Live Oak Bancshares (NYSE:LOB) Releases Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• Live Oak Bancshares reported earnings of $0.55 per share, falling short of analysts' estimates by $0.03.
• Following the earnings report, LOB stock decreased by $0.18 to $34.59, with a market capitalization of $1.58 billion.
• Analyst ratings have varied, with some firms upgrading the stock to "hold" or "strong-buy," leading to an average rating of "Moderate Buy."

Live Oak Bancshares (NYSE:LOB - Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03), Zacks reports. Live Oak Bancshares had a return on equity of 5.46% and a net margin of 5.71%.

Live Oak Bancshares Price Performance

Shares of LOB stock traded down $0.18 on Wednesday, hitting $34.59. 246,377 shares of the stock were exchanged, compared to its average volume of 291,288. The business has a 50-day moving average of $36.18. Live Oak Bancshares has a fifty-two week low of $22.68 and a fifty-two week high of $50.17. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 28.35 and a beta of 1.81.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Live Oak Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Weiss Ratings reissued a "hold (c)" rating on shares of Live Oak Bancshares in a research note on Wednesday, October 8th. Cantor Fitzgerald raised Live Oak Bancshares to a "hold" rating in a research report on Tuesday, September 9th. TD Cowen upgraded Live Oak Bancshares to a "strong-buy" rating in a report on Thursday, September 25th. Finally, Keefe, Bruyette & Woods raised Live Oak Bancshares from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy".

About Live Oak Bancshares

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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