88 EPS.
Live Oak Bancshares Stock Performance
Shares of LOB stock traded down $2.23 during mid-day trading on Friday, reaching $39.60. 261,897 shares of the company’s stock traded hands, compared to its average volume of 177,901. The firm has a market capitalization of $1.78 billion, a PE ratio of 21.36 and a beta of 1.60. Live Oak Bancshares has a 12 month low of $27.79 and a 12 month high of $50.57. The firm has a 50 day moving average price of $45.13 and a two-hundred day moving average price of $39.59.
Live Oak Bancshares Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio is presently 5.48%.
Insider Buying and Selling
Wall Street Analyst Weigh In
Several research firms have recently weighed in on LOB. Truist Financial boosted their price objective on shares of Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a report on Friday, September 20th. JPMorgan Chase & Co. lowered their price target on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Piper Sandler dropped their price target on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $47.00 price objective (up previously from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $48.25.
Read Our Latest Research Report on Live Oak Bancshares
About Live Oak Bancshares
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.
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