Live Oak Bancshares (NYSE:LOB) Posts Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Live Oak Bancshares reported $0.60 EPS for the quarter, beating the $0.54 consensus by $0.06, with a return on equity of 9.71% and a net margin of 10.09%.
• Shares traded at $36.24 (market cap ~$1.66B, P/E 16.32) and carry a consensus target of $44.20 with an average analyst rating of "Moderate Buy."
• The company pays a quarterly dividend of $0.03 (annualized $0.12, yield 0.3%), and insiders have sold 17,412 shares in the past 90 days while still owning 22.40% of the stock.

Live Oak Bancshares (NYSE:LOB - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.06, Zacks reports. Live Oak Bancshares had a return on equity of 9.71% and a net margin of 10.09%.

Live Oak Bancshares Price Performance

LOB stock traded down $0.16 on Wednesday, reaching $36.24. The company's stock had a trading volume of 193,570 shares, compared to its average volume of 313,735. The firm has a fifty day moving average of $35.64 and a two-hundred day moving average of $35.20. The company has a market capitalization of $1.66 billion, a P/E ratio of 16.32 and a beta of 1.90. Live Oak Bancshares has a 52 week low of $24.30 and a 52 week high of $42.89.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 15th. Investors of record on Thursday, March 5th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, March 5th. Live Oak Bancshares's dividend payout ratio is 5.41%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LOB. TD Cowen raised Live Oak Bancshares to a "strong-buy" rating in a report on Monday, April 13th. Zacks Research raised Live Oak Bancshares from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 17th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Live Oak Bancshares in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $44.20.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, General Counsel Gregory W. Seward sold 3,000 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $36.70, for a total transaction of $110,100.00. Following the completion of the transaction, the general counsel directly owned 113,797 shares of the company's stock, valued at approximately $4,176,349.90. This trade represents a 2.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Walter J. Phifer sold 4,712 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $36.58, for a total value of $172,364.96. Following the transaction, the chief financial officer directly owned 10,103 shares of the company's stock, valued at approximately $369,567.74. The trade was a 31.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 17,412 shares of company stock valued at $660,862. Company insiders own 22.40% of the company's stock.

Hedge Funds Weigh In On Live Oak Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOB. Millennium Management LLC boosted its stake in Live Oak Bancshares by 655.6% during the 1st quarter. Millennium Management LLC now owns 687,885 shares of the company's stock valued at $18,339,000 after purchasing an additional 596,841 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in Live Oak Bancshares during the 4th quarter valued at $19,181,000. Ameriprise Financial Inc. boosted its stake in Live Oak Bancshares by 366.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 519,957 shares of the company's stock valued at $18,313,000 after purchasing an additional 408,591 shares in the last quarter. Jane Street Group LLC boosted its stake in Live Oak Bancshares by 1,263.2% during the 1st quarter. Jane Street Group LLC now owns 201,816 shares of the company's stock valued at $5,380,000 after purchasing an additional 187,011 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in Live Oak Bancshares during the 2nd quarter valued at $4,722,000. 63.95% of the stock is owned by institutional investors.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is a bank holding company headquartered in Wilmington, North Carolina, and operates through its subsidiary Live Oak Banking Company. Founded in 2008, the company leverages a branchless, technology-driven platform to deliver specialty lending and deposit products across the United States. Live Oak Bancshares completed its initial public offering in February 2018 and trades on the NYSE under the ticker symbol LOB.

The company's primary focus is on originating and servicing commercial loans for small businesses in select industry verticals.

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