Live Oak Bancshares (NASDAQ:LOB) Releases Earnings Results, Beats Expectations By $0.13 EPS

Live Oak Bancshares (NASDAQ:LOB) issued its earnings results on Wednesday. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13, Zacks reports. Live Oak Bancshares had a return on equity of 10.25% and a net margin of 10.62%. The business had revenue of $232.61 million during the quarter, compared to analysts’ expectations of $123.08 million. During the same quarter in the previous year, the business earned $0.39 EPS.

Live Oak Bancshares Price Performance

Live Oak Bancshares stock traded up $1.63 during midday trading on Thursday, hitting $44.50. 357,813 shares of the company were exchanged, compared to its average volume of 179,399. The company’s fifty day moving average price is $35.22 and its 200-day moving average price is $37.47. The company has a market cap of $2.00 billion, a PE ratio of 22.36 and a beta of 1.62. Live Oak Bancshares has a fifty-two week low of $26.11 and a fifty-two week high of $47.22.

Live Oak Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.27%. The ex-dividend date was Tuesday, June 4th. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 6.03%.

Analyst Ratings Changes

A number of analysts have recently issued reports on LOB shares. Truist Financial decreased their target price on Live Oak Bancshares from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. decreased their target price on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $40.00 target price (down previously from $45.00) on shares of Live Oak Bancshares in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.25.

Insider Buying and Selling

In related news, Director Tonya Williams Bradford sold 2,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $35.97, for a total transaction of $93,522.00. Following the transaction, the director now directly owns 5,870 shares of the company’s stock, valued at approximately $211,143.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.90% of the stock is currently owned by corporate insiders.

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.