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

Live Oak Bancshares (NASDAQ:LOB) announced its earnings results on Wednesday. The bank reported $0.28 earnings per share (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 company had revenue of $241.87 million for the quarter, compared to analysts’ expectations of $126.63 million. During the same period in the previous year, the firm earned $0.88 EPS.

Live Oak Bancshares Trading Down 5.2 %

Shares of NASDAQ:LOB traded down $2.18 during mid-day trading on Friday, reaching $39.65. The company had a trading volume of 261,905 shares, compared to its average volume of 177,901. Live Oak Bancshares has a one year low of $27.79 and a one year high of $50.57. The company’s 50-day moving average price is $45.13 and its 200-day moving average price is $39.59. The firm 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 Dividend Announcement

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

Insider Buying and Selling at Live Oak Bancshares

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

Analysts Set New Price Targets

Several equities analysts have weighed in on LOB shares. Piper Sandler cut their price objective on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday. Truist Financial upped their price objective on shares of Live Oak Bancshares from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their price objective 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 issued a $47.00 target price (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.25.

About Live Oak Bancshares

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.