Live Oak Bancshares (NYSE:LOB) Shares Gap Down on Disappointing Earnings

Key Points

• Live Oak Bancshares shares gapped down to $33.35 after reporting a quarterly EPS of $0.55, missing analyst estimates of $0.58.
• The company recorded revenue of $146.10 million, falling short of expectations of $147.35 million, with a net margin of 5.71% and a return on equity of 5.46%.
• Despite the disappointing earnings, several analysts have upgraded the stock's ratings, with the average rating now being a "Moderate Buy."

Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $34.65, but opened at $33.35. Live Oak Bancshares shares last traded at $33.20, with a volume of 19,632 shares.

The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). The firm had revenue of $146.10 million for the quarter, compared to analysts' expectations of $147.35 million. Live Oak Bancshares had a net margin of 5.71% and a return on equity of 5.46%.

Analyst Ratings Changes

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

Live Oak Bancshares Stock Down 3.4%

The stock has a fifty day moving average price of $36.18. The firm has a market cap of $1.53 billion, a P/E ratio of 27.44 and a beta of 1.81.

Live Oak Bancshares Company Profile

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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