Live Oak Bancshares, Inc. (LOB) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) from a buy rating to a hold rating in a research report released on Saturday morning.

According to Zacks, “Live Oak Bancshares Inc. is the parent and registered bank holding company of Live Oak Banking Company which offers online platform for small business lending. The company accepts deposit products as well as offers loans which comprise small business administration loans; conventional commercial business loans to small and medium sized businesses and construction loans. It offers loans to the veterinary, pharmacy, investment advisory, beverages, funeral homes, entertainment centers, agricultural and healthcare sectors. Live Oak Bancshares Inc. is headquartered in Wilmington, North Carolina. “

Shares of Live Oak Bancshares (LOB) opened at 25.50 on Friday. Live Oak Bancshares has a 52 week low of $12.68 and a 52 week high of $26.05. The stock has a market capitalization of $882.48 million, a PE ratio of 59.16 and a beta of -0.16. The stock’s 50 day moving average is $24.78 and its 200 day moving average is $21.71.

Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, April 26th. The bank reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Live Oak Bancshares had a net margin of 9.31% and a return on equity of 8.98%. The company had revenue of $41.39 million during the quarter, compared to the consensus estimate of $38.78 million. Analysts anticipate that Live Oak Bancshares will post $0.97 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, May 19th. This represents a $0.08 dividend on an annualized basis and a yield of 0.31%. Live Oak Bancshares’s payout ratio is 18.61%.

A number of large investors have recently added to or reduced their stakes in LOB. Bank of America Corp DE increased its stake in Live Oak Bancshares by 3.5% in the first quarter. Bank of America Corp DE now owns 5,468 shares of the bank’s stock worth $118,000 after buying an additional 185 shares during the last quarter. Credit Suisse AG increased its stake in Live Oak Bancshares by 2.0% in the first quarter. Credit Suisse AG now owns 10,677 shares of the bank’s stock worth $231,000 after buying an additional 207 shares during the last quarter. American International Group Inc. increased its stake in Live Oak Bancshares by 7.0% in the first quarter. American International Group Inc. now owns 12,038 shares of the bank’s stock worth $261,000 after buying an additional 791 shares during the last quarter. Teachers Advisors LLC increased its stake in Live Oak Bancshares by 4.7% in the fourth quarter. Teachers Advisors LLC now owns 33,863 shares of the bank’s stock worth $626,000 after buying an additional 1,530 shares during the last quarter. Finally, US Bancorp DE increased its stake in Live Oak Bancshares by 77.5% in the first quarter. US Bancorp DE now owns 4,614 shares of the bank’s stock worth $100,000 after buying an additional 2,014 shares during the last quarter. Institutional investors own 36.07% of the company’s stock.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is a bank holding company. The Company conducts business operations primarily through its commercial bank subsidiary, Live Oak Banking Company (the Bank). The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The loans originated by the Bank are guaranteed by the small business administration (SBA).

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