Live Oak Bancshares (LOB) Scheduled to Post Earnings on Wednesday

Live Oak Bancshares (NASDAQ:LOB) is set to release its earnings data after the market closes on Wednesday, October 23rd. Analysts expect Live Oak Bancshares to post earnings of $0.53 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. The company had revenue of $232.61 million for the quarter, compared to analyst estimates of $123.08 million. During the same period in the prior year, the company posted $0.39 EPS. On average, analysts expect Live Oak Bancshares to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Live Oak Bancshares Stock Up 1.2 %

LOB stock opened at $48.88 on Wednesday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 24.56 and a beta of 1.60. The business’s fifty day simple moving average is $43.80 and its two-hundred day simple moving average is $39.16. Live Oak Bancshares has a twelve month low of $26.11 and a twelve month high of $50.57.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders 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 annualized dividend and a dividend yield of 0.25%. Live Oak Bancshares’s dividend payout ratio is currently 6.03%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LOB. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 price objective (up previously from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. JPMorgan Chase & Co. cut their price objective on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Truist Financial raised their target price 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. Finally, Piper Sandler boosted their price objective on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Live Oak Bancshares presently has an average rating of “Hold” and a consensus target price of $48.75.

Insider Buying and Selling

In related news, CAO John W. Sutherland sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $43.00, for a total transaction of $860,000.00. Following the completion of the sale, the chief accounting officer now owns 26,603 shares in the company, valued at $1,143,929. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.90% of the stock is owned by 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.