Live Oak Bancshares (NASDAQ:LOB) Releases Earnings Results, Misses Estimates By $0.25 EPS

Live Oak Bancshares (NASDAQ:LOB) issued its quarterly earnings data on Wednesday. The bank reported $0.28 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.25), Yahoo Finance reports. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. The firm had revenue of $241.87 million for the quarter, compared to analysts’ expectations of $126.63 million. During the same period in the prior year, the firm posted $0.88 EPS.

Live Oak Bancshares Stock Down 5.2 %

Shares of Live Oak Bancshares stock traded down $2.18 during trading on Friday, reaching $39.65. The company’s stock had a trading volume of 261,905 shares, compared to its average volume of 177,901. Live Oak Bancshares has a 52-week low of $27.79 and a 52-week high of $50.57. The firm’s 50-day moving average is $45.13 and its two-hundred day moving average is $39.59. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 21.36 and a beta of 1.60.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Tuesday, September 3rd. Live Oak Bancshares’s payout ratio is currently 5.48%.

Insider Buying and Selling

In other news, CAO John W. Sutherland sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $43.00, for a total transaction of $860,000.00. Following the transaction, the chief accounting officer now directly owns 26,603 shares of the company’s stock, valued at approximately $1,143,929. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LOB has been the subject of a number of recent analyst reports. Piper Sandler reduced their price target on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday. Truist Financial raised their target price on shares of Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. cut their price target on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Finally, Keefe, Bruyette & Woods restated 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $48.25.

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.