Live Oak Bancshares (NASDAQ:LOB) Shares Gap Up to $57.98

Live Oak Bancshares, Inc. (NASDAQ:LOB) gapped up prior to trading on Thursday . The stock had previously closed at $57.98, but opened at $60.35. Live Oak Bancshares shares last traded at $60.66, with a volume of 2,332 shares.

LOB has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on Live Oak Bancshares in a research note on Monday, April 12th. They issued a “neutral” rating and a $78.00 price objective on the stock. Zacks Investment Research downgraded Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, June 29th. Finally, Raymond James upped their target price on Live Oak Bancshares from $50.00 to $80.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 22nd.

The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 23.57 and a beta of 1.36. The company’s 50-day moving average is $58.89.

Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Tuesday, July 20th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.84. Live Oak Bancshares had a return on equity of 18.78% and a net margin of 25.11%. As a group, sell-side analysts forecast that Live Oak Bancshares, Inc. will post 2.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 8th. Shareholders of record on Tuesday, May 25th were paid a dividend of $0.03 per share. The ex-dividend date was Monday, May 24th. This represents a $0.12 annualized dividend and a yield of 0.20%. Live Oak Bancshares’s dividend payout ratio (DPR) is 8.28%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Wolverine Asset Management LLC acquired a new stake in shares of Live Oak Bancshares in the first quarter valued at $33,000. Baldwin Brothers Inc. MA acquired a new position in Live Oak Bancshares during the 1st quarter worth $34,000. Lazard Asset Management LLC acquired a new position in Live Oak Bancshares during the 1st quarter worth $37,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Live Oak Bancshares during the 1st quarter worth $44,000. Finally, Gables Capital Management Inc. grew its stake in Live Oak Bancshares by 60.0% during the 1st quarter. Gables Capital Management Inc. now owns 800 shares of the bank’s stock worth $55,000 after purchasing an additional 300 shares in the last quarter. 52.97% of the stock is owned by institutional investors and hedge funds.

About Live Oak Bancshares (NASDAQ:LOB)

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. 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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