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

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

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.13. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. The firm had revenue of $232.61 million during the quarter, compared to analysts’ expectations of $123.08 million. During the same period in the previous year, the business 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 %

NASDAQ:LOB opened at $48.88 on Wednesday. The firm has a market capitalization of $2.20 billion, a P/E ratio of 24.56 and a beta of 1.60. The stock’s fifty day simple moving average is $43.80 and its 200-day simple moving average is $39.16. Live Oak Bancshares has a 12-month low of $26.11 and a 12-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 given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio is currently 6.03%.

Analyst Ratings Changes

LOB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $47.00 price target (up from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. Piper Sandler boosted their target price 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. Finally, Truist Financial upped 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.75.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 26,603 shares in the company, valued at $1,143,929. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 23.90% of the stock is currently owned by company insiders.

Live Oak Bancshares Company Profile

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.