Live Oak Bancshares (NYSE:LOB – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.39, Zacks reports. Live Oak Bancshares had a return on equity of 6.61% and a net margin of 6.94%.
Live Oak Bancshares Price Performance
Shares of NYSE:LOB traded up $2.19 during trading on Wednesday, reaching $38.90. The company had a trading volume of 471,217 shares, compared to its average volume of 312,138. Live Oak Bancshares has a 12 month low of $22.68 and a 12 month high of $41.56. The company has a fifty day moving average price of $34.18. The stock has a market cap of $1.78 billion, a PE ratio of 26.11 and a beta of 2.02.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on LOB. Wall Street Zen raised Live Oak Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Live Oak Bancshares in a report on Wednesday, October 8th. Finally, TD Cowen upgraded shares of Live Oak Bancshares to a “strong-buy” rating in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Live Oak Bancshares has a consensus rating of “Moderate Buy”.
About Live Oak Bancshares
Live Oak Bancshares, Inc is a bank holding company headquartered in Wilmington, North Carolina, and operates through its subsidiary Live Oak Banking Company. Founded in 2008, the company leverages a branchless, technology-driven platform to deliver specialty lending and deposit products across the United States. Live Oak Bancshares completed its initial public offering in February 2018 and trades on the NYSE under the ticker symbol LOB.
The company’s primary focus is on originating and servicing commercial loans for small businesses in select industry verticals.
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