Live Oak Bancshares (LOB) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Live Oak Bancshares (NASDAQ:LOB) posted its earnings results on Wednesday. The bank reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.05, Fidelity Earnings reports. Live Oak Bancshares had a net margin of 35.16% and a return on equity of 13.41%. The firm had revenue of $52.06 million during the quarter, compared to the consensus estimate of $58.79 million.

Shares of LOB stock traded down $0.48 during trading on Friday, reaching $18.79. The company’s stock had a trading volume of 33,760 shares, compared to its average volume of 139,088. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.64 and a current ratio of 0.90. The stock has a market capitalization of $892.18 million, a P/E ratio of 15.03 and a beta of 0.15. Live Oak Bancshares has a 1-year low of $19.24 and a 1-year high of $32.95.

In other Live Oak Bancshares news, Vice Chairman William L. Williams III purchased 35,000 shares of the company’s stock in a transaction on Monday, July 30th. The stock was acquired at an average price of $28.27 per share, for a total transaction of $989,450.00. Following the completion of the purchase, the insider now directly owns 28,100 shares in the company, valued at approximately $794,387. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO James S. Mahan III bought 40,200 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were bought at an average cost of $29.43 per share, with a total value of $1,183,086.00. The disclosure for this purchase can be found here. Insiders sold 27,310 shares of company stock valued at $799,996 in the last 90 days. Company insiders own 25.70% of the company’s stock.

Several analysts recently weighed in on the stock. Sandler O’Neill downgraded shares of Live Oak Bancshares from a “buy” rating to a “hold” rating in a report on Monday, July 9th. They noted that the move was a valuation call. BidaskClub raised Live Oak Bancshares from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 7th. Zacks Investment Research cut Live Oak Bancshares from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 1st. Finally, ValuEngine cut Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Monday. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.00.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc operates as the bank holding company for the Live Oak Banking Company that provides various commercial banking products and services to individuals and businesses in North Carolina. The company accepts various deposit products, including noninterest-bearing demand, interest-bearing checking, money market, saving, and time deposits.

See Also: Exchange-Traded Funds (ETFs)

Earnings History for Live Oak Bancshares (NASDAQ:LOB)

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