Live Oak Bancshares (NASDAQ:LOB - Get Free Report) released its quarterly earnings results on Wednesday. The bank reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.25), Yahoo Finance reports. The firm had revenue of $241.87 million during the quarter, compared to analysts' expectations of $126.63 million. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. During the same quarter last year, the business earned $0.88 earnings per share.
NASDAQ:LOB traded down $2.18 on Friday, reaching $39.65. 261,905 shares of the company's stock traded hands, compared to its average volume of 177,901. The stock has a 50-day simple moving average of $45.13 and a 200-day simple moving average of $39.59. The firm has a market cap of $1.79 billion, a PE ratio of 21.36 and a beta of 1.60. Live Oak Bancshares has a 12 month low of $27.79 and a 12 month high of $50.57.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.03 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.12 dividend on an annualized basis and a yield of 0.30%. Live Oak Bancshares's dividend payout ratio is currently 5.48%.
In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $43.00, for a total transaction of $860,000.00. Following the sale, the chief accounting officer now directly owns 26,603 shares of the company's stock, valued at $1,143,929. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.90% of the company's stock.
A number of research firms have recently issued reports on LOB. Truist Financial raised their price target on Live Oak Bancshares from $51.00 to $57.00 and gave the stock a "buy" rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $47.00 price target (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Piper Sandler dropped their price target on Live Oak Bancshares from $50.00 to $44.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. decreased their target price on Live Oak Bancshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $48.25.
Check Out Our Latest Stock Report on 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.
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