Live Oak Bancshares (LOB) Lowered to “Strong Sell” at ValuEngine

ValuEngine lowered shares of Live Oak Bancshares (NASDAQ:LOB) from a sell rating to a strong sell rating in a report issued on Sunday morning.

LOB has been the subject of a number of other reports. BidaskClub raised shares of Live Oak Bancshares from a buy rating to a strong-buy rating in a research note on Saturday, July 7th. Zacks Investment Research lowered shares of Live Oak Bancshares from a hold rating to a strong sell rating in a research note on Wednesday, August 1st. Finally, Sandler O’Neill lowered shares of Live Oak Bancshares from a buy rating to a hold rating in a research note on Monday, July 9th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $29.00.

Shares of NASDAQ:LOB opened at $18.40 on Friday. The company has a market capitalization of $750.97 million, a PE ratio of 14.76 and a beta of 0.15. Live Oak Bancshares has a twelve month low of $18.15 and a twelve month high of $32.95. The company has a quick ratio of 0.64, a current ratio of 0.90 and a debt-to-equity ratio of 0.01.



Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, October 24th. The bank reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $52.06 million during the quarter, compared to analyst estimates of $58.79 million. Live Oak Bancshares had a net margin of 34.19% and a return on equity of 13.50%. Equities analysts forecast that Live Oak Bancshares will post 1.34 earnings per share for the current year.

In related news, CFO S. Brett Caines sold 6,733 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $29.70, for a total transaction of $199,970.10. Following the completion of the sale, the chief financial officer now directly owns 267,326 shares of the company’s stock, valued at $7,939,582.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 16,839 shares of company stock valued at $500,015. Company insiders own 25.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System acquired a new stake in Live Oak Bancshares during the third quarter valued at approximately $845,000. Russell Investments Group Ltd. lifted its stake in Live Oak Bancshares by 86.0% during the third quarter. Russell Investments Group Ltd. now owns 57,116 shares of the bank’s stock valued at $1,531,000 after purchasing an additional 26,413 shares during the last quarter. First Trust Advisors LP lifted its stake in Live Oak Bancshares by 10.6% during the third quarter. First Trust Advisors LP now owns 179,167 shares of the bank’s stock valued at $4,802,000 after purchasing an additional 17,107 shares during the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in Live Oak Bancshares during the third quarter valued at approximately $268,000. Finally, United Capital Management of KS Inc. acquired a new stake in Live Oak Bancshares during the third quarter valued at approximately $830,000. 44.30% of the stock is owned by institutional investors and hedge funds.

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: Understanding Price to Earnings Ratio (PE)

To view ValuEngine’s full report, visit ValuEngine’s official website.

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